The automotive technology company announced it’s expanding its partnership with GM by joining the automaker’s equity mining program.

DAS said its consumer data and experience platform, CDXP Complete, includes equity mining capabilities such as matching customers with equity or nearing an equity position on their current vehicle and tracking engagement with its automated communications. The platform also offers integrations with many DMS and CRM systems.

The company said CDXP Complete, which is available to GM’s 4,000-plus U.S. dealerships, enables identity resolution within consumer data between the CRM and DMS, integrates advanced vehicle analytics and provides “additional proprietary features that target the right communication to the right consumer at the right time.”

DAS Technology’s relationship with GM dates to 2013, when the OEM named DAS as its first approved reputation management technology affiliate. Other DAS products that have since been approved for GM’s in-Market Retail co-op funds program include AI chat, real-time lead-quoting/nurturing SaaS and social media engagement technology.

GM has also approved DAS Technology’s CDXP Complete SaaS for IMR funds as a turnkey equity mining solution.

“We are honored that General Motors continues to recognize the value of our technology solutions,” DAS Technology co-founder and CEO Alexi Venneri said in a news release. “Dealers appreciate how innovative we are, continually evolving new SaaS solutions to improve the customer experience and leverage data at every step, which results in more satisfied consumers choosing to buy and service with GM dealers.”

The DAS team has joined GM on a 14-city Convert More Leads Workshop tour for dealers, which began in Detroit this week and will end in November on the West Coast. CDXP Complete and DAS Technology’s consumer engagement products will be displayed in each city’s vendor village.

“General Motors recognizes DAS Technology’s value that its suite of solutions provides to GM dealers across the country,” GM lead management equity mining and BDC manager John Kraemer said. “Equity and data mining are crucial for auto dealerships because, when combined, they can analyze insights and convert them into actionable communications targeting consumers with the right message at the right time.

“It helps our dealers unlock the untapped potential within their data in existing systems — driving increased sales, improved service results, customer loyalty and profitability.”

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With newly enhanced GPS tracking and monitoring tools, alongside robust connected vehicle technology, Safepoint dealerships can take advantage of the following benefits:

—A direct communication channel between the dealer and the customer via on-board diagnostic and service scheduling alerts to recapture service appointments.

—100% visibility across lot inventory for low battery and fuel alerts, reducing waiting time for customers and decreasing time to sale.

—A three-click service scheduling process, reducing the dropout rate of lost service appointments by half. (Industry rates sit at between 14 and 21 clicks to an appointment, according to SafePoint.)

—The ability to manage inventory across multiple lots and thwart stolen vehicles through monitoring, alerts and tracking.

—Up to $100,000 additional gross per month through resale of SafePoint vehicle safety monitoring, vehicle tracking and recovery, and vehicle health monitoring devices.

Troy Duhon is the owner of Premier Automotive Group and described his experiences with the tool through a news release provided by SafePoint.

“Since installing SafePoint to manage and monitor our lot inventory we’ve generated an additional $80k-$100k per store, per month, in gross profit and have seen a continued increase in booked service appointments,” Duhon said. “But the biggest benefit of all is the connected car technology and using the diagnostic alerts to recoup our own service customers and bring them back to our bays.”

While continuing to eliminate disruptions to the sale through tracking features like low battery, fuel and theft alerts, SafePoint highlighted the company recently unveiled a connected car feature that pushes diagnostic information to the driver and encourages them to make a service appointment.

In this way, SafePoint said the tool can open a crucial line of communication between drivers and their local dealer by encouraging the scheduling of a service appointment.

“We created SafePoint to eliminate as many roadblocks that disrupt the road to sale as we could,” SafePoint founder Dean Powery said. “We monitor lot inventory management issues by providing low fuel and battery alerts, we increase communication with drivers by pushing diagnostic information to them and enabling them to easily schedule an appointment. We bring customers back to the dealership’s own service department and keep the line of communication open between customers and their dealership in order to increase retention.

“Think of SafePoint as your one stop shop to monitor, track, communicate and retain customers across dealerships,” Powery added.

For more information on SafePoint and its suite of tracking, monitoring, and connected vehicle solutions, watch this video or visit www.safepointgps.com.

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The company’s technology allows automakers, dealers and rental car companies to provide vehicle usage models like car subscriptions and micro-leasing. Porsche, Subaru, Polestar and SIXT are among the companies to which it provides mobility management software.

The round includes funds from existing investors Upswell, Common Sense Ventures and Luxem, plus new investors AeroCorp, a major AVIS licensee, and RAC venture capital arm BetterLabs.

Its network includes more than 55,000 vehicles.

“Car subscription is already financially attractive for consumers, particularly consumers who prioritize flexibility,” co-founder Michael Higgins said in a news release. “As automakers refine their pricing models, we anticipate further reduction in costs.”

He later added: “The automotive industry is undergoing rapid innovations with electric and autonomous vehicles. The next significant breakthrough will be in transforming the car ownership experience, especially as vehicles increasingly incorporate advanced technology.”

Higgins contends that consumers are starting to find vehicle access more attractive than vehicle ownership.

“We are confident that flexible ownership alternatives will soon be the default choice for hassle-free, affordable vehicle access,” he said.

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The automotive digital retail software provider announced it has joined the Amazon Web Services Partner Network (APN) as a software partner.

The APN is a global community of AWS partners that leverage programs, expertise and resources to build, market and sell customer offerings. CarNow said membership in the APN enables it to provide technology to streamline automotive dealership operations and facilitate seamless transactions between dealers and their clients.

Through the APN, CarNow will have access to AWS’s generative artificial intelligence tools. The company said it will initially focus on incorporating that AI capability to create an enhanced customer experience, using machine learning to optimize business operations for clients and helping customers increase productivity.

“There’s an accelerating need for technologies that can help businesses streamline their operations, perform more efficiently and improve the overall customer experience while boosting the bottom line,” CarNow vice president of applications Chelsea Beerse said in a news release. “The number of companies that claim to be able to deliver high-value technology solutions has proliferated at a breakneck pace. AWS created its partner network to ease the process of finding a trusted technology partner.

“Further, our joining the APN communicates to our current and potential customers that we are enhancing our solutions by incorporating technologies such as generative AI that add profound value across the board.”

CarNow joins a global network of 100,000 partners from more than 150 countries working with AWS to provide innovative solutions, solve technical challenges, win deals and deliver value to mutual customers.

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MPH.com said the partnership is designed to build consumer trust, increase quality leads for dealers and accelerate transaction times.

The integration of CARFAX reports into the marketplace, MPH.com said, promotes transparency in the vehicle purchasing process by providing potential buyers with extensive history information on exotic vehicles, including any previous reported accidents, service records and details about ownership history.

Listings that include CARFAX reports will be identified by a logo and descriptive text accompanying the listing.

MPH.com executive vice president Mackenzie Valk said the integration “not only enhances transparency but also fosters consumer confidence within our platform. This represents a significant advancement in our ongoing commitment to providing an unparalleled online shopping experience and establishing our platform as the premier destination for luxury automotive purchases.”

MPH.com features exotic, hypercars and supercars, facilitating connections between clientele and luxury dealerships across the U.S. and Canada.

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FordDirect is a joint marketing and advertising joint venture between Ford Motor Co. and its dealers that serves as the data hub connecting them. In that capacity, it collects data, including direct streams of incentives and digital content, that allows FordDirect to analyze consumer interactions.

The partnership integrates that data with DriveCentric’s CRM platform, which the company said combines automation, engagement tools and real-time insights to offer the dealers the capability to drive retail sales and strengthen brand loyalty.

In a news release, DriveCentric said its platform, enriched with FordDirect’s data feeds, provides “actionable insights, enhancing decision-making processes and offering in-the-moment coaching for sales teams.”

“At FordDirect, we strive to be an indispensable partner to Ford dealers and Lincoln retailers in new ways by offering choice with partners like DriveCentric,” CEO Dean Stoneley said in the release. “The dealers with DriveCentric love the product, which is why we decided to make it even more widely available to give new options for technology that helps dealers focus on their business and their customers.”

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“Now more than ever, delivering personalized ad experiences is top of mind for the automotive sector,” Constellation CEO and co-founder Diana Lee said. “Constellation’s philosophy is not just about reaching the right person, but also crafting the right message and utilizing the best medium to reach target audiences.

“Together with S&P Global Mobility, we are confident we can provide the best ad experiences to automotive customers.”

Constellation said its proprietary Modular Content Assembler tool creates compliant templatized creative at scale for brands, replacing manual creation for digital channels, television, video and more.

The scalability of the tool allows the development of assets that speak directly to diverse subsets of audiences, the company said.

“As content consumption is increasingly fragmented, this partnership comes at a pivotal time, when advertisers are looking for new, innovative ways to appeal to automotive consumers,” said Adam Lobelson, executive director of S&P Global Mobility’s Polk Automotive Solutions. “The synergy of Constellation’s modular creative platform and S&P Global Mobility’s deep audience insights represents an advancement in marketing precision.”

The partnership follows two new additions to Constellation’s executive team — Bill Berry as general manager of life sciences and healthcare, and Daniel Bisgeier as chief financial officer, both of whom have more than 25 years of experience in their industries.

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SHAED, which stands for Shared, Hydrogen, Autonomous, Electric and Distribution, has been funded by a seed preferred round led by EnerTech Capital, along with Powerhouse Ventures, Pritchard Companies CEO Joe Pritchard and two undisclosed corporate strategic partners.

In a news release, the company said its goal is to “redefine the way we think about sustainable transportation through education, the digitization of legacy processes and AI-driven recommendation engines.”

The new CommercialEVs.com marketplace is designed to connect “all stakeholders and stages within the lifecycle of commercial vehicles, seamlessly integrating the physical, technological and operational aspects of mobility.”

The company said the marketplace “fosters engagement among all stakeholders in a standardized, collaborative environment, simplifying the successful deployment of EVs at scale.”

SHAED said CommercialEVs.com is the first product of the company’s road map for its platform, which includes:

• The entire vehicle lifecycle from concept through manufacturing, charging and support services and from acquisition to disposition.
• Software and tools, including digitization of legacy processes, infusing artificial intelligence into workflows, streamlining operations and enabling automation.
• Helping businesses transition to sustainable solutions.

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The integration includes enhanced tracking through the CarNow digital retailing suite, which the companies said improves Mastermind’s ability to detect customer activity and extract relevant customer information, supporting proactive engagement and hyper-personalized marketing to the most qualified customers.

