Novel AI-based Car Dealership Analytics Platform Gives Consumers An Edge
Automotive technology platform Topmarq releases a new AI-based service aimed at giving consumers more transparency into the dealerships nearby using actionable data.
AUSTIN, Texas, March 23, 2023 /PRNewswire/ -- Topmarq Inc today announced the beta release of a novel car dealership analytics platform that leverages AI and data to improve consumers' search for a new or used vehicle. The service gives potential buyers the ability to find dealers in their area using actionable insights like average vehicle prices, model specialities, and more.
According to Autotrader, 78% of car shoppers use 3rd party sites to find their future vehicles. Despite this massive adoption rate, the typical consumer journey remains the same as it was a decade ago. Start on a 3rd party site, and then trial-and-error vehicle searches until finding something.
Topmarq's new AI-based analytics platform is aimed at solving the workflow for consumers who fall through the cracks with current solutions. "After working with thousands of buyers and sellers in the space, I realized that solutions for people like my mom - who have no clue what cars exist and don't even know where to start on place like CarGurus - are greatly lacking", says founder Quinn Osha.
The service leverages the OpenAI API to extract and analyze the unique specialities of thousands of dealers across the country. Topmarq then allows buyers to search based on generic categories. For instance, to find dealers with sub-$10k inventory, a heavy crossover focus, or a large truck inventory. Lone Star Chevrolet and Robbins Chevrolet, for example, sell vastly more pickups than anything else. As such for someone looking for a truck but unsure which model would do well to take a look there as they begin their journey.
The service is being released as a limited public beta and is currently focused on Texas area dealerships. The company is led by CEO and founder Quinn Osha, a Caltech graduate and former engineer at Axon. Paul Weitz, the CEO of a Hi-tech motorcars and Central Automotive Group is an advisor with the company.
Topmarq lets users compare cash offers from dealers across the country in less than 5 minutes using just a License Plate or VIN and some basic vehicle information. Using basic vehicle details, Topmarq generates offers from multiple dealers and makes comparing the quotes as easy as searching for flights on Kayak.
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SOURCE Topmarq, Inc