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…

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…

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…

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…

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…

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…

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…

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…

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 …

The practice of markdowns has long been a…

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…

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…

In the years immediately following the COVID-19 pandemic, auto dealers experienced a paradigm shift in inventory management, pricing strategies, and overall business operational strategy. The unprecedented circumstances led to a period where inventory acquisition was viewed as a “get it however you can” mentality. However, as the market dynamics for supply chains have reverted back to a more pre-pandemic landscape, combined with a still-challenging economy, dealers find themselves facing new…

DETROIT – December 14, 2023 - CerebrumX Labs Inc. (CerebrumX), a leading AI-driven automotive data management company, announced today results of a recent industry survey designed to take the pulse of fleet business leaders who have begun to utilize Artificial Intelligence (AI) connected vehicle technologies, and what type of results and/or cost savings they have identified for their operations.

CerebrumX presented an online survey to more than 2,000 fleet…

For many years, auto dealerships have constantly adjusted inventory expectations due to shifting supply chain constraints and lot management challenges. These constraints have impacted vehicle acquisition, parts sourcing and transport of new vehicles. Fleet allocations will only continue to grow, and it is important for fleets and auto retailers to identify new solutions via advanced connected vehicle data to maintain profits and customer expectations.

Fleets &…

Guidepoint Systems will use the CerebrumX embedded telematics data platform to help fleet companies and auto dealers optimize their front-line operations by making it easier and more efficient to track their inventory, as well as locate vehicles/keys and more.

NOVI, Mich., Nov. 8, 2023 -- CerebrumX Labs Inc. (CerebrumX), an AI-driven…

Over the last few years there has been plenty of chatter about the new Safeguards law that went into effect earlier this year. As has been widely reported, the law requires auto dealerships to obtain clear and informed consent from website visitors before collecting and using their personal data, among many other components to the legislation and new requirements.

However, there are finer details of the new Safeguards law that many dealers still have yet to comply with.…

WOLTERS KLUWER THIRD QUARTER AUTO FINANCE DIGITAL TRANSFORMATION INDEX SHOWS DIGITAL ADOPTION RATE MIRRORING AUTO SALES

Macro Picture Shows Large Jump In Digital Adoption; Securitization Markets Also Seeing Notable Increase in Third Quarter

NEW YORK – October 30, 2023 – Wolters Kluwer, a global leader in professional information, software solutions and services, announced third quarter results and analysis from its…

As July marked Right to Repair Awareness Month in the automotive aftermarket, there hasn’t been a better time than now to spread awareness about the importance of preserving Americans’ right to repair their vehicles, especially as congress continues to debate the necessity of the federal Right to Equitable and Professional Auto Industry Repair (REPAIR)…