“The strategic partnership with CarNow is just the latest step we’ve taken to help our dealership partners continue improving the overall consumer experience,” automotiveMastermind chief product officer Aaron Baldwin said in a news release. “CarNow’s real-time digital retail platform combined with Mastermind data is a great showcase of how dealers can modernize the consumer shopping journey through first-party data and heightened connectivity.

“In today’s competitive automotive retail landscape, customers no longer see these functions as optional. We’re equipping our partners with the data and tools they need to stay ahead.”

The deal is the latest for automotiveMastermind, which over the past 15 months has previously completed integration partnerships with more than a dozen companies, including Reynolds and Reynolds, Tekion, Elead/CDK and DealerSocket.

The most recent integration populates CarNow with Mastermind data, which the companies said creates a navigational pathway to purchase dealership sales teams can use when engaging specific customers.

The integration allows CarNow to use Mastermind predictive models in online vehicle sales workflows, and enhances Mastermind’s accuracy by using real-time data from CarNow’s chat and digital retailing tools to identify who dealers should market to, what offers will inspire customers to buy and how soon dealers should begin marketing.

“We are excited to integrate Mastermind’s personalized and predictive insights into our CarNow platform to improve both the consumer shopping experience and the dealer salesperson experience,” CarNow chief product officer John Lilly said. “We are constantly looking for ways to improve the conversations dealers are having with car shoppers using our products, and we strongly believe partnering with Mastermind will result in a measurable increase in the quality of those conversations.”

The companies said functionality of the CarNow integration will be available for dealers using Mastermind later this year.

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On Tuesday, the provider of automotive call monitoring systems made an even bigger move, announcing the acquisition of TotalCX, a leading call management platform and integrated hosted telephony solution.

CallRevu called this a “pivotal integration,” establishing the company “as the leading force in the industry, poised to drive transformative changes and deliver unprecedented value to clients and stakeholders alike.”

Dexter Hopen is partner at Serent Capital, which invests in profitable, growing software and services companies and has CallRevu in its portfolio.

“Bringing together TotalCX’s unique technology and talented team with CallRevu’s position as a market-leading automotive communications platform is an exciting new advancement,” Hopen said in a news release. “We look forward to partnering with these remarkable teams to accelerate innovation and drive superior value for customers.”

Ben Chodor is CEO of CallRevu.

“CallRevu and TotalCX share a common ethos focused on innovation and excellence, as well as an unwavering commitment to customer satisfaction. This combination amplifies our capabilities, enabling us to deliver a comprehensive suite of solutions,” Chodor said. “By joining forces, we can deliver exponential value, allowing us to provide our clients with the best in technology and service.”

Jack Behar and Gary Graves co-founded TotalCX, which used TD Securities as its financial advisor and Clifford Chance as its legal advisor to TotalCX.

“Joining forces with CallRevu marks a new chapter for us, filled with vast opportunities for growth. This allows us to elevate our offerings and bring added value to our clients,” Behar said.

Graves added, “By coming together we can combine our strengths and deliver an even richer portfolio of innovative, first-to-market solutions that will continue to set new industry standards.”

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Rain found that the current pace of innovation and evolution in automotive requires the four major constituents — dealers, OEMs, technology suppliers and investors — to work together. Current industry events were not offering the right combination of roundtable, networking and strategic dialog to facilitate the needed engagement.

So, she made one. Rain, industry veteran and entrepreneur, created AutoTech Investments (ATI) to provide a value-based event series to explore the latest tech trends, forge strategic partnerships, and uncover new investment opportunities. Her vast network, industry experience and marketing chutzpah paid off with a successful, standing-room-only first event at NADA Show 2024.

The second event will take place June 10 at the Ritz Carlton in Marina del Rey, Calif., the day before another high-value event, CXAUTO, kicks off. The venue is luxurious, with plenty of beachfront options to keep the family entertained if attendees want to double the trip as a family vacation.

In collaboration with Greenfield and supported by companies like TradePending, TD Securities, Informativ, FM Capital, HopDrive, TruVideo, RevDojo, Rejoule, Bizzycar and others, ATI is laser-focused on connecting automotive technology companies with the investors and resources they need to drive innovation and growth as well as the customers of that technology — dealers and OEMs.

It’s designed as an educational networking event with afternoon sessions, a VIP dinner, and a reception. It is ideally situated for West Coast dealers and OEMs who do not have the time to travel to two-to-three-day events.

To attend, you need to request an invite. It’s not one of those events that you can just pay your way into. Tickets are complimentary to dealers and OEMs. ATI organizers expect to reach capacity early — over 350 registered for the 150 seats at the NADA event.

Michelle Denogean, former CMO for Roadster and current CMO for Mindtrip, said, “ATI is a confluence of progressive dealers, innovators and investors. It’s the bridge that brings these people together for discussions, networking and learning.”

At this year’s event, Denogean will lead a presentation about growth based on her personal experience leading the marketing for technology start-ups in two industries. She will present material from her new book entitled Grow Up, which seeks to advise start-up founders on the skills needed in every phase of growth and development of a new business.

Likewise, Charlie Vogelheim, host pilot of The Flying Car and principal of Vogelheim Ventures, attended the first event and is scheduled to moderate several sessions at the June event.

About the NADA event, Vogelheim said, “ATI is on the cutting edge in how dealers operate. The technology is disruptive and may even challenge the norms of today’s dealership operations. Dealers need to be at the forefront of these changes in order to benefit the businesses, employees, customers and communities they serve.”

The event features Shark Tank pitch sessions, meticulously curated audiences, and insightful panels aimed toward investment and integration opportunities. The Shark Tank, sponsored by DetectAuto and Gather, allows early-stage automotive technology companies to present their innovative solutions to a panel of esteemed judges from investment firms and dealership groups. The judges will provide valuable feedback and insights, potentially unlocking new investment and partnership opportunities for the participating startups and dealers.

Chase Fraser, managing partner at FM Capital, will moderate a fireside chat titled, “Disruptors in Technology.” He noted that “the Shark Tank pitch session allows start-up founders to test their messaging in front of VC judges and the broader industry.

“This exposure is great for their presentation skills and their ability to condense their company’s value proposition,” Fraser said.

From an entrepreneur’s perspective, the event offers invaluable education. Tech founders have the opportunity to meet face-to-face with investors of all stripes — venture capitalists, private equity, angel funds – and learn what types of investors they need to move their business forward.

Guided by industry luminaries such as Steve Greenfield and Glenn Mercer, the presentations and panels will delve into the latest mergers and acquisition trends, as well as cutting-edge industry analyses.

According to Greenfield, “this event is different because the content is highly curated and moderated. It’s important to ensure that the information is relevant to everyone in the room, and that it is timely. Not a sales pitch.”

Nick Mottas, co-founder and CEO of HopDrive, is an advocate for ATI.  With six years under his belt at HopDrive, Mottas said that “ATI helped us find our voice and transition from being a start-up to a business with leaders who are experts both in automotive transportation and also  the business of business.”

Greenfield advises that dealers who want to see the latest technology and industry trends need to be in the room.  He added, “likewise, established businesses interested in growing their tech stack and solutions for dealers and OEMs benefit from the contacts and conversations.”

Register now for the ATI event on June 10th by visiting www.autotechinvestments.com.  The timeframe is 1 to 8 p.m., making it easy to get to whether you are flying in or navigating LA traffic.

Attendees at ATI receive a 50% discount to the immediately following CXAUTO event at the same venue.

For those interested in attending or learning more about ATI, visit the event’s website (www.autotechinvestments.com) or follow them on LinkedIn at https://www.linkedin.com/company/auto-tech-investments/about/.

Jennifer Sanford is an experienced SaaS marketing leader passionate about the retail automotive experience. Jennifer is the founder of Sanford Marketing Group, an agency specializing in B2B marketing strategy and project management. Jennifer loves a well-designed conference. She helps her clients maximize their brand presence and ROI at every event they attend.

The post What to expect at expos: AutoTech Investments, a who’s who forum for investors, tech founders, dealers and OEMs appeared first on Auto Remarketing.

McBride’s background includes more than 19 years with HomeNet Automotive, a Cox Automotive company, including stints as vice president of business development and chief operating officer.

Xcite said McBride’s “deep understanding of the automotive market” will be instrumental in accelerating the company’s strategic partnerships and the global expansion of its enterprise technology platforms.

Andy McBride

“Andy’s appointment shows our commitment to driving innovation in automotive technology,” CEO Phil Penton said in a news release. “His proven track record in building partnerships, along with his industry knowledge and vision, will be essential as we grow our business worldwide.”

McBride said Xcite’s “focus on technology-driven solutions, like Automated Quality Assurance and Enterprise Inventory AI, perfectly aligns with the evolving needs of the automotive industry. Xcite’s innovative platforms have the potential to transform how businesses operate, and I’m eager to drive their adoption on a wider scale.”

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Click-Ins has launched in the U.S., opening a headquarters in Kansas City, Mo., and appointing Charles Lukens as its new CEO as part of the company’s global expansion strategy.

In a news release, Click-Ins said its move into the American market comes after 10 years of research and development in Israel on its visual intelligence technology for damage detection and classification.

“Unlike many startups that prioritize capital-raising and rush to market, we chose a different path at Click-Ins,” co-founder and chairman Eugene Greenberg said in a news release. “From day one, our focus was on perfecting our product. We spent a decade developing, refining features and enhancing the user experience to create the most intuitive AI vehicle inspection technology available.”

Lukens comes to the company with more than 25 years of experience in the auto industry. Click-Ins said his “distinguished track record in transforming vehicle repair processes through innovative technology,” including roles with APU Solutions, Omadi Mobile Management and Estify, “complements the expertise” of co-founders Greenberg and Dmitry Geyzersky.

Lukens said with Click-Ins’ move into the U.S. market, “we are set to redefine how vehicle inspections are conducted” in various automotive sectors.

“Our technology eliminates the need for bulky and expensive stationary booths, enabling businesses to perform detailed inspections from anywhere, at any time,” he said. “Click-Ins stands out for its unrivaled accuracy, exceptional ease of use and universal accessibility.

“We are laser-focused on bringing our advanced technology to every automotive industry manager and end user, enhancing their operational capabilities and transforming their approach to vehicle management.”

Click-Ins said its mobile-friendly platform provides “near-perfect” damage detection with detailed visualizations of vehicle damage, which it said, “significantly improves the efficiency and accuracy of vehicle inspections.”

“After successfully launching in Israel and Europe and incorporating valuable user feedback, we’re bringing our proven technology to the U.S. market,” Greenberg said. “Our commitment has always been to the functionality and quality of our product because we believe true value lies in reliability and user satisfaction. It’s only when a product works precisely that it’s ready for the people who need it most.”

