Lake Success, NY - DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, recently anounced that it has added real-time market pricing functionality to its InventoryPro inventory management solution for auto dealers. The new real-time market pricing functionality, based on continually updated price quotes for millions of vehicles across the country, allows 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 the dynamic market and adjust their pricing, translating to more vehicles sold and increased profits. It also enables 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."
InventoryPro is a comprehensive solution that provides dealers with the tools they need to monitor and manage their vehicle inventory. Dealers can access metrics from multiple sources to complete appraisals, search real-time auctions for sourcing and vehicle stocking, and view pricing recommendations based on their own sales histories - and now, also receive real-time retail market pricing data and local market trends.
DealerTrack Holdings, Inc. (Nasdaq: TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive and related industries. The company's solutions enable dealers to receive consumer leads, submit credit applications and receive responses, compare financing and leasing options, sell insurance, accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the DealerTrack Arkona DMS (dealer management system) is used by dealerships nationwide. Over 22,000 dealers, including more than 90% of all franchised dealers; over 700 financing sources; and other service and information providers are active in the DealerTrack network.