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AUTOMOTIVE INDUSTRY NEWS
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Irvine-based Kelley Blue Book enhances its service

The new- and used-car-information website launches used-car prices for 51 regions and provides more specific valuations.

By Kylie MalstromPublished: November 14, 2011 07:30 AM

Kelley Blue Book has expanded to offer comprehensive automotive values to consumers in 51 regions in an effort to reflect the most accurate used-car values in every state. The website is now updating regional values on a weekly basis for all categories, including lending, auction, trade-in, private party, certified pre-owned and suggested retail.

"These game-changing enhancements in vehicle valuation allow automotive businesses to better manage a single vehicle or an entire portfolio of inventory more effectively and profitably than ever before," said Juan Flores, Kelley Blue Book’s director of vehicle valuation. “The introduction of localized values for 51 specific regional markets not only echoes the pricing variations detected in each region by the company's statisticians and sophisticated valuation models, it reflects our desire to help consumers and businesses make better financial decisions."

Kelley Blue Book has added “Very Good” to its vehicle-condition-rating system to reflect more accurate value adjustments in the used-car market. This designation falls between the current “Good” and “Excellent” designations with a new value associated with it.

"Only 3 percent of today's vehicles are actually in 'Excellent' condition," said Flores. "Kelley Blue Book's introduction of the 'Very Good' condition allows both consumers and dealers to determine a more accurate reflection of a vehicle's actual condition when a car is in better than 'Good' condition but not quite 'Excellent.'"


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