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Used Car Pricing Analyst

Used Car Pricing Analyst

VOLKSWAGEN GroupOntario, Canada
30+ days ago
Salary
CA$50,000.00–CA$60,000.00 yearly
Job description

Role Summary :

The Used Car Pricing Analyst maintains a statistical based pricing strategy for the remarketing of used Audi and Volkswagen vehicles across all three remarketing channels : customer purchase, dealer online, and auction. Performs ongoing analysis of trends in vehicle values as they relate to market seasonality, vehicle characteristics (make, model, eng type, color etc.), supply and demand, and remarketing channel. Develop performance-based reporting to measure the financial impact of alternative pricing strategies and incentives. Communicate with the Remarketing Department, Risk Management, and the respective Brands to provide strategic recommendations that enhance used vehicle sale proceeds and minimize residual value losses.

Role Responsibilities :

  • Utilize the company’s data warehouse and various data mining tools to extract all relevant data relating to the remarketing of used vehicles and their respective sales channels. Coordinate with remarketing and risk management personnel to ensure consistency in the extraction, manipulation, interpretation, and application of data.
  • Analyze data to isolate impact of different variables on the price obtained for a remarketed vehicle. This would include seasonality, supply and demand, channel distribution & elasticity, regional differences, and vehicle characteristics such as make, model, engine type, mileage, wear & tear, and color.
  • Maintain a flexible, accurate, predictive pricing model that incorporates both historical results and forecasted variables and can be used to price individual vehicles based on their respective characteristics. On an ongoing consistent basis, submit for formal approval individual vehicle pricing adjustments commensurate with seasonal trends, scheduled maturities, incentives, and historical performance.
  • Develop performance-based reporting that demonstrates the effectiveness of pricing techniques, the respective performance of individual remarketing channels, and the financial impact of various pricing incentives and tools. Develop reporting that measures the effectiveness of control mechanisms and highlights exceptions.
  • Perform elasticity, sensitivity, and scenario analysis to identify pricing strategies that optimize results. Provide pricing recommendations to management that are forward looking in nature with the intent to maximize the profit received as an aggregate of all remarketing channels.
  • Develop and present various proposals and presentations to a wide variety of audiences.
  • Conduct reviews on effectiveness of VW and Audi incentive programs to evaluate cost / benefit and present to the brands.
  • Serve as a VWFS Off-Lease pricing manager back-up. Able to perform all of the VWFS Off-Lease pricing manager responsibilities including running the Machine Learning Model, Leading executive brand meetings and access to the data to run any necessary job responsibilities.
  • Work closely with physical auction reps in the execution of consistent pricing throughout the remarketing process from grounding to mid-stream to physical auction.
  • Collaborate with Controllers in planning rounds, budgeting and forecasting.

Qualifications

Experience :

  • 7 - 10 years’ experience in risk management, finance, or remarketing with a captive finance company, automotive finance company, financial services or related company
  • Proven analytical experience to include computer aided statistical techniques.
  • Advanced experience in data mining, manipulation, report development, trend analysis & investigation, and management presentation techniques.

    • Education : Required –

  • Bachelor’s degree

    • Desired –

  • Master’s Degree

    • General Skills :

  • Analytical and conceptual thinking – using logic and reason, creative and strategic
  • Communication skills – interpersonal, presentation and written
  • Computer savvy – skilled in the use of software
  • Integration – joining people, processes or systems
  • Influencing and negotiation skills
  • Problem solving
  • Resource management

    • Specialized Skills : Required –

  • Working knowledge of statistical analysis, regression analysis, hypothesis testing, measure of dispersion and skewness, probability concepts, correlation analysis and time series analysis.
  • Exceptional computer skills, Excel, Focus, Word, Power Point, Access, Data Warehouse, Oracle and Business Objects
  • Exceptional spreadsheet modeling skills
  • Ability to work with programmers & vendors to resolve technical challenges
  • Represent VWFS pricing in internally and also externally (with vendors and dealers if needed)
  • Communication – Written, verbal, presentations & interpersonal skills
  • Proven ability to present & explain complex financial and statistical data in practical, understandable business terms
  • Proven ability to identify cost savings and process improvement opportunities
  • Proactive self-starting ability & initiative to provide advisory guidance to business clients
  • A willingness to learn & accept change and to approach assignments systemically
  • Ability to respond quickly to a changing environment

    • Desired –

  • 5 years analytical experience to include computer aided statistical techniques.
  • Experience evaluating and forecasting off-lease vehicle values.

    • Work Flexibility :

  • Minimal work travel, less than 5%

    • Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability or any other characteristic protected by federal, or local laws. Volkswagen Financial Services is committed to accommodating applicants and employees with disabilities. Should you require an accommodation during the recruitment and selection process please advise in advance.