vAuto system helps third-generation automotive dealer simplify operations and compete more effectively.
Oakbrook Terrace, IL and Seekonk, MA — Bob Tasca III, an owner of Tasca Automotive Group, contributes to his family’s more than 50-year history of accomplishments in the automotive industry with a long list of his own. Running three successful New England dealerships along with his family, professionally racing an NHRA Top Alcohol Funny Car, and building an automotive consulting business are just a few of Tasca’s current pursuits.
Because he is involved in so many areas of the automotive industry, Tasca said he is often presented with many new ideas and technologies that fail to deliver on their promise to be the “next great thing.” However, the vAuto Pricing Tool stood out as one of the most innovative technologies he had recently seen for used car operations.
The vAuto Pricing Tool allows dealers to price pre-owned vehicles with a live view of retail pricing and supply and demand data for all used vehicles in their market. Using the system, dealers can benchmark any vehicle in their inventory against its direct competition and adjust their prices to drive customers to their lot.
“For us, vAuto has been an integral part of our used car operations,” said Tasca. “The best part of this technology is seeing where problems are and how serious they are, so you know what adjustments to make to move a vehicle. vAuto gives me a distinct competitive advantage in my market.”
Using vAuto’s Web-based software, dealers can set an appropriate pricing strategy based on a detailed comparison to similar vehicles in the area. Dealers can see where a vehicle ranks on customers’ online searches compared to directly competing vehicles and immediately adjust their prices to rank higher on customers Internet searches.
Tasca said the ability to effectively compete for online shoppers is essential because the used car industry has been completely reinvented by the Internet. With a vast selection of vehicles instantly available for viewing, customers no longer drive from car lot to car lot to shop. By the time they come to the dealership, they know the stock number, mileage and even where the vehicle is parked based on the photos in the online listing. This new buyer behavior makes traditional pricing strategies a relic of the past, he said.
“I see a lot of cars that aren’t even priced on the Internet because the manager is waiting to see how much they’ll spend to recondition a new acquisition,” Tasca said. “What you own a car for is irrelevant when your customers can go online and see what it’s selling for at another dealership.”
Now that he can easily see if a car is competitive and how it is selling in the current market, Tasca said he no longer has to sacrifice profit on a used vehicle in order to sell a new unit.
“We’ve seen improvements in showroom traffic and sales since using the vAuto pricing tool,” he said. “Our overall gross has improved because we’re turning slower-moving cars more quickly, we’re taking cars in better and we’re holding on to cars that are a hot commodity.”
Tasca has seen other benefits of the system as well. Before he installed vAuto at his dealerships, Tasca said his team manually researched the competition by pulling together information about the pricing and availability of competing vehicles. With vAuto, he was able to eliminate a time-intensive process and his team quickly bought into the system because they could easily see its value.
“Every technology has an investment of time to learn and if the benefit doesn’t exceed that investment, your team won’t be motivated to use it,” he said. “This tool saves you ten times what you invested in it. It’s an invaluable tool for a dealer to know at-a-glance exactly where they are with a used car investment.”
“Tasca Automotive’s results are a perfect example of the benefits the vAuto system is delivering,” said vAuto CEO Keith Jezek. “Using the vAuto system to efficiently price his inventory, an innovator like Bob Tasca III has a significant advantage over his competition in attracting today’s used vehicle buyers.”
vAuto is the originator of the industry’s first and only live market view for used vehicles. Now dealers can see up-to-the-minute supply, demand and price sensitivity of used vehicles in their market. This provides dealers with the competitive advantage they need to price, appraise and stock their used car inventory. Since introducing the industry’s first used vehicle scoring system in 2005, vAuto’s highly innovative Web-based software solutions have significantly improved the volumes, gross and age of pre-owned inventories of the most successful dealerships in the country. Five of the six highest volume U.S. retailers of the largest automobile manufacturers currently use vAuto.
About Tasca Automotive Group
Founded in 1956 by Bob Tasca Sr., Tasca Automotive currently operates two automotive franchises in Seekonk, Mass. and one in Cranston, R.I. Throughout its more than 50 years in the automotive industry, the Tasca family business has been recognized repeatedly for its innovation and progressive thinking. Of particular note, Tasca Automotive introduced one-price selling and extended hours to the automotive industry. Active in the NHRA drag racing circuit, the Tasca family has won every major sporting car competition from LeMans to Sebring. Most recently, the Tasca Automotive Group was named the first factory authorized Shelby Mod Shop in the world.