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vAuto Announces a New Way to Look at New Car Inventory with Conquest™ Enhancements at NADA 2020OAKBROOK TERRACE, Ill., Feb. 13, 2020 /PRNewswire/ -- vAuto announces enhancements to Conquest, its new car inventory management solution, that provide dealers with a new way to efficiently manage their new car inventory. The enhancements include an Improved Dealer Trade Tool, New Investment Comparison and Dashboard upgrades. "We talk to dealers and evaluate market trends constantly to determine the product innovations needed to keep our inventory management solutions performing at the highest level," said Randy Kobat, senior vice president of Inventory Software Solutions at Cox Automotive. "We're confident these enhancements will directly solve the challenges dealers face." Economists are predicting on-going challenges in the new car market as sales continue to level off or decline1, along with the prospect of rising interest rates. "At vAuto, we're seeing that one of the biggest opportunities for dealers is hidden in plain sight—that's better managing the capital investment tied up in new car inventory. These new Conquest enhancements help dealers proactively manage their inventory as an investment by minimizing expenses and growing profits," said Brian Finkelmeyer, senior director of new car solutions at vAuto. The 2020 Conquest upgrades include: Enhanced Dealer Trade Functionality: Trading on intuition supported by insights to reduce losses and improve inventory.
The upgrades to the Dealer Trade functionality seamlessly integrate into Conquest and use third-party data to identify which vehicles would perform best in each dealer's market, creating an efficient trade process and resulting in faster-turning inventory. "We know new car managers today have a lot on their plates. So, when a dealer receives an inbound request for a trade, they need to be sure they're getting the right car back, and quickly," said Finkelmeyer. A limited study conducted by vAuto in 2018, dealers reported they averaged 22 trades per month and 17.7% of those trades were losses.2 Those losses are the reason that vAuto enhanced the trade functionality in the platform—to take out the guesswork, helping Inventory Manages, like Turner Silk, avoid losses. "The new Dealer Trade tool in Conquest takes the hassle out of trades by having all of the information and relevant inventory available without having to manage the back and forth often associated with manufacturer-provided OEM tools. Having the necessary information readily available prevents us from taking the wrong vehicle back in exchange and keeps our inventory flowing smoothly, not to mention the overall time it saves with the transaction," said Turner Silk, Inventory Manager at Glenn Ford Lincoln/Glenn's Freedom CDJR. New Investment Comparison: Know when you're selling the oldest inventory with new, easy-to-interpret visuals.
"We know from continued market research and conversations with our clients that dealers feel they're doing the best they can with new cars and there's no room to improve. We at vAuto feel differently and we're confident that with enhancements like these and those to come, we can position dealers to out-think, not out-spend the competition," continued Finkelmeyer. Dashboard Upgrades: Minimize the time and effort it takes for you to check in on new vehicle inventory, identify potential issues and execute strategic adjustments. Updates include the following:
To see the enhancements in action, stop by booth #2316C at NADA. For more information, call 888-536-4086 or visit https://www.vauto.com/products/conquest/. 1Sources: https://www.nada.org/NADA-2020-Economic-Forecast/ and https://www.spglobal.com/marketintelligence/en/news-insights/trending/obczpthzbdumupsf8bostw2 2vAuto Fall 2018 Dealer Trades Study November 6, 2018 (page 8) About vAuto vAuto's solutions also include Conquest, a new vehicle inventory management and pricing system, and Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform. Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand. About Cox Automotive View original content to download multimedia:http://www.prnewswire.com/news-releases/vauto-announces-a-new-way-to-look-at-new-car-inventory-with-conquest--enhancements-at-nada-2020-301004802.html SOURCE vAuto |