LAWRENCEVILLE, Ga. — Vehicle valuation solutions provider Black Book (div. Hearst Business Media) announced a new partnership agreement with dealer software provider Autosoft Inc. Under the agreement, Black Book will integrate its vehicle valuation data into Autosoft’s DMS offering.
“Our dealers rely on us for a complete end-to-end dealer management system that allows them to run their business seamlessly, efficiently and profitably,” said Dale Novotniak, who serves as program director for Autosoft Connect. “With the integration of Black Book’s vehicle valuation data, our dealers can trust the fact that we’re giving them every opportunity to maximize their profit potential with access to the most accurate valuation data in the industry.”
With the integration of Black Book’s data, Autosoft’s dealer partners have access to accurate vehicle values when working with a customer during the trade appraisal process, according to the companies. The announcement cited data from a recent Black Book survey that showed consumers feel a vehicle trade-in quote that’s far from expectations is the second-most likely scenario to kill a possible deal.
Many consumers cited specific frustrations with the valuations they often receive from a dealer. More than one-third (36%) of those polled said their researched quote was $1,001 to $1,500 apart from the dealer’s offer; and another 27% said their quote was more than $1,500 apart. Nearly half (47%) said they need the dealer’s offer to be between $501 to $1,000 of their research quote for it to be acceptable.
“Today’s technology offerings are critical for every dealer looking to gain a competitive edge in their market, especially from an operational standpoint,” said Jared Kalfus, executive vice president of revenue at Black Book. “More importantly, having access to the right vehicle valuation data goes beyond a single transaction since it helps create a stronger, less adversarial relationship with each customer, opening the opportunity for future transactions with them, as well as their friends and family.”