Tool Gives Dealers Competitive New Car Pricing, Promotional Clarity
OAKBROOK TERRACE, IL (January 21, 2015) – Dealers who use vAuto’s Conquest system to price and merchandise their new vehicles are attracting more attention from new vehicle shoppers on AutoTrader.com than competing dealers, according to a new study from AutoTrader.com and vAuto.
The study compared the online performance of 215 vAuto dealers using Conquest to their competitors over a five-month period last fall. The findings showed a 32 percent increase in Vehicle Details Page (VDP) views per new vehicle listing on AutoTrader.com for dealers using Conquest, compared to a 10 percent increase for competing dealers who do not use the system.
“The study findings validate our fundamental belief that dealers who price their new vehicles to the market, and promote those prices on sites like AutoTrader.com, will be rewarded with greater attention and interest from new vehicle buyers,” says Dale Pollak, vAuto founder and executive vice president at Cox Automotive. “The findings also affirm the feedback from Conquest dealers who say the system helps them efficiently find the pricing ‘sweet spot’ for each new vehicle, which drives more VDPs, showroom traffic and sales.”
Launched in January 2014, the Conquest system gives dealers an unprecedented, competitive view of new vehicles available in a market. Conquest identifies the market strengths and weaknesses for each new vehicle, given its color, equipment and trim configuration, compared with competing units. Dealers use this Conquest-provided competitive data to efficiently execute online pricing and promotional strategies that will help them maximize buyer interest and achieve their goals for new vehicle profitability and sales volumes.
“Conquest helps dealers meet consumer desires for greater clarity and transparency in their new vehicle pricing and sales processes,” says Randy Kobat, vice president and general manager for vAuto. “As the study shows, dealers who embrace this new way of doing business in new vehicles have a distinct advantage.”
At the National Automobile Dealers Association (NADA) convention later this month in San Francisco (Booth #1718S), vAuto will launch a stand-alone Conquest platform that extends the system’s new vehicle pricing and sales advantages to all franchised dealers.
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase sales volumes and profits. Founded in 2005, vAuto revolutionized dealers’ used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto’s visionary founder, Dale Pollak, the Provision suite guides used vehicle acquisition, appraisals, pricing, merchandising and more based on real-time, local market supply-and-demand data. In 2014, vAuto combined the Velocity method with the power of incentive management to create the Conquest™ new vehicle inventory management and pricing tool. In addition, vAuto Genius Labs provides smart, simple and stand-alone solutions including AuctionGenius. Headquartered near Chicago, Illinois, vAuto is wholly owned by Cox Automotive™, which also includes Manheim Auctions, AutoTrader.com®, Kelley Blue Book®, Xtime®, VinSolutions® and Haystak® Digital Marketing and HomeNet Automotive®. For more information, visit www.vauto.com.