ATLANTA, June 24, 2019 /PRNewswire/ -- Clutch Technologies, the leading software platform for the automotive industry to offer vehicle subscription and mobility services, announced today the integration of new features that use proprietary market data and powerful optimization technology developed by Cox Automotive Data Solutions (CADS), to help dealers and OEMs manage their loaner, subscription and mobility fleets more profitably. Subscription providers now have the opportunity to leverage fleet valuations and remarketing data and better evaluate their optimal fleet size and mix.
"The integration of CADS's data and technology further differentiates Clutch's subscription platform. We have created an unparalleled capability with our combination of Cox Automotive's market data, Clutch's subscription software and experience, and the CADS data products and algorithms," noted Vince Zappa, president of Clutch Technologies. "Dealers and OEMS offering subscription with Clutch can leverage this one-of-a-kind intelligence to better manage their fleets and realize increased efficiencies for their subscription businesses."
The Clutch Subscription Platform will now incorporate solutions developed and managed by the Cox Automotive Data Solutions team, including:
Fleet Valuation and Remarketing Data
Each year, Cox Automotive collects data from more than 10 million wholesale transactions and approximately 30 million retail transactions and listings. Capitalizing on this data, insights from vAuto, and the CADS-generated algorithms that power Cox Automotive's Manheim Market Report (MMR) and Kelley Blue Book valuation products, the Clutch Subscription Platform provides wholesale and retail vehicle valuation and gaps, and market supply and demand data to help identify the right time to remove vehicles from fleets.
Optimal Fleet Size and Mix
Subscription, mobility and service loaner operations rely on the ability to meet consumer demand with the right vehicle while keeping utilization high. The high-performance algorithms delivered by CADS generate an optimal vehicle mix that balances subscription velocity, customer preference satisfaction and inventory utilization. The output will allow Clutch customers to make better decisions about the vehicles in their subscription fleets.
"The integration of CADS data and algorithm-development with the Clutch Subscription Platform is a great example of the power of combining assets from across the Cox Automotive family," added Mark Luber, chief data officer for Cox Automotive. "We are bringing together market data from Manheim, Inc., CADS expertise in vehicle valuation and data science, and Clutch's leading subscription and mobility technology, to create a unique solution for managing the fleets of the future. These initial products are just the beginning of our collaboration."
To learn more about the Clutch Subscription Platform and the unique role of data and analytics from the Cox Automotive Data Solutions team, please visit www.driveclutch.com.
About the Clutch Subscription Platform
Clutch's versatile product set includes Service Pickup and Delivery, Extended Test Drive, Vehicle On Demand, Fractional Subscription, Single VIN Subscription, as well as Clutch's "full-time" subscription products, Single Vehicle Subscription and Multi-vehicle Subscription. Every element of Clutch's technology platform, from payments to telematics, is working to deliver an exceptional client and consumer experience. The key advancement is that the Clutch Subscription Platform expands Clutch's algorithms to assign and ultimately maximize the usage of vehicles across several different products from a shared fleet.
About Clutch Technologies
Clutch Technologies is the leader in subscription and mobility services software to the automotive industry. Utilizing Clutch's end-to-end platform, automotive dealers, OEM's, car rental companies and fleet operators can increase asset utilization, offer new revenue streams and deliver innovative consumer experiences. Clutch, a Cox Automotive company, is recognized as a pioneer in the subscription category and has been chosen, trusted and recommended by more than 45 signed dealers and manufacturers across the U.S. and Canada. Learn more about Clutch at www.driveclutch.com.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto®and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. coxautoinc.com
SOURCE Clutch Technologies