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The provider of communications technology for the automotive retail industry said this partnership represents another stride into brand reputation management, leveraging Merchant Centric’s expertise to enhance the overall customer experience.

Executives highlighted Merchant Centric, known for its approach to managing and analyzing customer feedback across various platforms, aligns with CallRevu’s mission to revolutionize customer interactions through intelligent communication and comprehensive analytics.

By combining Merchant Centric’s advanced reputation management tools with CallRevu’s interaction intelligence software, the companies said automotive retailers will benefit from a more cohesive approach to managing consumer perceptions and interactions.

The partnership between CallRevu and Merchant Centric is geared to deliver immediate benefits to clients, including:

—Advanced analytics and insights to monitor and improve brand reputation benchmarks such as customer satisfaction index (CSI) against the competition

—Integrated communication strategies that align responsive brand building engagement with customer expectations

—Streamlined processes to efficiently address customer feedback and reviews, ensuring quick and informed resolutions for optimal outcomes

Looking ahead, CallRevu and Merchant Centric said they are dedicated to continuous innovation and the development of new strategies to further enhance customer reputation and engagement, driving dealership performance.

“Welcoming Merchant Centric to our Center of Excellence marks not just an expansion of our network but a substantial enhancement of our capabilities,” CallRevu CEO Ben Chodor said in a news release.

“By deepening our understanding of what customers and prospects are saying, we are set to transform brand reputation management for dealerships. Together, we’re empowering automotive dealers to elevate customer satisfaction and loyalty, crucial advantages in today’s competitive market,” Chodor went on to say.

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With so much technology now available for dealership executives, are you still relying on gut instinct to make critical decisions for your dealership?

Who is using AI in auto?

In an era where technological advancements are completely changing entire industries at an unprecedented pace, auto dealerships are feeling the pressures to change. Many auto retailers have either embraced, or are seriously looking at implementing, some sort of integration of advanced analytics, artificial intelligence (AI), and/or predictive modeling (PM) into core business processes. Particularly, the utilization of AI in inventory management and pricing strategies is chartering a new age of efficiency and competitiveness in today’s industry.

But it’s not clear-cut across the board, and it’s important to drill down into some specific areas of recent research to get a better sense of where these gaps remain in 2024.

Traditionally, managing inventory in auto dealerships has been a labor-intensive task, often prone to errors and inefficiencies. However, with the advent of AI technologies, dealerships now have the tools to revolutionize their inventory management practices. AI-powered systems can analyze vast amounts of data in real-time, enabling dealerships to optimize their inventory levels, anticipate demand trends, and streamline their procurement processes.

While 38.7% of respondents are currently leveraging the capabilities of AI/ML or predictive modelling data to manage inventory and adjust pricing levels, another 36% are not, which reveals the increasing need for industry solutions to predict market factors that drive VIN-specific outcomes in real-time.

Understanding what AI can do for dealers

This is important because today’s VIN risk mitigation platforms are helping dealers not only forecast inventory risks and implement corrective actions at the VIN level to reduce the time vehicles spend on lots, but also helping them earn higher profit margins and enhance competitive market performance.

Additionally, the largest number of respondents (44.1%) said they don’t feel confident in the current results they are receiving from current investments when understanding their largest inventory marketing pain point. VIN platforms now automatically allocate marketing resources to offset aging and markdowns, ultimately improving dealer performance and profits. Combined with AI-assisted chatbots, dealers can leverage this technology to realize comprehensive, market and competitive data for every vehicle on their lot.

This is important as it helps to recognize how this level of information can enhance the customer experience and increases the likelihood of closing a sale, while also allowing dealerships to establish a pricing strategy that aligns with customer expectations and loyalty.

AI-powered VIN-specific pricing algorithms and platforms offer a more sophisticated approach to pricing optimization, taking into account a wide range of variables such as supply and demand, competitor pricing, consumer demographics, days’ supply and incentive fluctuations, and even macroeconomic trends. By analyzing this wealth of data, AI systems can determine the optimal price point for each vehicle in real-time, maximizing revenue while maintaining competitiveness in the market.

Beyond improving operational efficiency and profitability, the integration of AI into inventory management and pricing strategies has significant implications for the customer experience. By ensuring that dealerships stock the vehicles that customers want, when they want them, AI helps to enhance customer satisfaction and loyalty. What’s more, the real-time pricing adjustments, taking incentives into consideration, will ensure the customer is getting a fair, competitive offer, without the dealer having to compromise unnecessary profit inside the sales manager’s office.

These recent survey results tell us that auto dealers can no longer rely on manual methods, industry experience, and overall ‘gut instinct’ to manage inventory and determine pricing. By leveraging the power of AI through predictive analytics, auto dealers can anticipate demand fluctuations, enabling them to adjust inventory levels proactively.

Len Short is the executive chairman of Lotlinx, which offers an inventory platform that can enable dealers to automatically adapt to market dynamics, mitigating inventory risk through VIN-specific strategies. For more information, visit www.lotlinx.com. 

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The MIX platform is designed to empower software providers with an “integrate once, connect to many” approach, allowing automotive software vendors to connect not only with Dealertrack’s dealer network but with several other DMS provider networks as well.

Motive Retail said its collaboration with Dealertrack creates “a more interconnected and efficient automotive retail environment,” simplifying the integration process to allow software providers to “reduce the complexity and challenges associated with integrating proprietary systems via API” and create operational efficiency for dealerships.

Cox Automotive Dealertrack’s Opentrack API integration program offers open architecture, encouraging a wide array of technology in the automotive industry.

Motive Retail said the synergy with its MIX platform ensures “a more agile and responsive technology infrastructure for all stakeholders.”

The company said its certification in the Opentrack API program will help Motive Retail “make a significant impact on the future of dealer management system integrations, reinforcing its dedication to driving progress and innovation in automotive retail technology.”

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STELLA said the funds, which include both newly invested capital and outstanding convertible notes that converted into this Series A issuance, will be used to drive market growth and support ongoing product enhancement and development.

The capital came from existing backers and several new investors from the auto retail sector, Presidio said, including strategic partner Reynolds and Reynolds and nine new strategic dealer investors: Qvale Auto Group, OREMOR Automotive Group, Mills Automotive Group, Bowers Automotive Group, MileOne Autogroup, Flow Automotive, MBB Auto Group, Ford Family Investments and West Herr Auto Group.

“The excitement the market is showing for STELLA’s AI technology is thrilling,” CEO Rich Sands said in a release. “Since our founding, STELLA has aimed to put dealers first as it delivers products that both improve dealership efficiency and drive a best-in-class customer experience. The confidence demonstrated by our investors in this Series A round further validates our vision of driving transformational change in auto retailing with our technology.”

STELLA’s AI assistant is designed to simultaneously handle unlimited inbound calls as it engages in natural language conversations 24/7 to improve the customer experience. The company said the assistant is trained on a wide range of automotive retail topics and can answer frequently asked questions, as well as scheduling service and sales appointments.

The expansion of STELLA’s strategic dealer investor group allows the company to continue to enhance and expand its technological capabilities.

“Having dealers on board as early investors and users of STELLA’s technology creates a symbiotic relationship that benefits both parties,” Presidio managing director Keith Style said.

“Strategic investors who have deployed those solutions provide real-time feedback, enabling STELLA to quickly enhance its current product offerings and develop a robust roadmap of future products that dealers want to deploy in their stores.”

STELLA’s products integrate with existing dealership software offered by dealership software provider Reynolds and Reynolds, which gives STELLA another avenue to test and refine its AI solutions.

“As we look to the future of automotive retail and the positive impact artificial intelligence can have, two things are clear,” Reynolds president Chris Walsh said. “First, the broader an ecosystem we can build for AI to interact with, the more powerful it will be. And second, the data layer AI technology uses to make decisions will determine how much benefit it will have for retailers and our industry as a whole.

“Our investment in STELLA is a great launching pad to take AI in automotive retail to the next level.”

Presidio CEO Brodie Cobb said Reynolds and Reynolds’ involvement “underscores the tremendous value inherent in STELLA’s technology and its ability to improve dealership efficiency and profitability and enhance the customer experience.”

“The industry’s strategic venture investors see huge potential in artificial intelligence to transform the aspects of vehicle sales and service that haven’t always worked seamlessly,” he said. “STELLA’s innovative products and this successful financing round further cement the promise AI holds for the industry.”

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The company said Johnson’s primary mission is leading the strategic growth and product launch and development of Repairify’s asTech Mechanical, a provider of remote diagnostic tools.

“Ben brings a wealth of talent and knowledge,” asTech president Craig Edmonds said. “He’s been transformative everywhere he’s been. And as we expand this line of business, we have no doubt he’ll have those same results leading business development and product management for asTech Mechanical.”

asTech Mechanical is designed to enhance the functionality of Repairify’s patented technology for collision centers, improving support for mechanical repairers by connecting remotely to asTech’s authentic OEM tools to perform functions such as vehicle health checks, programming and calibrations.

Ben Johnson

Repairify said asTech Mechanical will help shops complete repair functions require an OEM tool in-house, without having to purchase a specific OEM tool, send the vehicle out or sublet.

The new technology will be available on asTech and other third-party diagnostic devices beginning May 20, the company said.

“The increasing complexity of vehicles means there is an increasing need for repairs to be completed using functionality exclusive to OEM tools,” Johnson said. “Making those OEM tools easier to access will help more shops across our industry complete all repairs properly.

“That’s why I’m so excited to help Repairify expand its patented remote OEM solutions, which have made it a leader in the collision space, into the mechanical industry as well.”

Johnson began his career in 1979 as an automotive technician in 1979 and still maintains several ASE certifications. He has previously served in multiple roles with SPX and in leadership positions with the Automotive Care Association and Delphi, as well as overseeing ALLDATA’s mechanical repair products and, most recently, managing Mitchell 1’s product portfolio.

Johnson is an active member of the Society of Automotive Engineers International and has served on the Auto Care Association’s Tool & Equipment and Emerging Technologies committees. He is a past president of the Equipment & Tool Institute and has served as chairman of the Auto Care Association’s Technology Standards Committee.

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Through a presentation titled, “Get Paid Faster with Automated Inspections,” Ghata discussed how automated vehicle inspections can enable wholesale disposition and guaranteed buys without the expense of condition report writers, transportation to a physical auction, and high auction fees.

Inspection technologies can be enabled by only having a mobile phone, he said.

