Three inventory management tools made the cut as Dealers’ Choice Award winners, and this year’s results may induce a feeling of déjà vu, considering all three companies placed the same as they did in 2010.
by Staff
May 19, 2011
2 min to read
Inventory Management Tool
The concept of inventory management sounds simple enough: buy and sell the right cars at the right price. Proper inventory management, however, involves harvesting and analyzing a lot of data, which is why so many dealers love quality inventory management tools. Three made the cut as Dealers’ Choice Award winners, and this year’s results may induce a feeling of déjà vu, considering all three companies placed the same as they did in 2010.
In the three years dealers have been voting in the Inventory Management Tool category, the Diamond Award winner, vAuto, has taken home an award each year. The Double Diamond Award winner, acquired by AutoTrader.com in late 2010, won Platinum in 2009, the year the category was introduced. “We are proud to be the recipient of this award for the second consecutive year,” says Keith Jezek, vAuto’s president. “Being voted the highest-ranking vendor in the inventory management tool category by the dealer community is a tribute to our cutting edge technology and Velocity strategy. It is also a testament to the commitment of the vAuto team, all of whom share a passion to help dealers achieve dominance in their used vehicle market.”
FirstLook, by INCISENT Technologies, achieved Double Platinum status this year. This Chicago based company continues to focus on a 360? view of a dealer’s inventory covering everything from appraising trades to pricing inventory online.
DealerTrack AAX, one of the first inventory management products introduced on the market in 2006, achieved the Gold Award this year, marking its third year with an above-average score and assigning it Double Gold status.
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
