Dealers face £17.5m fines for incorrect data
- 3 November 2022
- Posted by: Alan Feldberg
- Category: News
A new study has revealed that up to 44% of the vehicle data that dealers hold about customers is outdated or incorrect.
Data experts at Auto Data Solutions warn that poor data creates compliance issues and can result in poor customer services and sales.
Jon Sheard, director, said: “With larger dealers holding millions of records, the details will change by the second, and the quality and value of that data will decrease daily. Data sits at the heart of modern dealerships and fuels the sales effort.
“Therefore, it’s essential that all records are up-to-date and accurate. Dealers that fail to manage their customer records face hefty fines of up to £17.5m or four per cent of global turnover under the GPDR rules, which require dealers to take reasonable steps to keep data up to date or erase it if it’s lapsed.”
Sheard concluded: “Data management needs to be a priority for the industry. Following an initial cleanse, the process can be automated to ensure that data is always up to date. Advanced technology can be used to update the database automatically. It’s an approach that will keep dealers on the right side of compliance procedures.”