If anyone knows me they know I love data visualizations. Frankly, I think graphs tell a better story than most bloggers or writers. I came across this gem and had to hear what the automotive community thought.
Pricing vehicles to market has been a long trend in our industry and in 2011 some incredibly smart folks studied some 22 million used car transactions and found clear drops in price at every 10,000 mile interval. What is even more interesting is they estimate the financial impact of this mis-pricing is about $2.4 billion of financial missed opportunity.
Take a look at this graph. It details the average sales price of a used car based on the mileage. Links to the source and original blog can be found at the bottom of this post. [Read more…]