ATLANTA – January 17, 2023 – With today’s unpredictable market, it’s never been more important for dealers to be disciplined about how they acquire and manage their inventory. That’s why vAuto is introducing enhancements to its flagship inventory management solution, ProfitTime® GPS, which helps dealers achieve superior profitability by enabling them to execute the all-new Variable Inventory Management strategy. Enhancements for 2023 include an alignment tool designed to help multi-rooftop organizations identify and improve subpar pricing performance across individual stores, as well as new integrations that make it easier for dealers to source vehicles more effectively from consumers.
“Between inventory challenges and fast-changing market dynamics, dealers are going to need to do more than dust off the old playbook to succeed,” said Derek Hansen, vice president of operations for vAuto. “Today’s market requires dealers to reach across more sources than ever before to find the right vehicles, and they need real-time data to manage their inventory profitably. That’s exactly what ProfitTime GPS helps them do.”
At its core, ProfitTime GPS is designed around the all-new used vehicle strategy called Variable Inventory Management. Evolving beyond the Velocity Method, which encouraged turning all inventory as quickly as possible, Variable Inventory Management delivers a new direction for used vehicle management—one focused on giving dealers a tailored approach that helps them understand and act on each individual vehicle’s profit potential.
ProfitTime GPS puts this philosophy in action by providing dealers with recommended price ranges on every vehicle, every day. It ultimately shows which vehicles are “turners,” or ones that should be priced to move quickly because they’re in low demand and high supply, and which vehicles are “earners,” or ones that dealers can hold out for more profit on because they are in high demand and low supply.
“vAuto understands the complex realities of the new market, as well the fact that what made dealers successful in the past will likely not be what makes them successful in the future,” said Dale Pollak, vAuto founder and Cox Automotive executive vice president. “We’ve seen firsthand how dealers who use ProfitTime GPS to execute a variable inventory strategy do a much better job of capitalizing on opportunities in today’s market than dealers who are solely focused on turn.”
New Year, New Features for ProfitTime GPS
A new pricing alignment tool inside ProfitTime GPS’ Enterprise Dashboard, which is specifically geared toward multi-rooftop organizations, gives never-before-available insights into which stores within the group price their vehicles in an inefficient and suboptimal manner. The alignment tool groups stores into three different categories based on their pricing performance, which can help them take action to improve profitability.
And since today’s inventory challenges have caused dealers to acquire more vehicles directly from consumers, vAuto has delivered new integrations within the ProfitTime GPS Global Acquisition Dashboard that will help dealers acquire more cars, from more channels, for more of the right money:
Dealers interested in learning more about ProfitTime GPS and how the Variable Inventory Management strategy can move their businesses forward should stop by the vAuto booth at the National Automobile Dealers Association Convention in Dallas or reach out to their vAuto representative.
About vAuto
Founded in 2005, vAuto revolutionized used vehicle operations by providing thousands of dealers with innovative technology, tools and business intelligence. Today, the company helps dealers compete more effectively and increase new and used vehicle sales volumes and profits through a range of data-based solutions. Fueled by the Variable Inventory Management philosophy, vAuto’s flagship offering, ProfitTime® GPS, gives dealers unmatched, dynamic used vehicle data that helps them maximize profit for each individual vehicle. The brand’s other solutions include Provision, a used vehicle management solution; Conquest, a new vehicle inventory management and pricing system; Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform; Intelligent Promotion and Snaplot 360, which are merchandising solutions that can help dealers win online decisions; and iRecon to help dealers recondition vehicles and get them retail ready faster. vAuto is a Cox Automotive brand.
About Cox Automotive
Cox Automotive is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders and fleet owners. The company has 25,000+ employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $21 billion in revenue. Visit coxautoinc.com or connect via @CoxAutomotive on Twitter, CoxAutoInc on Facebook or Cox-Automotive-Inc on LinkedIn.
Media Contact:
Julie Shipp
Senior Manager, Public Relations | Cox Automotive
Julie.Shipp@coxautoinc.com | 404.558.7837