“And essentially anybody can take the photos, anywhere, anytime, and produce a detailed and graded condition report,” he said. “That really helps in terms of remarketing and the disposal of vehicles.”

At AIS+NRC, Ghata noted that automated inspections allow companies to send a link to anyone on their fleet management team, including drivers, and receive an accurate condition report instantly.

“So essentially the value is in gathering condition data to make better decisions while reducing the time it takes to dispose of vehicles in the wholesale channel. You don’t have to store the vehicle, you don’t have to incur the expense of the skilled inspector,” he said. “And then you can really spot sell it from wherever your operations are and avoid the transportation expense to the auctions, too.”

A main point of his AIS+NRC presentation was that companies can use automated inspections to advance their remarketing processes “and streamline that process of assessing the condition of your fleet assets, regardless of where they are,” Ghata said.

Ghata cited examples of fleets who utilize automated condition reports as part of their remarketing strategies, such as Charles Rosario, a national fleet sales manager with Go Rentals.

“Having automated inspections and instant condition reports at our rental locations allows us to make better decisions on whether to send units to auction or sell them directly. Selling direct helps lower our overall cost to sell by avoiding transportation expenses and auction fees,” Rosario said.

Fleets can then provide their fleet management company a condition report, and the fleet management company can execute a guaranteed buy on the vehicle, Ghata said.

He added, “So you don’t have to take it to the auction and take your risks there, and for cleaner cars and cleaner work trucks, it’s definitely pretty applicable in that area.”

Ghata also cited Brett Federico, director of remarketing for Advantage Car Rental.

“With automated inspections I don’t have to wait for a third party CR company to get us on the schedule and then come write the car when they are available,” Federico said. “I can now get it posted for sale the same day. We sell directly from our lot, so we are able to now utilize our employees to take the photos.”

Anyone interested in learning more about how automated vehicle inspections can help produce a line-item inspection report anytime, anywhere, can learn more at pave.ai.

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The company announced last week the integration of wholesale and retail data into its solution, ValueVision.

Now, Predian said dealers can make strategic pricing decisions and maximize their profitability “with confidence, knowing they have the most accurate and comprehensive data at their fingertips.”

Predian developed ValueVision as part of its comprehensive AI software platform designed to assist automotive dealers in making informed inventory decisions. It is a solution for dealers to understand the historical retail pricing of a vehicle and forecasted values over the next 90 days.

By integrating the wholesale historical and forecasted values, dealers can now analyze historical data and market conditions utilizing the proprietary AI

“We are thrilled to introduce the enhanced ValueVision, now equipped with the ability to display both the wholesale and retail historical and forecasted values of a vehicle,” Predian CRO Stephen Batten said in a news release.

“This update brings our customers invaluable pricing insights, empowering them to make better-informed decisions and drive quicker inventory turnover, ultimately leading to greater profits,” Batten continued.

Predian Market Insights offers dealers a comprehensive dashboard that presents real-time market data.

With the ability to customize search criteria, filter results by region, and receive personalized pricing analysis reports, the platform is designed to give dealers information they need at their fingertips, all in one place.

For more information, visit www.predian.ai.

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The company highlighted two patents are novel areas of expansion for Privacy4Cars.

The first patent titled, “Artificial Intelligence Based System and Method for Generating Dynamically Variable Multi-Dimensional Privacy Rating for Vehicles” is for covering how to build privacy rating systems in automotive, a space Privacy4Cars entered with its Vehicle Privacy Report.

The company launched this report last May as a free tool for consumers and a merchandising solution for dealerships. It includes a privacy labeling system covering about 600 million vehicles across the U.S., Canada, the U.K. and the EU.

Privacy4Cars said the next patent titled, “Methods and Systems to Reduce Privacy Invasion and Methods and Systems to Thwart Same” is an approach to defeating artificial intelligence and computer vision systems that are increasingly used to invade privacy of consumers.

Originally developed to dramatically decrease the accuracy of automated license plate readers (ALPR) without illegally altering plates, Privacy4Cars explained it has much broader applicability to reduce the reliability of systems that collect biometrics, use facial recognition and other image-based IDs.

Privacy4Cars said the third patent is an expansion of the company’s signature method to delete personal information stored in vehicles and to create records of deletion. This news cements Privacy4Cars’ unchallenged leadership in the automotive privacy tech space.

Hundreds of companies already rely on Privacy4Cars’ AutoCleared data deletion service that now includes six patents.

The news of the expanded patent portfolio comes on the heels of Privacy4Cars’ recent successful financing round.

In December, Privacy4Cars secured a multi-million-dollar debt facility with SaaS Capital, a provider of growth debt to software-as-a-service (SaaS) companies, to provide additional non-dilutive growth capital.

The company said the development also arrived as there has been an increased focus and action on the part of regulators to improve privacy in vehicles across the globe. This includes the first two laws to specifically mandate a process to delete the personal information of consumers stored in vehicles exchanging hands.

“As vehicle technology evolves and new legislation emerges to protect consumers’ privacy, the need to innovate – and advocate – for better privacy tools in the automotive space has never been greater,” Privacy4Cars CEO and founder Andrea Amico said. “The issuance of these three new patents is a testament to our unwavering commitment to driving privacy. Through these new patents, we will be able to offer new privacy tools for consumers and auto businesses, alike.”

Privacy4Cars said its newly awarded patents will fuel the expansion of its product offering. Its patented tool, AutoCleared, has been used in nearly 1.5 million vehicles to efficiently manage, execute, and log the deletion of personal information from cars (phone numbers, call logs, location history, garage door codes, and more).

Its Vehicle Privacy Report tool has been visited more than 250,000 times through “pure word of mouth,” according to Privacy4Cars.

In March, Vehicle Privacy Report smart labels had over 10 million impressions on participating dealership websites.

Both services are free to consumers and offered as a solution for businesses seeking “to grow trust, engagement, and compliance standards through privacy,” Privacy4Cars said.

For more information about Privacy4Cars, visit: https://privacy4cars.com.

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The one announced on Wednesday involved EMG, which generates streaming advertising measurements and optimization solutions for the automotive industry.

The customer experience middleware provider highlighted the goal of its integration with EMG. It’s meant to make it easy for dealership groups with internal agencies to bring these burgeoning channels in-house and to activate complex advertising audiences and journey-based advertising through streaming campaigns on connected television and radio.

With streaming channels becoming increasingly prevalent for audience engagement, Orbee said dealerships must tap into this channel to reach their in-market car shoppers centered around their first-party data.

Orbee’s middleware can empower dealers to orchestrate audiences by interconnecting a wide array of data sources. These sources include first-party data from dealers’ DMS, CRM, and website, as well as third-party enrichment providers.

Orbee explained data enrichment supplements existing databases with valuable information such as vehicle ownership, income, lifestyle, behavioral scores, and other relevant attributes.

Then, Orbee said dealers can effectively conquest new audiences from a variety of sources, expanding their overall reach. These refined audiences across a dealership group can then be leveraged within EMG’s platform for targeting in connected media campaigns.

The results can make streaming TV and radio a viable channel worth automating with new technology, according to Atul Patel, who is co-founder and CEO of Orbee.

“We are excited to integrate with EMG to provide large dealership groups with another way to reach their active car shoppers across all the media channels where they consume content today,” Patel said in a news release.

The companies added that the integration can streamline the campaign planning and execution process, beginning with building a specific audience with attributes that would resonate with the creative for a streaming TV video ad or a digital audio ad.

Once the audience is built within Orbee, it is pushed to EMG’s platform, where users can also decide what placements would be best suited to their audience and campaign.

EMG pointed out that it has access to all major programmatic ad buying platforms as well as relationships with the top streaming service providers in the country.

“We are excited to integrate with EMG to provide large dealership groups with another way to reach their active car shoppers across all the media channels where they consume content today,” said Patel, who also was involved in the early days of streaming video and audio, participating in the IAB committee that created the original VAST and VPAID tags and bringing dynamic video ad serving to connected TV operating systems and apps.

“This integration furthers our goal to make these channels viable by streamlining the activation, creative and measurement process with our middleware,” Patel went on to say.

Brett Hall is vice president of sales and marketing at EMG.

“By pairing Orbee’s advanced segmentation and analytics with EMG’s extensive media buying expertise, large dealership groups can now trace the effectiveness of specific segments and ads and adjust their strategies dynamically for the greatest chance of a qualified buyer walking through their door,” Hall said.

Earlier this month, Orbee integrated with phone system and call analytics provider Car Wars in a partnership designed to enrich shopper profiles with advanced voice data and facilitate a deeper understanding of shoppers’ behavior before, during and after voice conversations.

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The automotive technology platform has landed a $40 million investment from Runway Growth Capital and plans to put the funding toward continue market expansion and product development.

Tim O’Toole, who is CarNow’s chief financial officer, said in a news release: “This investment from Runway Growth Capital is a testament to our team’s hard work and dedication, as well as the innovative solutions we’ve brought to the automotive market.

“With Runway’s support, we’re poised to accelerate our growth, enhance our product offerings, and continue to disrupt the automotive retail industry,” O’Toole said. “Our mission has always been to simplify the car buying process through technology, and this partnership allows us to further that mission on a larger scale.”

CarNow provides digital retail tools, digital messaging services and conversational CTAs. The company intends to “further develop its platform, expand its market reach, and continue providing exceptional value to its dealership customers and their consumers,” with the capital.

Runway managing director and deputy chief investment officer Greg Greifeld said in the release, “We are excited to include CarNow in Runway’s portfolio of innovative companies and support its effort to redefine the automotive buying experience for the digital age.

“This deal reflects our ongoing commitment to partner with the highest quality companies in the venture ecosystem. By providing CarNow with the growth capital needed to fuel its expansion, we are investing in the next evolution of this rapidly changing auto industry.”

Runway managing director of technology Ted Cavan added: ““Our investment in CarNow is a testament to our belief in the company’s ability to modernize the car buying and selling process.

“With additional capital provided by Runway, CarNow is empowered to focus on what they do best — innovating and expanding its remarkable digital platform. The funding offers a significant advantage toward this end, and we’re excited to partner with CarNow and support its next phase of growth.”

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Sandler Partners’ network of independent sales experts tries to help organizations manage the complexity of technology solution design and sourcing.

“The Sandler Partners community is an ideal outlet for the TotalCX product suite,” TotalCX chief sales officer David Malone said in a news release. “We bring a unique telephony solution with the added benefit of the most sophisticated call performance technology on the market today.

“Our investment over the last several years in AI has allowed us to grow beyond the typical tracking solution and offer more sophisticated conversation management tools. Sandler Partners will be able to integrate this functionality along with their existing solutions to benefit their clients,” Malone continued.

