TAMPA, Fla., April 7, 2017 /PRNewswire/ -- CompetitorPro, the first competitive intelligence software built specifically for automotive dealerships, announced today the launch of three new features in advance of the Digital Dealer Conference and Expo: Live Inventory Analysis, Buy List and Stocking Gaps.
"Until now, dealers haven't had a product like CompetitorPro that provides accurate and real-time benchmarks comparing their performance to top competitors," said Founder and CEO Steve Greenfield. "CompetitorPro helps our dealers understand how they're performing against their competition. Now they can understand how to optimize their new and used inventory, turn their inventory quicker, increase profit per car, and ultimately win share in their local market."
"By all indications, we're about to enter a challenging environment for vehicle retailers," said Greenfield. "New car inventories and incentives are at all-time highs. We're facing a large influx of off-lease vehicles which is going to reduce used car prices, threatening to substitute new car sales. The Federal Bank is signaling multiple rate increases over the remainder of the year. And economists are speculating that we're long in the economic cycle and due for a correction. All of these indicate that times are likely to get tougher for car dealers."
CompetitorPro provides dealers with unique insights to increase the overall health of their new and used car operations. "Optimizing inventory stock to match local market demand while monitoring real-time supply/demand and adjusting prices accordingly will help dealers keep their operations healthy, no matter what economic headwinds are ahead of us," Greenfield noted. "CompetitorPro provides dealers actionable insights for getting ahead and staying ahead of their competition."
"Our vehicle acquisition recommendations are driven by individual vehicle characteristics such as color, trim and packages that add or detract from days to sell or price to market." said Co-Founder and COO, Eric Cotter. "Dealers can now see the hot cars in their market and quickly understand how attributes such as exterior color, trim, and year play into their potential turn time and per-vehicle-profit. We help dealers think twice before buying that Audi A4 without nav. CompetitorPro allows a dealer to evolve past comparing themselves to the 'average' of their local market, by providing real time lot composition insights at a local and even dealer by dealer level, ranging from Market Days Supply, Price to Market and Inventory age."
Dealers who sign up for CompeitorPro at the Digital Dealer conference will get three months free and four deep-dive mystery shops of their competitors.
CompetitorPro is the industry's first competitive intelligence tool built specifically for automotive dealerships.
As dealers look for ways to compete more effectively, advanced competitive intelligence solutions provide accuracy, analytics, and actionable recommendations that are missing in the market today. CompetitorPro's competitive intelligence solutions utilize complex algorithms that summarize insights so dealers can perform at the highest level of effectiveness in today's dynamic marketplace.
Visit www.CompetitorPro.com now for a demo. For more information, contact Steve Greenfield at (470) 223-0227.
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