LAKE SUCCESS, NY — Software provider DealerTrack Inc. launched DealerTrack Inventory Optimization, a solution powered by AAX and designed to meet the needs of franchise and independent dealers of any size.
The solution includes new proprietary scoring and recommendation functionality to help dealers determine what to do with a vehicle at the time of appraisal based on potential profit levels. For any particular vehicle, a numerical score and buy/sell recommendation are assigned based on actual transactions involving that make/model in a dealer's own store and the surrounding market area. With this unique functionality, dealers can make smarter decisions and develop specific strategies for all trade-ins when the trade-in is first appraised.
"DealerTrack Inventory Optimization is built on the premise that better data helps dealers make smarter inventory decisions that drive increased profits," said Tim Zierden, general manager, inventory solutions at DealerTrack. "In today's market, managing inventories more proactively and systematically is one of the smartest moves dealers can make to improve their top and bottom lines."
DealerTrack Inventory Optimization, which is structured as four distinct service offerings, helps dealers take the guesswork out of managing their inventory. The solution is driven by the industry's most comprehensive data set, including over 30 million actual vehicle transactions. With this easy-to-use platform, dealers can make smarter decisions from the point of acquiring vehicles through the entire vehicle lifecycle. Leveraging the solution's technology and consulting services, dealers can develop a specific and strategic plan for each and every vehicle and thereby increase gross profits and reduce days-to-turn.
Zierden concluded, "Based on a recent analysis, on average, dealers implementing core vehicle recommendations provided by DealerTrack have increased their gross profit per vehicle by 53 percent and reduced days-to-turn by 11 days."
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