Technology Incubator delivering powerful new industry tools at a rapid pace
Dallas, TX – January 22, 2015 — Pearl Technology Holdings, LLC (Pearl) www.pearltechnologyholdings.com, an automotive technology incubator created by auto industry entrepreneur Bruce Thompson, today announced that it will be showcasing four new solutions for auto dealers at this year’s NADA. The four products are eCarTag, the first digital hang tags for auto dealers; VehicleXchange, the first conquest equity tool to hit the market; Pearl’s new private label online trade-in concierge platform that brings dealers and consumers together within a real-time bidding platform; and “Insight,“ a new feature within NewCar IQ, Pearl’s inventory management platform for new vehicle inventory. Insight provides dealers with an unprecedented view of what their competitors are doing in the market. Pearl will be debuting the new products and providing live demonstrations at booth # 919S at the 2015 NADA Convention & Exposition in San Francisco, CA, January 23-25.
eCarTags sync with the dealer’s Internet pricing feeds and update the physical vehicle pricing within 15 seconds of an Internet change. They can be reused an indefinite number of times and auto sync with a vehicle’s VIN by simply plugging them into the vehicle’s OBD. The tags are GPS-enabled and have much more functionality than pricing updates. Additional features include pre-scheduled and real-time floorplan checks, battery monitoring, engine auto-start from a smartphone or central portal, test drive activity and much more. eCarTags will also enable a dealer to monitor battery levels in all vehicles on the lot from a central portal. “It’s great to know a battery needs charging before finding out too late when attempting a test drive with a customer,” commented Bruce Thompson, Pearl Technologies, LLC CEO and Founder. By the end of the 1st quarter the system will also allow a user to remotely start and turn off the vehicle engine from the central portal or the user’s smartphone, as well as lock and unlock the vehicle.
VehicleXchange, (VX), a powerful equity marketing tool, has entered into an agreement with Experian, giving it the ability to deliver unique functionality. With just a customer’s name and address, VX can obtain the customer’s credit score, auto loan balance, monthly payment, APR and more; without generating an inquiry on the customer’s credit report. On average, over 65% of service drive customers did not buy their vehicle from the servicing dealership. VX can determine equity on nearly 100% of the service drive traffic, which can more than double service drive sale opportunities.
Pearl’s private label trade-in concierge is a powerful new solution designed to enable dealers to buy vehicles directly from consumers. Dealers can brand Pearl’s mobile trade-in application as their own with world-class consumer Apple or Android smartphone apps, as well as branded widgets for their websites. The widgets come with a built-in online concierge that walks the customer through a streamlined vehicle submission process. The smartphone app allows the customer to launch their vehicle for bid in under seven minutes. This gives dealers a fast and efficient new solution that brings the consumer and dealer together in a real-time bidding platform. In essence, it is a private label trade-in valuation platform that allows a consumer to receive a cash offer for their car from any mobile device or desktop computer.
NewCar IQ, officially unveiled at the 2014 NADA Convention, is a comprehensive platform that allows a dealer to manage every aspect of their new car business. Insight is a new tool within NewCar IQ that gives dealers the ability to understand exactly what every competitor is doing in their market, including day supply, age profile, unit sales, turn times by trim and color and much more. The dealer can select an unlimited amount of competitors to follow in the market, and is then given a comprehensive view of each competitor’s performance and activity. There has never before been a tool that allows dealers to understand exactly what their competition is doing.
“We are very excited and proud to be introducing these new tools,” said Thompson.
“There are many glaring needs within the auto industry and it’s our goal to deliver tools that not only meet these needs, but also go way beyond with out-of-the-box creativity. Pearl will not just re-wrap products currently on the market, our mission is to create completely new tools the industry has never seen. If we can help our dealers make more money and make it faster and more efficiently, we all win, “Thompson added
About Pearl Technology Holdings, LLC www.pearltechnologyholdings.com
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 has been 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.