CHICAGO – Franchised and independent dealers are using Internet technology developed by Chicago-based vAuto to stock their used-car inventories and generate profits despite rising fuel costs and declining new-model car and light-truck sales.
The company is receiving more than 100 calls per week from dealers interested in learning more about its new web-based stocking system for used cars, making vAuto the industry’s fastest-growing supplier of market information for the country’s more than 70,000 car dealers.
“Sharply rising gasoline prices have led to drastic changes in used-vehicle demand and pricing, especially for SUVs, light trucks and larger cars,” says Keith Jezek, the company’s president and CEO. “Dealers can’t rely on historical sales data when stocking and pricing their used-vehicle inventories. Market-driven inventory management has become the name-of-the-game in today’s marketplace.”
Used-vehicle sales today account for more than 30 percent of all franchised dealership profits, according to Jezek. With more than $90-billion tied up in the nation’s used-car inventories, it’s become critically important for dealers to know how to stock used vehicles.
The company’s web-based technology collects information on a daily basis for millions of pre-owned cars and trucks. Jezek points out that vAuto is the only company able to provide dealers with this type of up-to-the-minute data on used-vehicle supply and demand.
Acton Toyota in Acton, Mass., moved from third- to first-place in certified used-car sales in its region using vAuto’s web-based systems for stocking, pricing and appraising used vehicles, according to the dealership’s General Sales Manager Craig Belowski.
“The vAuto stocking tool is changing the game in retail the same way that Manheim Online changed the game in wholesale. I am using it more and more, buying cars I would not have known to buy without it.”
Bill Lavery, the owner of Lavery Chevrolet in Alliance, Ohio, notes that since the dealership started using vAuto technology to stock vehicles, its used-car sales and profits have jumped by more than 25 percent.
Christina Caron, general manager of Honda Village in Newton, Mass., points out that vAuto provides Honda Village with a significant competitive advantage.
“We are able to accurately price and stock any trade to market,” Caron says. “At Honda Village, we are always looking for technology with a significant return on investment and vAuto provides that return and more. Our grosses are up 18 percent and volume is up 22 percent.”
The nation’s six highest-volume franchised dealerships by brand now use vAuto’s stocking, appraisal and pricing systems, including Chevrolet, Ford, Honda, Nissan, Lincoln Mercury and Toyota. Virtually every imported and domestic vehicle brand is represented on the company’s customer list.
The company’s unique inventory-management systems drew record crowds and generated record sales at this year’s National Automotive Dealers Association convention in San Francisco.
Dale Pollak, the chairman and founder of vAuto, points out that dealers are hungry for ways to take advantage of dramatic changes in today’s used-car marketplace.
He explains that nearly 90 percent of the nation’s used-car buyers start their search online, adding that his company’s digital, Internet-based technology now provides dealers with the only competitive, up-to-the-minute used-vehicle information available for their specific market area.
Pollak recently launched an Internet blog (www.dalepollak.com) to discuss used-vehicle sales trends. His new book – “Velocity, From the Front Line to the Bottom Line” – is considered a “must read” for auto dealers and their used-vehicle sales personnel. Earlier this year the book jumped onto Amazon.com’s Top 10 list of reference books.
Headquartered in the Chicago suburb of Oakbrook Terrace, vAuto maintains a research and development center in Austin, Texas. Triple-digit increases in its customer base have the company searching for additional technical- and sales-support professionals in both Chicago and Austin.
The company has positions available in account management, customer service, training and marketing at its headquarters and immediate openings for software developers and database administrators in Austin.
Further information about career opportunities at vAuto is available under “Careers” in the “About Us” section on the company’s website site, www.vauto.com. Resumes can be sent to email@example.com.