White label application empowers digital retailing efforts and gives dealers robust new tools to buy vehicles directly from consumers
Dallas, TX – January 19, 2015 — Pearl Technology Holdings, LLC (Pearl) www.pearltechnologyholdings.com, an automotive technology incubator created by auto industry entrepreneur Bruce Thompson, today announced the release of new tools that help auto dealers streamline the digital retailing process and buy vehicles directly from consumers. Private label widgets with dealer branding can be embedded into dealership websites allowing a consumer to submit their vehicle to the dealership for a buy offer, or get a trade-in value. The website widget gives the dealership its own online concierge that walks the customer through a streamlined process. The tool also gives dealers a private label smartphone app to distribute to their consumers on Apple and Android platforms. These tools bring both the consumer and dealer together in a real-time bidding platform that allows the consumer to submit their vehicle for an offer in under seven minutes.
“Valuation widgets on dealership websites need a significant upgrade,” said Pearl CEO and Founder, Bruce Thompson. “The current generation of car buyers want the ability to buy and complete a transaction online. They do not want to spend hours at the dealership. Digital retailing is where our industry is headed and to get there a dealer must be able to accurately value the trade and communicate with the consumer efficiently. Aggregators like AutoNation and Sonic Automotive are quickly heading down a path to streamlines the retail transaction to 30 minutes or less. Pearl’s new tools give any dealer the ability to value a trade or simply give the consumer a cash offer in minutes. It’s a real-time bidding platform that has incredible functionality and is light years ahead of anything on the market today,” Thompson added.
Once the consumer submits their vehicle information the dealer receives a real-time notification. The dealer can analyze vehicle condition, photos, history and see wholesale book values and auction data from their mobile device or dealer portal, and immediately place an offer. If the dealer requires additional information, they simply submit a request that notifies the consumer. The consumer is instantly notified that their offer is ready, or that additional information is requested.
If the consumer accepts the offer they receive drop-off instructions with a Google Map displaying directions on how to get to the dealership from the consumer’s location. If the consumer declines the offer, they have the opportunity to submit a counter-offer that they would be willing to accept. In either instance, all consumer activity is stored and reported in the Pearl dealer portal and dealership CRM tool.
“The objective is to give the dealer tools that connect the dealership to the consumer in real-time; allowing them to give a firm and accurate offer, rather than a value range provided by a 3rd-party,” said Thompson. “Smartphone consumer submission and mobile dealer bidding and notifications enable an offer to be completely processed in under 10 minutes, which is phenomenal for both dealer and consumer. The dealer now has a world-class application with their own branding that would cost millions of dollars to build on its own. And the consumer has an experience far superior to anything on the market today.”
Pearl Technology Holdings will be displaying this new technology at the NADA Convention in San Francisco, CA, January 23-25, 2015. Live demonstrations will be conducted throughout the show at Booth #919 S.
About Pearl Technology Holdings, LLC
Auto industry entrepreneur Bruce Thompson announced earlier this year the formation of a new holding company, Pearl Technology Holdings, LLC. Pearl was created to be an automotive technology incubator. The company’s mission is to create and deliver innovative new impact tools to the industry. Thompson was credited with creating the “used car inventory management” space when he formed American Auto Exchange (AAX) in 2001. In 2010 he started RedBumper, LLC, which is also primarily focused on “used car inventory management.” Pearl launched three new subsidiaries in 2014; CarOffer, LLC, NewCar IQ, LLC and VehicleXchange, LLC.