First Inventory Analytic Tool to Truly Blend Historical Performance with Local Market Data
Dallas, TX – RedBumper, (http://redbumper.com/) a new breed automotive inventory management company, today announced that it will unveil SmartLot at the 2012 NADA & ATD Convention and Expo in Las Vegas, NV, February 3-6. SmartLot is the first auto dealer inventory analytic tool to truly blend historical performance with local market data, providing optimal inventory stocking recommendations. It is also the first comprehensive mobile inventory management solution; SmartLot works in real-time on a Smartphone mobile platform, providing the ultimate in flexibility; an inventory management tool in the palm of the hand. Workshops will be held throughout the convention to unveil the new system. To register for a workshop visit: http://redbumper.com/nada.aspx
“SmartLot uses a number of criteria to determine which top market performers are likely to perform well for a specific lot. Other systems in the industry rely on chance when recommending a market performer. We take the analysis to another level and add a bit of secret sauce. As a dealer buys and sells vehicles, SmartLot automatically makes slight adjustments to help improve sales and profits month after month. The longer a dealer is on our system, the better he becomes because the system is really designed like no other system on the market. If a dealer wants to grow sales while improving sales times, they need SmartLot!” said RedBumper founder Bruce Thompson.
SmartLot includes a powerful market metrics tool, Market IQ, which provides dealers with unequaled market analysis. As dealers acquire and liquidate vehicles, SmartLot seamlessly analyzes the performance of each and compares the dealership’s needs to the hottest current market performers, maintaining a continual pulse on market supply and demand.
MarketIQ turns SmartLot into the first inventory management tool to supply auto dealers with the turn time of each unit in the market and the profit per day. And that’s not all; because of exclusive relationships with key partners, MarketIQ then returns the average retail sold price and provides the dealer with all their competitor’s listings of that vehicle and suggested acquisition and listing price.
These recommendations are provided in 3-5 seconds and, unlike other tools, it does not require that users search through charts and graphs. This tool is especially valuable in the hands of a buyer at auction or an appraiser at the store.
SmartLot is also the only inventory management tool that enables dealers to capture any and all inventory opportunities including existing service customers, trade-ins, auctions, and private consumer listings. It includes several tools to help dealers capture these sources of inventory.
Firstly, a built in Service Drive Harvester, a dynamic tool that helps dealers acquire inventory from their own customers on the service drive. Built right into SmartLot, Service Drive Harvester helps turn the service drive into an auction lane. It Searches through a dealer’s DMS and finds vehicles on the buy list which are in a positive equity position. The service advisor simply scans the VIN and if vehicle is on buy list, the appraisal comes right across to the used car manager via his phone or desktop.
Secondly, to capture lucrative market of private consumer listings, SmartLot includes ConsumerLane. Also built into SmartLot, ConsumerLane is perhaps best described as; “a used car superstore in a box”. The dealership simply enters specific used vehicles it needs and Consumer Lane automatically queries from its internet partners. It quickly delivers used vehicles listed for sale by only by consumers in the past 24 hours. 60-70% of consumers selling a used vehicle are in the market for a replacement, so ConsumerLane provides both used car inventory and in market car buyers.
SmartLot is in high demand and RedBumper is on pace to install well over 100 dealerships per month for the first quarter. For more information about RedBumper call: 888-339-1116 , visit, www.RedBumper.com or sign up for a demonstration at NADA at: http://redbumper.com/nada.aspx
RedBumper is a new breed automotive inventory management company created by Bruce Thompson. Thompson is widely credited for pioneering modern day inventory management when he introduced new tools to the industry in 2001 with American Auto Exchange (AAX). RedBumper is a very powerful next generation system offered on a flexible Smartphone-centric platform, with tools that are both innovative and intuitive. Its objective is to streamline auto dealer workload by delivering a system that is simple to use and direct. The company aims to take a new approach, offering fresh and creative tools the industry has never seen while at the same time leveraging proven technology. RedBumper prides itself for delivering ground- breaking tools that give auto dealers a significant competitive edge by being first to market. Creating the most powerful suite of tools on a flex platform allows RedBumper the opportunity to reduce much of the cluster and redundancy prevalent in current market products. It enables auto dealers to turn inventories faster while realizing more profit, month after month.