DealerTrack AAX enhances inventory management solution with the addition of new “MarketDriver” functionality, delivering regional market information.
LAKE SUCCESS, N.Y., Feb 12, 2010 (BUSINESS WIRE) — DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that it has enhanced the DealerTrack AAX inventory management solution with the addition of new “MarketDriver” functionality. The new functionality provides dealers with an unprecedented range of regional market information to help them identify and acquire vehicles that perform well in their markets – empowering them to make smart, low-risk inventory decisions that maximize dealership profits.
MarketDriver allows DealerTrack AAX users to see top-performing vehicles in their local market. No other technology provider offers such a powerful combination of data from ALG, Experian (AutoCount) and Manheim. Each individual dealership can now access customized information based on their defined geographical market and other preferences. Dealers who use DealerTrack AAX will be able to see market days’ supply, average listing price, and regional profit potential.
DealerTrack AAX continues to provide dealers with historical transaction information that details how particular vehicles have performed in their dealership. With this new integration, dealers also get the tracking capability to more effectively manage the performance of vehicles they are adding to their inventory mix. Not only can dealers see top market performers, they can track whether those picks are top performers for them. Taken together, the data provides a complete picture of how a vehicle has performed historically, both for the dealer and in its regional market, while also mitigating risk and providing insight into its potential future performance.
In addition, MarketDriver helps streamline the sourcing process for needed vehicles, all from one screen. It allows a dealer to quickly and easily search for a used vehicle by checking its own database of customers (sales and service) and prospects (missed appraisals), inventory at any affiliated stores, and current auction listings (physical and online). The solution then presents the sourcing options in order of their profit potential for the dealer.
“In today’s market environment, it is increasingly difficult to source quality used vehicles, and many dealers may be forced to stock ‘non-core’ vehicles that they have not previously sold – or sold successfully,” said Raj Sundaram, senior vice president, solutions and services group at DealerTrack. “Our new MarketDriver functionality enables dealers to access a wide array of regional market information about a particular vehicle, and to identify the best way to acquire it, so they can confidently make more aggressive inventory decisions that enhance their profits while minimizing the risks.”
Mr. Sundaram continued, “We are passionate about providing our dealers with the best tools in the marketplace to make the right decisions about what vehicles to stock. We know that when dealers stock the right vehicles and price them right they can achieve faster turns and improved profitability. In order to give our customers that edge, we have included MarketDriver as part of our core package.”
MarketDriver will be rolled out automatically for all DealerTrack AAX customers at no additional cost.
About DealerTrack (www.dealertrack.com)
DealerTrack’s intuitive and high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. Our solution set for dealers is the industry’s most comprehensive. DealerTrack operates the industry’s largest online credit application network, connecting approximately 17,000 dealers with over 800 financing sources. Our Dealer Management System (DMS) provides dealers with easy-to-use tools with real-time data access that will streamline any automotive business. With DealerTrack AAX, dealers get the inventory management tools and services needed to accelerate turns and increase profit. Our Sales and F&I solution enables dealers to streamline the entire sales process, quickly structuring all types of deals from a single integrated platform. DealerTrack’s Compliance solution helps dealers meet legal and regulatory requirements and protect their hard-earned assets. DealerTrack’s family of companies also includes data and consulting services providers, ALG (Automotive Lease Guide) and Chrome Systems.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of DealerTrack’s inventory solutions, including MarketDriver; the benefits of the integration of ALG, Experian and Manheim data and tools; and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the adoption by dealers of DealerTrack’s inventory solutions, including MarketDriver; the performance by DealerTrack’s third-party partners; and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2008. These filings can be found on DealerTrack’s website at www.dealertrack.com and the SEC’s website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.