While you can batch update used inventory pricing from the Inventory Pricing Review screen, you can also update pricing on a vehicle-by-vehicle basis directly in an individual vehicle's vehicle record. Any changes you make to a vehicle's pricing in its record will populate the Inventory Pricing Review screen's New Price field.
|Note: Inventory Pricing Review is part of Autosoft's subscription-based Inventory Management product. You must be subscribed to the product to access this screen. For full details about Inventory Pricing Review, see the Knowledge Base article, "Understanding Inventory Pricing Review."|
To update an individual used vehicle's pricing within its vehicle record, follow these steps:
Step 1. Hover over the Vehicle application button in the main navigation bar. The Vehicle options menu will open. Select Pricing Review.
You can also click the Pricing Review button in the upper-right corner of the Vehicle Search, Appraisal Search, or Inventory Dashboard screens.
Vehicle Search Screen
Appraisal Search Screen
The Inventory Pricing Review screen will open, displaying all the used vehicles in your inventory.
Step 2. All the vehicles will be selected, which is noted by a check in the box to the left of the Stock No column header and to the left of each used vehicle listing. Click Update Selected to perform an Inventory Pricing Review Bookout on all the vehicles.
|Note: Autosoft recommends that you update your entire used inventory's retail and wholesale book values to the most current book values or market value (using Autosoft Market Analysis) each time you enter the Inventory Pricing Review screen by clicking the Update Selected button.|
The system will update the wholesale and retail book values based on the defaults you've established in the Selected Wholesale and Selected Retail fields in the Inventory Pricing Review Bookout Defaults card of the Bookout Defaults page in Setup. However, if you've used alternative book providers or vehicle conditions for any of the vehicles' previous bookouts, the Selected Wholesale and Selected Retail defaults will only be used if you check the Clear Book Provider Overrides box in the pop-up that opens after clicking Update Selected.
|Note: If a vehicle has not been booked out, its Wholesale and Retail fields on the Inventory Pricing Review screen will be blank. To perform an inventory pricing review bookout on an individual vehicle, click on the vehicle in the list and click the Pricing Review Bookout button on the car's pricing quick-look card. This will allow you to manually perform the vehicle pricing review on a vehicle-by-vehicle basis. In the modal that opens, you can select different wholesale and retail book providers (including the Autosoft Market Analysis market average price) and vehicle conditions based on the individual vehicle. If you update the vehicle's default price (MSRP, List Price, or Internet Price) field in this card, the new price will populate the vehicle's New Price field on the Inventory Pricing Review page when the Pricing Review Bookout is saved.|
Step 3. Use the updated book values to assess the used inventory pricing. To change a vehicle's pricing directly in its vehicle record, click the vehicle in the list to open its pricing quick-look card.
Step 4. In the upper-right corner of the card, click View Vehicle to open the vehicle record, leaving the Inventory Pricing Review screen, or the pop-out icon to open the vehicle record in a new browser tab, allowing you to keep the Inventory Pricing Review screen open in the current tab.
Entering a New Price in the Pricing Card
You can adjust the vehicle's price directly in the Pricing card of the vehicle record's Overview page. When you update and save the new price you've entered in the pricing field you've set as the default (Internet Price, List Price, or MSRP), the new price you entered in that field will be pulled to the vehicle's New Internet Price/New List Price/New MSRP field on the Inventory Pricing Review screen.
|Note: The Inventory Pricing Review screen's New Price column's price type is determined by the Pricing Column default you've established in the Inventory Pricing Review Bookout Defaults card on the Bookout Defaults page in Setup. Select from List Price, Internet Price, or MSRP for the default. When you update that price for a vehicle in its vehicle record or on the Inventory Pricing Review screen, the new price will populate the Inventory Pricing Review screen and vehicle record's default pricing field, respectively. You may have to refresh the Inventory Pricing Review screen to see the pricing changes made in a vehicle record.|
Using the Autosoft Market Analysis Tool
You can update an individual vehicle's pricing by clicking the Autosoft Market Analysis (AMA) button in the Pricing card of the Overview page. Use the AMA tool to evaluate the vehicle's price market ranking and percentage of average market value. You can change the vehicle's price on the AMA card by entering a new (default) Price, Profit, or % of Market (percentage of average market price). When you click Save to Vehicle, the new price you arrived at in the AMA card will populate the default price field in the Pricing card, as well as the New Price field on the Inventory Pricing Review screen.
|Note: You may have to refresh the Inventory Pricing Review screen to reveal the new price you entered while working in the vehicle record.|