John Sternal
  • Boca Raton, FL
  • United States
  • Merit Mile
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John Sternal posted blog posts
Dec 10
John Sternal posted a blog post

Safeguarding Customer Data: The Critical Role of Encryption in Automotive Retail

The automotive industry faces unprecedented challenges in protecting customer data privacy. As vehicle transactions increasingly move online and dealerships collect more personal information, the need for robust security measures has never been more critical. Central to this process is the use of encryption in safeguarding customer data in automotive retail to avoid privacy breaches, and how dealerships can implement encryption to protect their customers and businesses. The Data Privacy…See More
Dec 4
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John Sternal posted a blog post

DealNow Survey Reveals Consumer Frustration with Dealership Trade-Ins and Third-Party Services

FOR IMMEDIATE RELEASE  DEALNOW INDUSTRY SURVEY HIGHLIGHTS GROWING FRUSTRATION CONSUMERS FEEL WITH DEALERSHIP TRADE-IN QUOTES AND THIRD-PARTY SERVICES Consumers Believe Selling to Individuals Yields Better Prices Than Auto Dealer Trade-Ins or Third-Party Platforms Alpine, Utah – (October 29, 2024) – DealNow, a platform for private vehicle transactions, today released key findings from its latest consumer vehicle transaction survey, highlighting the key frustrations consumers have in receiving a…See More
Oct 29
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John Sternal posted a blog post

Lotlinx Wins 2024 AutoTech Breakthrough Award for “Best Use of AI in AutoTech” and VP of Commercial Operations Alex Karpyza Named To Auto Remarketing’s 40 Under 40 Industry List

Innovative AI-driven Solutions And Standout Leadership Propel The Company To The Forefront of Automotive Technology  DETROIT – Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, is proud to announce that it has been named the winner of the…See More
Oct 15
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John Sternal posted a blog post

Lotlinx Announces A New and Improved Risk Report Offering Customized Real Time Insight Into Dealer Inventory Carryover, Markdown And Aged Risk

Custom Report Offers Real-Time Visibility for Unique Dealership Inventory, Plus Key Data to Make Better Markdown Decisioning DETROIT — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today a new Risk Report, offering a unique and customized view of a dealer’s inventory carryover, markdown, and aged risk data. This free report offers insights that help dealers optimize their inventory strategy with a…See More
Oct 10
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John Sternal posted a blog post

INTRODUCING DEALNOW: THE FIRST SAFE AND INSTANT PERSON-TO-PERSON ONLINE VEHICLE TRANSACTION PLATFORM

FOR IMMEDIATE RELEASE INTRODUCING DEALNOW: THE FIRST SAFE AND INSTANT PERSON-TO-PERSON ONLINE VEHICLE TRANSACTION PLATFORM Delivers Safe, Fast, and Fraud-Free Vehicle Transactions—Offering Instant Documentation, Secure Payments, and Real-Time Identity Verification Without the Need for a Middleman Alpine, Utah – (October 3, 2024) –…See More
Oct 3
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John Sternal posted a blog post

Why the Future of Automotive Data Privacy Mirrors the Stringent Measures in Finance and Healthcare

As data breaches and cyber threats are more prevalent than ever in the automotive industry, the importance of data privacy and the sense of urgency of implementing solutions cannot be overstated. Industries like finance and healthcare have long understood the critical need to safeguard sensitive information, and they have established strict guidelines, laws, and mandates to protect consumer data. The automotive industry, however, is only beginning to catch up. Despite the introduction of new…See More
Sep 19
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John Sternal posted a blog post

Lotlinx Industry Survey On Inventory Carryover & Markdown Strategies Reveals Major Disconnects And Challenges Faced By Dealers For Modern Retailing

Many Dealers Still Leveraging Markdowns Even Though Majority Don’t See Traffic Increasing To VDPs DETROIT (September 17, 2024) — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today results of its latest industry survey, which took the pulse of today’s auto retailers in understanding how they are managing inventory carryover strategies, and where they are seeing the greatest challenge with…See More
Sep 17
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John Sternal posted a blog post

Lessons Learned From Another Summer of Selling Cars

As summer comes to an end, it’s important for dealerships to reflect on the season’s performance to refine their strategies for the rest of the year. The summer of 2024 presented many challenges, shaped by economic factors and shifts in consumer behaviors. Understanding these factors is important for optimizing inventory management and enhancing sales practices as we head into fall.  Economic Blockers and Market Dynamics: This summer was marked by many economic factors that impacted vehicle…See More
Sep 10
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John Sternal's blog post was featured

Why it’s important for auto retailers to understand their “carryover” rate when it comes to inventory risk management

Auto dealerships face a perpetual challenge: balancing inventory to meet customer demand without overstocking, which can lead to carryover inventory. Carryover inventory—vehicles that remain unsold for extended periods—ties up capital, incurs holding costs, and often requires discounting and markdowns to clear off the lot. This scenario impacts profitability and creates a cycle of reduced margins in today’s highly competitive market.  Traditionally, dealerships relied on historical sales data,…See More
Aug 18
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John Sternal posted a blog post

Cyber threats will persist until dealers prioritize secure digital transport of data

