LAKE SUCCESS, N.Y. — Software and data solutions provider DealerTrack, a subsidiary of DealerTrack Holdings Inc., has announced the addition of real-time market pricing functionality to its InventoryPro inventory management solution. The new real-time market pricing functionality, based on continually updated price quotes for millions of vehicles across the country, was designed to allow dealers to see at a glance how local competitors are pricing particular vehicles.

Armed with this information, dealers will have the ability to adapt to fluctuations in the market and adjust their pricing. The new feature also promises to allow dealers to establish pricing parameters for their inventory relative to market prices, and to receive alerts should vehicles fall outside of those parameters.

"Now dealers can have real-time market pricing and historical sales performance data in a single solution — at a significantly lower cost than any other product on the market," said Raj Sundaram, senior vice president, dealer solutions at DealerTrack. "This is consistent with our approach to help dealers leverage technology to lower their operating costs."

"The latest InventoryPro enhancements that give us the capability to view real-time pricing in the surrounding market area are cutting-edge," said Bill McMorris, director of remarketing at Jim Ellis Automotive Group, which operates 11 dealerships in the Atlanta area. "These new features, coupled with sales history, auction data and appraisal tools that are already available in InventoryPro, are just what we need to better manage our inventory — and they're all in one place."