By working with more than 200 technology suppliers across all categories, Sandler Partners can assist organizations of all sizes and verticals to solve specific challenges and meet their goals.

“Improving customer experience (CX) is a goal for all automotive dealers,” said Caleb Tucker, senior vice president, channel – West & Deep South, with Sandler Partners.

“Partners can offer their customers this tailor-made product developed with a deep understanding of the features and requirements that can help improve their sales function and impact growth,” Tucker continued. “It tracks 100% of calls, decreases expenses, listens to every call to encourage/train for improved performance, and integrates easily with CRM and DMS platforms. This is a wonderful example of AI integration and empowerment.

“It’s easy to see why a majority of the largest dealer groups are already using TotalCX, and why this is a very compelling product Partners can extend to their auto sales customers,” Tucker went on to say.

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Vehicle inspections are crucial to determining a car’s condition and value, facilitating informed decisions for both buyers and sellers. In an industry that is increasingly buying, selling, and trading vehicles virtually and transporting them long distances, AI is quickly becoming an indispensable tool. AI offers three distinct advantages for vehicle inspections that can significantly increase efficiency and bolster confidence for the industry:

AI-inspections reduce human error

Vehicle inspections are only as good as the eye of the person completing the inspection, and human error has long been a concern in the industry. Traditional inspections are susceptible to oversight, fatigue, and variations in judgment. AI-driven vehicle inspections, on the other hand, are less prone to these human errors. AI systems perform inspections with the same level of precision every time, eliminating inconsistencies.

AI algorithms are designed to detect even the smallest defects and anomalies that might be missed by human inspectors. This heightened accuracy translates to increased confidence in the inspection results, which can be pivotal in making informed buying or selling decisions.

AI inspections reduce inspection time

Thorough inspections are time-consuming, requiring one or more people to walk around and comb through every dent, ding, scratch, or imperfection – noting the location and size. For some vehicles this can take hours, slowing down vehicle turnover and holding up logistics operations. But AI systems can conduct inspections much faster than human inspectors.

Using computer vision and machine learning algorithms, AI systems quickly analyze the vehicle in a matter of minutes, resulting in faster throughput and more efficient operations.

Continuous learning and improvements

One of the most compelling aspects of AI vehicle inspections is their ability to continuously learn and improve over time. AI systems are data-driven, and the more inspections they perform, the better they become at detecting defects and anomalies.

As vehicles become more advanced with new capabilities, technologies and systems, AI vehicle inspections will keep up with those innovations to ensure accurate reporting of a vehicle’s condition and thus value. Furthermore, AI systems solve for attrition, labor shortages and other labor-related issues that businesses often face.

AI vehicle inspections address many longstanding issues within the automotive transportation logistics industry. As technology continues to advance, AI vehicle inspections and other AI-driven tools will become an integral part of the automotive industry. This technology has the power to streamline operations and increase overall efficiency for businesses, dealerships, and individual buyers alike.

Vlad Kadurin is product and operations lead at Ship.Cars.

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But as in-vehicle entertainment systems have become more prevalent, they also have become an essential part of the driving experience.

That is evidenced by a recent survey of 1,015 vehicle owners conducted by Censuswide and commissioned by DTS, a wholly-owned subsidiary of entertainment technology company Xperi Inc., which found 65% of respondents — and nearly 80% of those aged 44 and under— said in-vehicle entertainment is important to them.

“As the role of the personal vehicle continues to evolve into much more than just a way to get from point A to point B, what consumers want from the interior of that vehicle, particularly when it comes to its role as an important third space versus the home and office, is becoming more complex,” the study said.

“While in many ways, consumers want the transition from their home to vehicle to be seamless — a place that knows them as well as their favorite chair and instantly adapts not only to their comfort and wellness needs but also to their entertainment preferences from video to music — they also want it to be another space entirely, distinct from home, work, library, coffee shop and their mobile device. And this is particularly true of younger consumers.”

The survey found consumers said they want more from their vehicle’s infotainment system than just a mirror of their cellphone, naming out-of-broadcast-range radio (82%), “discoverable” content such as local radio, streaming, podcasts and audio books (81%), personalized content (75%) and enhanced content (66%) as features they desire.

Another popular feature with younger car owners is in-cabin video, with more than two-thirds of respondents younger than 45 expressing interest, including having availability of live TV and on-demand streaming available on their vehicle dashboard or screen.

That same percentage of the under-45 demographic said having high-quality video capability would make them more likely to purchase a vehicle.

Even with video available, 60% of all consumers surveyed said AM radio is still an essential part of their preferred entertainment system.

The full report is available here.

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The platform, called TestTrack, will be released later this year as part of CallRevu’s training suite.

The platform, which the company said is “the next phase of AI-training innovation,” combines AI technology with training and customer experience methodologies.

CallRevu said that provides agents with “a personalized, real-time, two-way interactive training experience that focuses on real-world application through training and role-play scenarios that empower agents to improve their abilities, boost performance, and gain confidence through competence.”

For dealerships, the platform is designed to reduce the time and cost associated with training and developing agents, and improve the customer experience.

“At CallRevu, our mission goes beyond the boundaries of technological innovation,” CEO Ben Chodor said in a news release. “We are dedicated to elevating every individual at the heart of an organization to achieve unprecedented results, enhance operational efficiency and drive desired outcomes.”

The company said the training and coaching platform sets “a new standard for what is possible in dealership training and development,” and dealerships using it can expect “tangible improvements in their operations with direct, achievable outcomes,” including increased sales, closing more appointments and more effective upselling.

“TestTrack is more than just a tool,” Chodor said. “It embodies a radical shift toward empowering dealership talent, enabling teams to independently refine their skills and grow. It doesn’t matter whether your dealership is a seasoned veteran of 50 years or a newcomer to the industry – this platform is meticulously crafted to meet your specific needs and support your unique path to growth.”

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Among the strategic investors in the latest funding round are familiar automotive names General Motors Ventures and Bridgestone Americas, and international investors Universal Motors Agencies and Shikra Limited.

Yoshi Mobility, launched out of Y Combinator in 2016, is also backed by ExxonMobil, DN Automotive, NBA All-Star Kevin Durant and Hall of Fame NFL quarterback Joe Montana. The company said it has raised more than $60 million to date.

Yoshi Mobility said the Series C funding enables it to expand three new business lines: preventative maintenance, virtual vehicle inspections and electric vehicle charging.

Last month, the company completed its first acquisition, adding Mobile Auto Concepts Inc., a mobile automotive services company that specializes in preventative maintenance, tire care and replacement, multipoint inspections and eco-friendly washes.

CEO and co-founder Bryan Frist said Yoshi Mobility’s partnerships with Uber and Turo have boosted its virtual inspection operations, offering a “clear product-market fit, synergies with our other product offerings and great customer reviews.”

“Our virtual inspection business is on an exciting growth trajectory and has enormous potential,” he said. “This service accelerates the onboarding process for gig economy drivers and small business owners while also reducing their carbon footprint by removing their need to drive to a service center for a simple inspection.”

Yoshi Mobility is also commercializing its mobile EV charging platform to address current and future challenges related to charging EV fleets. The company said the service “uniquely positions” it to cater to the evolving needs of EV owners and enterprise customers, offering on-the-go charging, maintenance and support as well as providing efficient service and labor savings for fleet operators.

“The past few years, we’ve expanded our services well beyond just gas delivery to offer car owners more comprehensive car care,” Frist said. “No matter how the vehicles are powered — by gas, batteries or even hydrogen — we’re well positioned to help usher in the future of mobility.”

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The dealership software provider has introduced Custom Forms, a free feature for users of Rapid Recon’s T2L used-car reconditioning workflow software designed to help dealers personalize, customize and digitize the forms used in fixed and variable operations.

Custom Forms is designed to convert a dealership’s existing forms to digital formats, which Rapid Recon said are more secure and eliminates paper document handling, physical storage and retrieval personnel.

The tool, which can be accessed on desktop or mobile, can automatically generate work items can be based on the failed inspection items as the technician conducts the vehicle inspection or other activity.

In addition, notes on reconditioning work items and any media related to inspection and similar activities can be captured through Custom Forms.

Forms follow the vehicle’s VIN, so all documentation related to the vehicle is searchable and quickly retrievable, the company said. The tool can capture signatures from technicians and managers and provide notifications on forms pending signature.

Customer Forms’ features include:

— The ability for customers to create and edit their own forms
— The ability to auto-populate vehicle information such as VIN and odometer reading into custom fields to eliminate double entry.
— The ability to bulk update inspection responses to keep techs efficient by not making them answer questions line by line.
— Failed questions can be configured to autogenerate work items to end double entry.

Custom Forms is available through the Recon Inspect integration in Rapid Recon, Driven by Vehlo.

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Orbee’s Customer Data Platform now includes call data from Car Wars, including call source, duration, outcome and more, which the companies said creates more granularity in shopper profiles.

Car Wars will also use Orbee’s data to offer custom reports and insights into the customer journey directly within its platform.

The companies said the synergy provides a comprehensive view of the customer journey, bridging the gap between online interactions and phone conversations to deliver an omnichannel experience.

Orbee CEO and co-founder Atul Patel said the integration “enables mutual customers with more holistic and actionable customer journeys. Voice continues to be an undeniably important channel in customer interactions in automotive, and having this data tied together with all other touchpoints is going to change the game for marketing automation.”

The companies said the collaboration makes personalized customer interactions more attainable than ever, with access to insights into customers’ online and phone activity creating relevant and timely conversations. And the capability to automate engagement allows dealerships to maintain timely and relevant communication with potential buyers.

“The integration with Orbee empowers automotive businesses to delve deeper into customer interactions, leveraging our comprehensive call data for enhanced segmentation, personalized experiences and targeted marketing strategies,” Car Wars CEO Stephane Ferri said. “We look forward to seeing how this collaboration transforms the way dealerships engage with customers and how our data provides them with more in-depth insights.”

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This trend, not a mere blip on the radar, poses significant implications for consumers, lenders, and dealerships alike. This analysis delves into the mechanics of underwater trades, evaluates their impact on the used car market, and projects how this trend could reshape industry practices moving forward.

The mechanics of underwater trades

Underwater trades occur in a confluence of depreciating asset values and extended loan terms. Vehicles, unlike most investments, begin to depreciate the moment they are driven off the lot. Simultaneously, consumers, enticed by lower monthly payments, increasingly opt for longer loan terms, some extending beyond 72 months. This combination can lead to scenarios where the loan balance remains high as the vehicle’s value declines, trapping consumers in negative-equity positions.