In the wake of recent cyber-attack threats and ransomware events, data privacy concerns have never been more top-of-mind for automotive dealerships and the entire industry. As auto dealers increasingly rely on digital platforms for customer transactions, especially coming out of the pandemic (COVID?), the need for robust data privacy strategies has become paramount. However, many auto dealers continue to operate on legacy philosophies, and with an “I’ll deal with it if I have to” mindset.…See More
Aug 13
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John Sternal posted a blog post

Why it’s important for auto retailers to understand their “carryover” rate when it comes to inventory risk management

Auto dealerships face a perpetual challenge: balancing inventory to meet customer demand without overstocking, which can lead to carryover inventory. Carryover inventory—vehicles that remain unsold for extended periods—ties up capital, incurs holding costs, and often requires discounting and markdowns to clear off the lot. This scenario impacts profitability and creates a cycle of reduced margins in today’s highly competitive market.  Traditionally, dealerships relied on historical sales data,…See More
Jul 29
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John Sternal posted a blog post

Trust Stamp Partners with Botdoc to Bring New Innovative ID Security to the Automotive Industry

Atlanta, GA, July 23, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) announces a partnership with Botdoc to integrate Trust Stamp’s low-code Orchestration Platform within the Botdoc Connect product, providing robust Identity Verification and KYC. The integration includes document validation using the …See More
Jul 24
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John Sternal posted a blog post

Demystifying the Myths: The Realities of Vehicle Markdowns in the Auto Industry

The practice of markdowns has long been a cornerstone of retail strategy across various industries, and the auto sector is no exception.Historically, the manufacturer’s suggested retail price (MSRP) has been a constant part of a vehicle’s pricing, and an important element of the car-shopping process for consumers despite changing economic trends over the years. As the auto industry has grown increasingly competitive, dealerships have continually sought ways to attract buyers and move inventory,…See More
Jul 22
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John Sternal posted a blog post

BOTDOC AND KPA ANNOUNCE PARTNERSHIP ON COMPLETE COMPLIANCE SOLUTION AS MANY AUTO DEALERS ARE STILL FEELING THE PAIN OF RECENT CYBER THREATS

BOTDOC AND KPA ANNOUNCE PARTNERSHIP ON COMPLETE COMPLIANCE SOLUTION AS MANY AUTO DEALERS ARE STILL FEELING THE PAIN OF RECENT CYBER THREATS Combined Solution Provides a Secure Way for Automotive Retailers to Transport Confidential Information with End-To-End Encryption Monument, Co – July 16, 2024 - Botdoc, a pioneer in end-to-end encrypted communication, announced today it has partnered with KPA, a leader in compliance software and solutions, to provide auto dealerships with an affordable,…See More
Jul 16
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John Sternal posted a blog post

The Jury Is Out: How Many Dealers Are Utilizing AI?

Based on a recent industry survey of auto dealership executives located throughout the U.S., approximately 31% of respondents said they still rely only on gut instinct to manage their dealership’s vehicle inventory. This represents almost one third of dealer executives who fall into this bucket. It is no wonder that the same survey also showed that the majority (36.9%) said they continue to struggle with managing inventory for both new and used vehicles.With so much technology now available for…See More
Apr 30
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Vendor Partner
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Merit Mile
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Director
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http://meritmile.com
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John Sternal's Blog

Botdoc Launches Botdoc Connect: Advanced Secure Document Exchange Solution for Auto Dealerships

Posted on December 10, 2024 at 4:30pm 0 Comments

Monument, Co – (December 10, 2024) – Botdoc, the global leader in Secure Digital Transport (SDT) technologies, today announced the launch of Botdoc Connect, a digital first solution that makes the process of sharing sensitive information quicker, safer, and more convenient- by automatically populating the buyer's information securely into the dealership’s CRM.

 

Botdoc enables dealerships to safely collect and share sensitive customer information easily with…

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Working Together: How Auto Industry Players Are Fighting Back Against Digital Fraud

Posted on December 10, 2024 at 9:28am 0 Comments

Three dealers had fallen victim to the same sophisticated fraud scheme in just one week. The story spreading through dealership break rooms across the country is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through WeChat. But this time, industry veterans are taking a different approach to fighting back.

 

The Fraud Scheme That's Costing…

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Safeguarding Customer Data: The Critical Role of Encryption in Automotive Retail

Posted on December 4, 2024 at 10:44am 0 Comments

The automotive industry faces unprecedented challenges in protecting customer data privacy. As vehicle transactions increasingly move online and dealerships collect more personal information, the need for robust security measures has never been more critical. Central to this process is the use of encryption in safeguarding customer data in automotive retail to avoid privacy breaches, and how dealerships can implement encryption to protect their customers and…

Continue

DealNow Survey Reveals Consumer Frustration with Dealership Trade-Ins and Third-Party Services

Posted on October 29, 2024 at 11:10am 0 Comments

FOR IMMEDIATE RELEASE 

 

DEALNOW INDUSTRY SURVEY HIGHLIGHTS GROWING FRUSTRATION CONSUMERS FEEL WITH DEALERSHIP TRADE-IN QUOTES AND THIRD-PARTY SERVICES 

Consumers Believe Selling to Individuals Yields Better Prices Than Auto Dealer Trade-Ins or Third-Party Platforms 

Alpine, Utah – (October 29, 2024) – DealNow, a platform for…

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