First Dynamic Auto-Pricing Tool For Automotive Dealerships
DALLAS, TX -- RedBumper, LLC (http://redbumper.com/), a new generation automotive inventory management company, today announced the release of SmartPrice™, the first dynamic automated pricing tool in the automotive industry.
SmartPrice™ allows dealers to dynamically and automatically price their inventory against trim and option matched competitor vehicles in their markets. SmartPrice™ uses algorithms to make automated price adjustments and then syndicates and distributes to the Internet. The SmartPrice™ tool optimizes profit for each unit by analyzing market supply and demand in real-time. It then integrates sophisticated market trend and tendency analysis. A dealer’s objective is to minimize turn time while maximizing profit, and SmartPrice™ allows the dealership to be one step ahead of its competition and eliminates the headaches and excess time associated with manually pricing inventory.
“Imagine pricing a vehicle one time and never touching it again! The system does the rest,” said Bruce Thompson, CEO and founder of RedBumper, LLC. “SmartPrice™ changes the game because there is not another product like it on the market. This tool will actually adjust retail prices daily as it adapts to the market. It’s faster and much more accurate than a human could ever be. It uses trim, option and mileage data points when establishing and pricing against the competition. It’s deadly accurate and saves the dealer hundreds of man hours trying to price by hand. SmartPrice™ modifies pricing for profit and turn and also has built-in profit protection mechanisms so the dealer can sleep at night.”
SmartPrice™ is the first tool on the market to automate pricing intelligence in order to optimize a dealer’s return. It eliminates the need for manual daily price updates and automatically syndicates and distributes list prices using RedBumper’s advanced syndication process.
“We have been beta testing SmartPrice™ with a few hand-selected dealers and the results have been overwhelming. It is the first tool to solve the vehicle-pricing puzzle and bring dealers into the 21st century. The SmartPrice™ tool can distribute pricing to any listing tool on the market and can write back pricing to some of the largest DMS providers. It was designed to be a seamless product the dealer can add to his existing merchandising suite if desired,” said Thompson.
RedBumper now offers SmartPrice™ as an integrated component of its RedBumper™ suite of inventory management tools or as a stand-alone product. For more information contact RedBumper at 888.339.1116, or on its website, www.redbumper.com
About RedBumper, LLC
RedBumper, LLC is a new breed of 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). The RedBumper™ suite of inventory management tools is a very powerful next generation system offered on a flexible Smartphone-centric platform with tools that are both innovative and intuitive. RedBumper 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 groundbreaking tools that give auto dealers a significant competitive edge by being first to market. It enables auto dealers to turn inventories faster while realizing more profit, month after month.
12/17/12