The magnitude of the phenomenon

Recent years have witnessed a marked increase in underwater trades, fueled by rising vehicle prices, longer financing terms, and fluctuating market conditions. The percentage of consumers with negative equity has steadily climbed, affecting a significant portion of automotive transactions. This uptrend is not just a statistical anomaly but a reflection of broader economic undercurrents and changing consumer behaviors.

Impact on used car market pricing pressures

The proliferation of underwater trades exerts upward pressure on used car prices. Sellers, whether private individuals or dealerships, need to recoup a minimum amount to cover the outstanding loan balance, pushing listing prices above market value. This dynamic contributes to inflation within the used-car market, distorting price benchmarks and complicating valuation efforts.

Inventory challenges

Dealerships accepting trades with negative equity face a balancing act. Absorbing a loss on such trades can tighten margins, especially in a market characterized by high acquisition costs.

Conversely, passing these costs onto consumers can dampen sales volumes, as elevated prices deter potential buyers. This dilemma impacts inventory management strategies, influencing which vehicles are acquired and how they are priced.

Financing complexities

Financing trades with negative equity introduces additional complexities for lenders and borrowers. Lenders must navigate higher risk levels, as loan-to-value ratios skew unfavorably.

This situation may lead to more stringent credit requirements or higher interest rates, affecting affordability for consumers. Borrowers, on their end, might find themselves saddled with larger loan amounts and extended repayment terms, perpetuating the cycle of negative equity.

Consumer behavior and sentiment

The knowledge that one is in a negative equity position can significantly impact consumer behavior. Some may postpone vehicle upgrades or maintenance, diminishing overall market and affecting ancillary sectors like auto repair and parts. Additionally, the psychological toll of being “underwater” can influence consumer sentiment towards automotive brands and financing institutions, potentially eroding loyalty and trust.

Looking ahead: Strategic considerations for stakeholders

As the automotive industry grapples with the challenges posed by underwater trades, several strategic considerations emerge for stakeholders. Addressing these issues requires a multifaceted approach, blending financial acumen with consumer insights.

For dealerships:
– Innovative trade-in solutions: Developing programs that offer more favorable trade-in values or that creatively address negative equity can differentiate dealerships.

– Transparency and education: Enhancing transparency around pricing and financing, coupled with educating consumers about the implications of extended loan terms, can build trust and aid in decision-making.

For lenders:
– Risk management: Adapting risk assessment models to account for the increased prevalence of negative equity and exploring insurance products to mitigate this risk could be pivotal.

– Flexible financing options: Offering more flexible loan products that provide pathways out of negative equity for consumers can foster loyalty and encourage repeat business.

For consumers:
– Informed decision-making: Emphasizing the total cost of ownership and the potential for negative equity can encourage more sustainable financing choices.

– Long-term planning: Considering vehicles that hold their value better and opting for shorter loan terms can help avoid underwater situations.

Strategic responses and industry adaptation

As the automotive industry confronts the ripple effects of underwater trades, the need for comprehensive strategies that address the core issues becomes evident. This section explores potential responses and industry adaptations designed to mitigate the impact of negative equity on the used car market and its participants.

For regulatory bodies:
– Enhanced consumer protections: Implementing regulations that ensure full disclosure of loan terms and the potential for negative equity could protect consumers from unforeseen financial burdens.

– Incentives for responsible lending: Encouraging lenders to offer more favorable terms for loans with high risks of negative equity through tax incentives or other regulatory benefits.

Market innovations
– Lease alternatives: Promoting lease programs with built-in equity protection features could offer consumers a viable alternative to purchasing, reducing the likelihood of negative equity.

– Guaranteed buyback programs: Some manufacturers and dealerships could explore guaranteed buyback values for vehicles, providing a safety net for consumers and stabilizing resale values.

Technological integration

Leveraging technology can play a pivotal role in addressing the challenges posed by underwater trades. Digital tools and platforms that enhance transparency, provide real-time valuation data, and facilitate smarter financing decisions can empower all stakeholders in the used car ecosystem.

– Valuation tools: Advanced analytics and machine learning algorithms could improve vehicle valuation accuracy, helping consumers and dealerships make informed decisions regarding trades and purchases.

– FinTech solutions: Innovative financing platforms that dynamically adjust loan terms based on real-time market conditions and individual borrower profiles could mitigate the risks associated with negative equity.

– AI technology: Through sophisticated algorithms and machine learning, AI can analyze vast amounts of data, including vehicle images, real-time market trends, historical transaction prices, and condition reports, to provide more precise vehicle valuations. This level of accuracy is instrumental in ensuring that both buyers and sellers have a clear and realistic understanding of a vehicle’s worth, thereby reducing the risk of negative equity from the outset.

Impact on consumer confidence and market health

The widespread occurrence of underwater trades not only affects individual consumers but also has broader implications for consumer confidence and the overall health of the automotive market.

Rebuilding trust through transparent practices, coupled with efforts to educate consumers about the nuances of automotive financing, can enhance market stability.

– Building consumer confidence: Transparent, consumer-friendly practices that help individuals navigate the complexities of automotive financing can rebuild and strengthen consumer confidence.

– Promoting market health: By addressing the root causes of negative equity and adapting business models to mitigate its impact, the industry can foster a healthier, more resilient market.

Future outlook

Looking ahead, the landscape of the used car market will continue to evolve, shaped by economic trends, technological advancements, and shifts in consumer behavior. The industry’s response to the challenges of underwater trades will not only influence market dynamics in the short term but also set the stage for future developments.

– Evolving consumer preferences: As consumers become more aware of the financial implications of their automotive decisions, we may see a shift towards more conservative financing options and a preference for vehicles with lower depreciation rates.

– Technological disruption: Continued innovation in automotive technology and financing mechanisms will likely introduce new solutions to mitigate negative equity and enhance the buying and selling experience.

Concluding thoughts

The issue of underwater trades in the used-car market is a complex challenge that reflects broader economic, technological, and social trends. While no single strategy can eliminate the  problem, a combination of industry adaptation, regulatory oversight, technological innovation, and informed consumer behavior can mitigate its impact. As the automotive industry navigates these turbulent waters, the ability to adapt and innovate will be crucial in shaping a resilient, dynamic, and consumer-friendly market.

By addressing the challenges head-on, stakeholders can turn the tide on underwater trades, paving the way for a more stable and prosperous future for the used-car market.

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Signal specializes in the Canada-to-U.S. used-vehicle market, so the conversation delves into important reminders for dealers importing cars, market factors impacting the importing and exporting of vehicles, the process of moving vehicles between countries and much more.

Listen to the episode in the window below and stay tuned for more from NADA Show 2024.

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AutoWeb Inc., a service for connecting automotive buyers and sellers, announced the “relaunch” of UsedCars.com, a site dedicated to helping consumers and dealerships navigate the used-car market.

In a news release, the company said the update continues its legacy automotive audience acquisition and lead generation, and a step toward its goal to become “the one-stop portal for everything used car-related.”

“We have long been in the business of helping car makers and dealerships connect with consumers shopping for new cars, and we are thrilled to expand that capability to the used car market,” AutoWeb president and chief operating officer Dan Ingle said.

“UsedCars.com will not only offer solutions directly to those visiting the website but will also provide used car options for millions of consumers who use AutoWeb services for finding a new car every year.”

AutoWeb said UsedCars.com will help franchised and independent dealerships “maximize their presence and exposure to in-market consumer demand.”

Vehicles listed on UsedCars.com will be exposed to AutoWeb’s entire network, including Autobytel and Car.com, which the company said reaches a monthly audience of millions of car and truck shoppers.

The new UsedCars.com works on a subscription model for listings. Dealerships will have access to a private dashboard that details inventory exposure and other metrics in real time.

The platform is designed to provide dealerships with a centralized hub where they can access metrics that show consumer engagement with their inventory on UsedCars.com, along with the number of in-market consumers connected to the dealership for specific used cars in their inventory.

In addition, the site now includes a private seller feature that AutoWeb said allows consumers to list their vehicles and maximize the value of those vehicles.

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The provider of software and financial technology for the auto repair industry has named Josh Weis as its new CEO. He succeeds Michelle Fischer, who is transitioning to a role as chairwoman of the company’s board of directors after four years as chief executive.

Weis comes on board from commercial cleaning services franchisor Office Pride, where as CEO he led the company’s record-breaking growth over the past two years, Vehlo said in a news release. He previously served as executive vice president of Protect My Ministry, which later became part of Ministry Brands, working on revenue growth, M&A activity and multibillion-dollar recapitalizations.

“It’s great to be back in the software space with a healthy, scaling business like Vehlo, which has remarkable people and culture, leading products and solutions, and a passion for serving its clients better than anyone else in the market,” Weis said.

“I’m especially eager to collaborate with the Vehlo team and customers to continue the momentum into the company’s next chapter.”

In Fischer’s tenure as CEO, she grew the Vehlo platform from 6,000 rooftops, five products and 100 employees to more than 30,000 rooftops, 15 products and 500 employees, with triple-digit net customer retention, the company said. She led Vehlo through recapitalizations led by PSG and current control investor Greater Sum Ventures.

“I’m grateful to Michelle for her outstanding and people-first leadership approach that helped Vehlo create industry-leading solutions for auto repair shops and dealer service lanes nationwide,” GSV CEO and founder Ross Croley said. “Her continued guidance combined with Josh’s keen operational and growth expertise will be a powerful force in shaping Vehlo’s future success.”

The company also promoted longtime chief operating officer Brian Wagner to president and COO, and added three new executives to the leadership team:  Bill Roselli as chief financial officer, Rob Hurst as chief revenue officer and Robert Patrick in the newly created role of chief product and technology officer.

Vehlo said Roselli, Hurst and Patrick have decades of experience guiding software-as-a-service platforms to profitable growth and have held leadership roles in various private-equity sponsored businesses.

“I couldn’t be more confident in this stellar team of executives and their vision for the future, as Vehlo makes strides in its mission to be the preferred partner to an industry rapidly adopting digital tools and modernization,” Fischer said. “I am looking forward to supporting this team, the rest of our veeps and our loyal customers through my continued work on the board of directors.”

The post Auto repair software firm Vehlo makes big changes at the top appeared first on Auto Remarketing.

Listen to the conversation in the window below and stay tuned for more from NADA Show 2024.

The post PODCAST: DAS co-founder & CEO Alexi Venneri from NADA Show appeared first on Auto Remarketing.

