DALLAS — Pearl Technology Holdings announced it will introduce a new pre-owned marketing platform at this year’s NADA convention in Las Vegas. Pearl Pre-Owned will exclusively focus on pre-owned profitability with “consumer-centric” vehicle sourcing tools and “targeted and efficient” marketing modules.
The platform seamlessly incorporates and utilizes 6 of Pearl’s most powerful tools; Propensity360, VehicleXchange, ShowroomXpress, Trade-In Concierge, RPM and Pearl Proximity. It is also automated and mobile, providing dealer clients flexibility and constant consumer engagement, all according to Bruce Thompson, Pearl’s founder and CEO.
“The elephant in the room in the automotive industry is profitability. According to NADA, the average net profit on a pre-owned vehicle in 2017 was $116 and down more than 30% over the last three years,” Thompson said. “The treadmill dealers are on is simply unsustainable, and if things remain status quo, many dealers won’t be around in the next 10 years. Everyone is making money except the dealer, and that has to change.”
Pearl Pre-Owned focuses on the two primary pillars of auto retailing; sourcing inventory and turning it quickly for a fair profit. The platform establishes multiple “direct from consumer” sourcing channels that are automated, constant and mobile. Once vehicles are sourced, they are immediately marketed to the customers most likely to buy them; both from the dealer’s database and from the market. The system was designed to utilize exact payment-matching technology and intelligence to match vehicles to the consumers who can afford to buy them.
“The bottom line is we have the intelligence to know who is likely to buy what and when they are likely to buy it. Sourcing directly from consumers saves the dealer a fortune in fees. Knowing exactly who to market to means that we don’t have to cast the traditional wide advertising net to find them. As a result, hundreds of thousands of dollars, if not millions, can be saved per year,” Thompson said.
Visit Pearl Technology Holdings at Booth 4016C at the NADA convention.