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$16 Million in Bonus Safety Recall Revenue Generated for Rapid Recon Users
[February 12, 2020]

$16 Million in Bonus Safety Recall Revenue Generated for Rapid Recon Users

PALO ALTO, Calif., Feb. 12, 2020 /PRNewswire/ -- Rapid Recon, the creator of time-to-line (T2L) vehicle reconditioning solutions, reported today that dealerships using its safety recall management application had generated an additional $16 million in recall-related service repair revenue.

Auto Reconditioning Time-to-Line (T2L) Creator Rapid Recon celebrates 10 years with introduction at NADA '20 of two new workflow accountability and productivity products and release of latest vehicle inventory turn business book, Inventory is a Waste. (PRNewsfoto/Rapid Recon)

Auto dealers, always confident, insist their manual or traditional recall identification processes catch every safety recall issues. But not according to AutoAp the industry's leading safety recall-management technology company.

AutoAp Founder and Chief Executive Officer Mark Paul said insights from more than six years' serving auto retailers shows that dealers using the company's safety recall management technology find between 8% to 12% more vehicles affected by safety recalls. These are safety recalls that a dealer's manual recall inspection process or use of traditional safety recall services fail to find.

"We're finding that for every 100 vehicles having at least one safety recall, a total of 124 total recalls will be found by our process," Paul said.

"When dealers aren't able to identify all safety recalls on the vehicles they buy and sell, they put consumers at risk – and are losing $343 per incident in average warranty reimbursement revenue," said Dennis McGinn, founder, and CEO of Rapid Recon.

Safety recalls remain a significant concern for the auto industry and its retailers. Though the frequency of newly reported safety recalls is about the same year-over-year, safety recalls will remain an ever-present risk due to the increasing complexity of new safety features OEMs are delivering – and when properly managed, an opportunity -- for dealers.

AutoAp's safety recall solutions ensure that dealers receive the highest-quality, most accurate and timely safety recall information possible, reducing their recall liability, eliminating confusion, and the manual effort associated with managing the complex world of safety recalls.

At NADA '20, McGinn will be speaking about safety recalls and other reconditioning issues, including Rapid Recon's new Live Locate and Vendor Advantage enhancements to its industry-leading reconditioning software for improving inventory turn and per-car revenue.

Visit Rapid Recon at NADA '20, Booth 2693C, Central Hall.

Jim Leman 

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SOURCE Rapid Recon

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