So, on Wednesday the company launched a solution that will measure the EV battery health for each specific VIN across Manheim.

In addition, Cox Automotive said it is expanding LotVision’s capabilities of reporting battery health for each unique vehicle.

The company highlighted Cox Automotive’s VIN-specific solution, developed by its EV Battery Solutions team, uses Manheim’s LotVision technology to assess the battery in each unique vehicle. The tool can transmit in-depth battery health information to condition reports (CRs) and vehicle detail pages (VDPs) on Manheim.com.

To measure battery health on each vehicle, Manheim is leveraging its LotVision devices, which are already in use across all 76 locations in the U.S.

First used for geolocating vehicles on its lots, LotVision devices are installed in all vehicles with an OBD II port at check-in.

Now, with a simple firmware update, these devices can be used to capture EV battery health information in minutes, and they can transmit that information automatically to Manheim CRs and VDPs, where battery health information will be prominently displayed when the listing goes live on Manheim.com.

Information to be displayed will include a battery health score (0-100%) that represents the remaining battery capacity captured directly from the vehicle, alongside detailed vehicle-specific information that aims to empower buyers in making informed decisions like warranty information, battery chemistry, charging cable presence and more.

As a bonus, since the LotVision devices remain installed while a vehicle is on a Manheim lot, they will also report on each vehicle’s current state of charge.

Created in partnership with Cox2M — the commercial IoT business line within Cox Communications — LotVision is a wireless tracking device placed in a vehicle that can help dealers, transporters and team members accurately locate vehicles on Manheim lots to within 10 feet.

“EV battery health scores that are based on make/model averages are just that…average,” Cox Automotive president Steve Rowley said in a news release. “That’s why we continue to invest in innovations that help our clients make important decisions affecting their businesses.”

Cox Automotive is anticipating that VIN-specific battery state of health will be the new standard in the industry.

Manheim has been preparing for the influx of EVs into the wholesale marketplace.

Since 2019, Manheim has invested more than $200 million in EV infrastructure and process improvements. Manheim now offers sellers more than 800 EV chargers, storage and access to more than 850 trained technicians who can safely handle, service and dispose of EV batteries.

Last year, approximately 48,000 EVs were sold in the Manheim Marketplace, a 58% increase year-over-year. The company expects that number to double this year and continue increasing in the coming years.

In April, clients will begin seeing the expanded battery health information on Manheim CRs and VDPs across most makes and models.

“At Manheim, we have more experience than anyone in driving confidence in the wholesale marketplace—and one thing we know for sure is that nobody likes surprises,” said Grace Huang, president of Cox Automotive Inventory Solutions.

“With this innovative new use of LotVision, we’re giving clients exactly what they need: the most detailed information possible on each individual EV so they can make informed buying and selling decisions,” Huang continued.

“Ultimately, transparency drives confidence in the wholesale marketplace, and that’s why we have been — and will continue to be — committed to giving our clients VIN-specific battery health information,” she went on to say.

The post Cox Automotive launches tool to check batteries of EVs running at Manheim appeared first on Auto Remarketing.

And with a new initiative introduced at the J.D. Power Auto Forum in New York on Tuesday, CDK thinks it’s accomplished just that with the Automotive Commerce Collab.

CDK explained it’s using open and universal technology and application programming interfaces (APIs) to connect OEM and dealer software better.

The company said the initiative unifies and translates consumer information, payment calculations, real-time vehicle inventory status and sales documentation from an OEM website through to a dealership’s workflow — regardless of the software dealers use to operate their businesses.

Creating a cohesive consumer journey remains top of mind for dealers, as 84% recognize the increased need to focus on the customer experience, according to a recent study by CDK.

At least one automaker is upbeat about what this collaboration can accomplish. Angela Zepeda is chief marketing officer at Hyundai Motor America.

“As the world’s third largest automaker, Hyundai is relentlessly focused on building deeper connections and creating cohesive experiences with the people who buy and own our vehicles,” Zepeda said in a news release from CDK.

“Through our partnership with CDK and by leveraging their open and universal technology — as well as their deep knowledge of how dealers operate — we can provide Hyundai buyers and owners the experience they demand and deserve,” she continued.

As an open and universal initiative, CDK reiterated the Automotive Commerce Collab is compatible with any combination of OEM and dealer software platforms. But the company pointed out it can deliver additional and deeper levels of brand integration when paired at the dealer level with the CDK Dealership Xperience.

“The journey from an OEM website to a dealer’s showroom has always been clunky — with competing systems creating duplicate records of a consumer that forced data reentry, confusion over vehicle inventory status, and mismatched payment calculations. This broken experience ultimately impacts the reputation of both OEMs and dealerships, eroding trust and transparency,” CDK president and chief executive officer Brian MacDonald said in the news release.

“Unlike new entrants to the industry who are still learning how to connect OEMs, dealers and consumers, CDK is well established at the heart of the automotive ecosystem and has decades of experience helping all parties achieve higher levels of satisfaction through hundreds of thousands of integrations,” MacDonald continued. “We continue to focus on disrupting our industry from the inside by using our expertise and creating deeper integrations that create a less painful and more collaborative future.

“The Automotive Commerce Collab is a game changer for everyone,” he went on to say.

For more information on the Automotive Commerce Collab initiative, visit https://www2.cdkglobal.com/commerce-collab.

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Addison previously served as AutoNation’s director of product management, leading the auto retail giant’s strategic systems. CarSaver said with that experience, along with his “deep passion for product strategy,” Verklas is “poised to drive CarSaver’s continued success in the automotive industry’s digital transformation.”

Verklas said the chance to be part of a leader in that digital shift is what drew him to his new company.

“CarSaver’s innovative e-commerce approach not only streamlines the car-buying process for consumers, it also sets a new standard for the industry,” he said in a news release. “My enthusiasm for joining the team stems from a shared vision to enhance customer experiences, streamline dealer processes and elevate the industry through our unique solutions.

“I look forward to working alongside CarSaver to spearhead advancements in automotive retail, pushing the boundaries of what’s possible.”

CarSaver CEO Chad Collier said Verklas’ “proven track record in streamlining dealer processes through technology, along with his strategic approach to product development and innovation in automotive retail, will undoubtedly strengthen our leadership in the automotive marketplace.”

The post CarSaver adds ex-AutoNation executive to help accelerate industry’s digital shift appeared first on Auto Remarketing.

The guests? Kayne Grau, the co-founder and then-CEO of DRIVIN, and his colleagues John Manganaro and Justin Mahlik.

A few trips around the sun and industry evolutions later, Grau is the relatively new CEO of CarNow and the latest guest on our series of shows from NADA Show 2024, where he and Overby reconnect to talk about the new role and more.

The post PODCAST: CarNow CEO Kayne Grau appeared first on Auto Remarketing.

Director of industry relations Shawn Leibold was selected in a special election to fill a vacant seat on the board of directors of automotive information technology standards organization Standards for Technology in Automotive Retail.

Leibold had previously been a STAR board member, and has collaborated with STAR members — OEM executives, dealer principals, representatives from the National Automobile Dealers Association and technology providers — as a part of the organization’s technology committee.

“I’m honored to be asked to take on this role and look forward to helping move the organization forward as it continues to impress on the industry the need for a common set of standards,” he said in a news release. “We must continue to develop those standards so stakeholders can leverage efficiency, speed and agility to provide better customer experience outcomes.”

In 2023, the STAR board was restructured and reduced to nine members, split equally between OEMs, technology providers and dealers.

Board members are elected to three-year terms. Officers serve one-year terms and can be re-elected. Leibold will serve the one year remaining in the term for his seat.

“As a former board member of STAR, Shawn steps into this role seamlessly and provides a wealth of DMS insights, which are vital to the future development of STAR standards,” said STAR standards chairman JP Garvey, dealer principal of Garvey Auto Group. “It’s great to see that the members recognize the importance of this critical insight as STAR moves into 2024 and beyond.”

The post Reynolds and Reynolds executive elected to board of IT standards organization appeared first on Auto Remarketing.

One Step Secure IT, an outsourced IT company specializing in cybersecurity and protecting customer data from breaches, is the latest company to join The Shop, the e-commerce platform launched in January by FordDirect – a joint venture between Ford and Lincoln dealers and Ford Motor Company – to offer those dealers access to vetted vendors with pre-negotiated prices for products and services.

“One Step Secure IT will now help Ford dealers and Lincoln retailers spend more time doing what they do best while also supporting FordDirect’s mission as a trusted partner and resource to find the best vendors in the market for all of their needs,” FordDirect CEO Dean Stoneley said in a news release.

One Step Secure IT offers third-party risk assessments, outsourced IT and cyber services, outsourced vCISO services, cybersecurity services and consulting in IT and compliance.

The company said its technology is designed to empower organizations to mitigate the risks associated with cyber threats to minimize downtime and uphold customer trust.

“Our partnership with FordDirect’s The Shop reinforces One Step Secure IT’s dedication to enhancing cybersecurity and improving IT efficiency in the automotive industry,” founder and CEO Scott Kreisberg said. “Drawing on more than 30 years of expertise in empowering retailers to protect and grow their business through secure technological solutions, we’re shaping a future in which innovation and security work together.”

The post One Step Secure IT brings cybersecurity services to FordDirect’s The Shop appeared first on Auto Remarketing.

Vehlo said Shop-Ware’s methodology in addressing industry requirements through automation and cloud-based solutions “stands out” in the market, citing the DVX customer communication interface that supports digital media, live chat, online approvals and payments. The company also praised Shop-Ware’s Parts GP Optimizer, which uses machine learning techniques to steer individual parts toward shops’ targeted gross profit goals.

“We’ve been impressed with Shop-Ware’s innovative solutions and commitment to providing premier tools for the aftermarket community, including multi-shop operations,” Vehlo CEO Michelle Fischer said. “Shop-Ware is a great addition to Vehlo’s suite of shop management solutions and aligns with our mission to be the automotive repair industry’s favorite technology partner, delivering a compelling return on investment with features loved by shop customers, shop owners and technicians.

“We look forward to partnering with the Shop-Ware team to support their great customer base and continue innovation and feature enhancement our customers need to grow their businesses.”

Vehlo said Shop-Ware CEO Carolyn Coquillette, who founded Shop-Ware in her San Francisco repair shop in 2013, will continue to lead the company as part of Vehlo’s aftermarket leadership team.

“From brand equity to technical leadership, I am very proud of Shop-Ware and everything we’ve accomplished to reach this incredible milestone,” she said. “This alliance allows us to harness the sought-after partner synergies underlying this industry to foster the long overdue digital transformation.

