Lotlinx, the auto industry’s leading VIN-specific data solution for inventory management, has been named “Auto Dealership Technology of the Year” by AutoTech Breakthrough.
The award-winning Lotlinx VIN Manager is an interactive precision retailing platform that delivers customized business tools to dealers to help them reduce inventory risk, increase profits and better serve customers. Using predictive technology, Lotlinx helps dealers customize inventory and target marketing spend to sell more cars at higher margins. By automatically detecting at-risk VINs, dealers can focus advertising spend on VINs that need it most.
The Lotlinx VIN Manager also:
- Provides real-time insights on market share rankings, competitive analysis and local market penetration insights that equip dealerships to proactively adapt their strategies in the face of rapidly evolving market conditions.
- Allows dealers to adjust their marketing strategies for market factors such as pricing, days on lot and in-market shopper demand.
- Identifies the number of active shoppers within dealers’ local area to determine how many potential buyers they are reaching with current marketing efforts.
- Optimizes sales goals based on market positioning, turn rates and profitability per sale to enhance overall dealership performance.
- Includes automated decision-making capability, performing at an unprecedented rate of 30,000 decisions per second to help dealerships navigate the fast-paced automotive market with agility.
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“Lotlinx helps dealers succeed by empowering them with the technology they need to take control of their inventory. We set out to create a game-changing tool for dealerships that serves as a revolutionary solution to amplify vehicle inventory management and sales effectiveness. It’s an honor to be named Auto Dealership Techology of the Year by AutoTech Breakthrough,” said Len Short, chairman and CEO at Lotlinx. “With our technology and data behind them, dealerships achieve unparalleled success in managing their vehicle inventory. We’re proud to say that the Lotlinx precision retailing platform has helped dealers sell cars seven to 10 days faster while moving inventory at the best price possible.”
Lotlinx’s AI and machine learning innovations help streamline dealers’ operations and move inventory, arming them with data and technology to mitigate risk and provide a market advantage. Through this technology, Lotlinx has helped dealers sell cars 7-10 days faster while moving inventory at the best price possible, helping to increase the average Per Vehicle Retail (PVR) by an incremental $350.
“Lotlinx VIN Manager’s fusion of predictive analytics, real-time insights, local marketing targeting, and rapid automation marks a paradigm shift in how automotive dealerships approach inventory management and sales strategies. In the face of rapidly evolving market conditions, Lotlinx equips dealerships to proactively adapt their strategies,” said Bryan Vaughn, managing director of AutoTech Breakthrough Awards. “The interactive platform has had a transformative impact on dealership operations and outcomes, solidifying its position as a breakthrough product in the automotive and transportation technology market.”
SOURCE : PRNewswire