LAKE SUCCESS, N.Y. — DealerTrack Inc., a provider of on-demand software and data solutions, today announced that it has enhanced its InventoryPro inventory management solution with the addition of expanded market reporting and analytic capabilities, as well as the ability to update Internet pricing.
These additions to InventoryPro, coupled with the recently acquired AAX and PriceDriver businesses, further strengthen automotive retail’s most complete inventory solution.
Price forecasting analytics provided by Automotive Lease Guide Inc., a DealerTrack company, and AutoCount market reporting data from Experian Automotive will help dealers identify sales opportunities and stock the most profitable, fastest-turning vehicles. Recent sales data is available for a dealer’s market area. Additional sales performance data includes transaction prices, days-to-turn and gross profit, both at a regional and national level.
With this information, dealers can take action to proactively price their inventory to accelerate inventory turn and/or increase profitability, and make better wholesale/retail decisions.
Through an expanded partnership with AutoRevo, which already supplies Internet price updates to AAX and PriceDriver, users will be able to update a vehicle’s price on their Internet listings. As dealers decide on appropriate price changes, they can modify their vehicle pricing on third-party sites — such as Cars.com, Autotrader.com, eBay Motors and craigslist — with a single mouse-click.
“With robust new analytics and website update capabilities, DealerTrack’s InventoryPro is a more powerful tool for dealers looking to better control their inventory,” said Tim Zierden, general manager, inventory at DealerTrack. “By helping dealers stock the right vehicles and price them right, the solution delivers demonstrated value — for a substantial return on their technology investment.”
“In today’s trying times, dealers need to have up-to-date market reporting that gives them insight into what’s selling across their market so they can better manage their inventories,” said Scott Waldron, president of Experian Automotive. “We are excited to partner with DealerTrack in helping to supply dealers with this information so they can continue to make the best inventory decisions for their businesses.”
“We are pleased to provide Internet pricing updates for all three DealerTrack inventory management solutions — AAX, InventoryPro and PriceDriver,” said Chad Polk, president of AutoRevo. “Updating inventory on the Internet has become a critical element of selling online. We are excited to partner with DealerTrack to help give dealerships the ability to move cars online fast.”
DealerTrack’s InventoryPro provides dealers with the tools they need to monitor and manage their inventory. In addition to the vehicle sales performance reports, dealers can access metrics from multiple sources to complete appraisals, search real-time auctions for sourcing and vehicle stocking, view pricing recommendations based on their own transaction data, and receive real-time retail market pricing data.