“Via this acquisition, Vehlo will scale its influence and market share, and we are thrilled to work together across the portfolio of outstanding companies and people to accelerate our cumulative growth even further.”

The post Vehlo acquires auto shop management platform Shop-Ware appeared first on Auto Remarketing.

In this episode of the Auto Remarketing Podcast, Mayfield and Neiser share the inspiration behind the company, how the software works, the nuances of translation and the importance of reaching the audience of Spanish-speaking car shoppers.

Listen to the conversation in the window below and stay tuned for more from NADA Show 2024.

The post PODCAST: Chance Mayfield & Justin Neiser of Carfluent appeared first on Auto Remarketing.

The Electronic Secure Title and Registration Transformation Coalition (or, eSTART Coalition) aims to work with governments to “advocate for modern solutions to replace the paper-based processes that currently dominate state and local DMV operations,” the group said in a news release Wednesday.

More specifically, eSTART Coalition will focus on:

—Efforts to allow electronic signatures on all title and registration documents

—Adopting tools enabling electronic submission and processing of titles and registrations

—Enabling vehicle records to be transferred electronically

“We have always been committed to making car buying and selling easier for customers and we are thrilled to partner with like-minded industry leaders to bring convenience and efficiency to a key step of any vehicle transaction: title and registration,” Carvana executive vice president of strategy Christina Keiser said in a news release.

“Replacing legacy paper-based processes with readily available, secure technology solutions will save consumers precious time while also being more efficient for state agencies, dealers, and all industry participants,” Keiser said.

The eSTART Coaltions’ founding members include

—ACERTUS
—Cario, Inc.
—Carvana
—Champ Titles, Inc.
—Decision Dynamics, LLC
—Dealer Services Network
—DLRdmv
—DocuSign
—Insurance Auto Auctions, Inc.
—MOBI
—NADA
—Private Auto
—Proof (formerly Notarize)
—SimpliGov
—Unite Digital
—Upstart
—VITU
—YASSI

“Improving the customer experience is a central concern for franchised new car dealers,” NADA executive vice president Paul Metrey said in the release.

“Secure electronic titling and registration ensures that customers enjoy peace of mind while spending less time on paperwork and more time enjoying their new vehicle.”

More information is available at eSTART (estartcoalition.org).

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Knight replaces Len Short, who will focus exclusively on overseeing product development strategies for the VIN-specific inventory management platform.

In a news release, Lotlinx said Knight’s promotion is part of a longstanding succession plan that began with the formation in 2021 of a six-member senior leadership team to provide day-to-day management and oversight of the business.

The company said Knight’s focus on advanced data, artificial intelligence and machine learning will serve as “the backbone of driving Lotlinx’s success in the industry.”

“In an era in which technology, data and analytical advancements are reshaping the dealership landscape, my goal is to continue to steer Lotlinx as the dealer’s trusted partner,” Knight said. “Our dedicated staff will continue to be instrumental in harnessing the power of data, unlocking the potential of AI and leveraging machine learning and Lotlinx SENTINEL to propel our customers to new heights.

“That strategic direction is not only in line with our mission but also reinforces our commitment to help dealers adapt to market dynamics and mitigate inventory risk through VIN-specific strategies.”

Knight has 25 years of management experience in automotive, digital, CPG and manufacturing. He joined Short and chief technology officer Robert Vucic in launching Lotlinx in 2012 and is vice chairman of the company’s board of directors.

“With a proven background in the automotive industry and a deep understanding of Lotlinx’s unique offering to the industry, Jason brings a wealth of experience and a proven track record of leadership,” Short said. “As we strive to remain at the forefront of innovation, Jason’s vision perfectly aligns with our commitment to driving the company forward in today’s data-driven industry.”

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The company said Lee, who will report to CEO Eduardo Iniguez, will be responsible for accelerating Getaround’s growth and path to profitability, as well as overseeing operations, marketing, sales and other functions.

Lee said in a news release he’ll be focused on “establishing strong financial discipline and driving operational efficiencies, allowing us to invest in our future growth. … I’m confident that together we can move fast, execute effectively and deliver value for our car owners, renters and investors.”

Lee joined Getaround through its acquisition of HyreCar’s assets in May 2023 and took ownership of Getaround’s Drive With Uber program as well as the HyreCar business.

He previously served as senior vice president of growth for artificial intelligence-powered logistics platform Airspace, building and optimizing revenue functions in the U.S. and Europe, as well as senior roles in strategy, operations and marketing for NEXT Trucking, Amazon and other technology companies.

“During our previous collaboration, AJ drove growth and margin improvements quickly with a unique ability to build lean, high-performing teams, balance strategic growth initiatives with cost-efficiency measures, and develop impactful features and products for customers,” Iniguez said. “I am confident his hands-on approach to business transformation will accelerate the company’s path to sustainable profitability.”

The post Getaround’s new COO has mission to navigate ‘path to sustainable profitability’ appeared first on Auto Remarketing.

Privacy4Cars pointed out to Auto Remarketing this week that Gov. Phil Murphy on Jan. 16 signed into law the Motor Vehicle Data Deletion Act. It’s associated with how a vehicle’s infotainment system can capture personal information from a smartphone when connected via Bluetooth.

According to Privacy4Cars, the law that went into immediate effect requires:

Whenever a motor vehicle dealer takes possession of a motor vehicle from a consumer for the purpose of resale or lease, the motor vehicle dealer shall offer to delete the consumer’s personal information from the motor vehicle’s computer system in the motor vehicle, including, but not limited to, navigation history, paired phones, and garage door codes, by performing data clearing protocols in accordance with the Guidelines for Media Sanitization developed by the National Institute of Standards and Technology using techniques specified by the vehicle manufacturer to overwrite data or by using a menu option to reset the device to original factory settings

Privacy4Cars said dealers now incur a civil penalty of $500 for the first offense and $1,000 for subsequent offenses.

Privacy4Cars also explained the law provides dealers the opportunity to “charge a reasonable fee for services performed in connection with the requirements of this section. The dealer shall disclose the fee to the consumer prior to performing the service and shall advise the consumer that the consumer may attempt to delete the personal information themselves or through another vendor.”

And Privacy4Cars is happy to be that vendor for dealers in the Garden State and other nearby locations.

The company offers the multi-patented AutoCleared solution, which can manage, execute and certify the deletion of consumer personal information stored in vehicles.

“We urge you to immediately contact your new jersey locations to ensure they have the proper processes, safeguards, and compliance monitoring systems necessary comply with this law. If you do business with New jersey residents in neighboring states, it may be advisable to extend the same practices to those stores, as well,” Privacy4Cars said.

For more details, go to https://privacy4cars.com or send a message to info@privacy4cars.com.

The post New NJ law requires dealers to scrub personal info from vehicle’s tech system appeared first on Auto Remarketing.

The mobile vehicle maintenance and detailing provider said Thursday it has acquired NuVinAir, which provides solutions designed to create clean and healthy vehicle interiors, including odor elimination.

The move expands Spiffy into new service categories and brings additional cleaning solutions into the Spiffy portfolio.

Terms of the transaction, which has already closed, were undisclosed.

“We are thrilled to welcome NuVinAir to Spiffy,” CEO Scot Wingo said in a news release. “This acquisition represents a pivotal step in our mission to redefine the automotive service experience everywhere.

“Together, we will continue to innovate and expand our products and services, providing customers with the highest quality and most comprehensive vehicle cleanliness and health solutions in the market,” Wingo said.

Asked about the new service categories that the acquisition will allow Spiffy to enter, Tim Downey — who is vice president and general manager of Spiffy Devices — said in emailed comments: “As the leader in odor elimination, NuVinAir deepens Spiffy’s relationships and work within all of the major vehicle rental companies, as well as a significantly large number of dealerships across the country.

“Additionally, the diverse family of NuVinAir products strengthens the Spiffy product portfolio by providing entry points to new innovative cleaning solutions such as Renusurface and Reklenz-X,” Downey said.

The company plans for Spiffy and NuVinAir to remain independent brands, with NuVinAir focusing on odor elimination and vehicle cleanliness, Downey said.

“As we continue to learn from each other, we will blend our strengths to make an optimized ‘go-forward’ business unit,” he added.

Certain members of the NuVinAir team are now part of Spiffy, including executive vice president and chief operating officer Troy Blackwell.

“Just like Spiffy, we built our business with a customer-first mindset. Recognizing our customers’ need for efficiency and excellence, we deliver straightforward, top-tier solutions that enhance vehicle cleanliness and improve net promoter scores,” Blackwell said in a news release. “Combining our expertise and resources for superior customer support and problem-solving will result in rapid service turnarounds, bolstering essential metrics for our national accounts.”

NuVinAir founder and CEO Kyle Bailey added: “Joining forces with Spiffy is a natural progression for NuVinAir. Our shared vision for innovation and excellence makes this partnership a powerful combination. We are excited to contribute to Spiffy’s growth and to bring our unique products and technologies to even more customers.”

The post Spiffy sniffs out expansion opportunity with purchase of NuVinAir appeared first on Auto Remarketing.

He talks with Cherokee Media Group senior editor Joe Overby about electric vehicle battery health, delving into some of the research, insights and regulations around that and how it impacts EV valuations.

Listen to the conversation in the window below and stay tuned for more from NADA Show 2024.

The post PODCAST: Cox Automotive’s Stephen Smith talks EV battery health & more appeared first on Auto Remarketing.

The partnership integrates UVeye’s artificial intelligence-powered computer vision automated vehicle inspection systems into Acadia’s appraisal process to add efficiency and accuracy, accelerating the claims process for vehicles involved in accidents.

UVeye said its drive-through systems will enable appraisers to conduct assessments of vehicle damage with much greater speed and accuracy than manual, reducing wait times and increasing transparency.

In a news release, the companies said the collaboration represents “a milestone in the integration of AI in the insurance industry.”

“Insurance has long been characterized by traditional, manual processes, but this boost of computer vision gives us a glimpse into the future,” Acadia chief claims officer Keith Gleason said. “We’re proud to work with UVeye to pioneer this transformative AI-driven approach, introducing a new standard in insurance claims management, one that prioritizes accuracy, efficiency, safety and, ultimately, customer satisfaction.

“It’s a win-win for both the insurer and the insured.”

UVeye CEO and co-founder Amir Hever said the companies are working to “pioneer a new era” of AI-driven claims processing.

“Together, we are rewriting the rules of insurance claims management,” he said. “Drivers will be amazed how simple, accurate and trustworthy the claims process is about to become, making car scrape-ups that much less painful.”

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