automotiveMastermind Adds Feature to Help Dealers Better Manage Inventory

automotiveMastermind Adds Feature to Help Dealers Better Manage Inventory

This product enhancement will allow dealers to improve their vehicle turn rates by predicting the customers that are most likely to purchase that vehicle.

automotiveMastermind (aM) announced the company has officially launched Turn. This product enhancement will allow dealers to improve their vehicle turn rates by predicting the customers that are most likely to purchase that vehicle. Turn will be accessible to all users of Mastermind, aM’s automated sales and marketing platform.

“With inventory finally returning to normal industry levels, dealers will once again need to carefully manage those slower moving models that create a drag on profitability,” said automotiveMastermind Chief Product Officer Aaron Baldwin. “Turn not only helps dealers improve their inventory turn range by allowing them to better identify and sell aging inventory, but also to replenish inventory by strategically identifying customers who have high-value trade-ins. Turn delivers on our commitment to continuously enhance the Mastermind platform to enable our dealer partners to increase profitability and provide the best experience to their customers.”

Every day a ready-to-sell car sits on the lot, it costs the dealership money. The longer it remains unsold, the more their profit margin will diminish. aM developed Turn to intelligently sort vehicles based on age, make, model and the number of days the vehicle has been on the lot. Sales teams can then use this data to pitch a qualified list of loyal customers identified and scored as the best potential buyers for each specific vehicle.

Through Turn, dealers can: 

  • Improve their profitability by better managing inventory that has been on the lot 30 days or longer.
  • Strengthen the value of used vehicle inventory by identifying customers with a higher potential to trade in their vehicles.
  • Improve the efficiency of the overall floor plan by increasing their inventory turn rate.

You May Also Like

DAS Technology Wins 2024 NADA Show’s Exhibitor Pitch Competition

Alexi Venneri and Krys VanSlyke bested nine other contestants on the NADA Show’s Live Stage with a two-minute pitch highlighted by their DAS-styled rendition of Run-D.M.C.’s “It’s Tricky.” 

DAS Technology announced in a press release the company cleared a field of 50 applicants to make the final round of NADA’s second annual Exhibitor Pitch Competition, where Co-Founder and CEO Alexi Venneri and Vice President of Customer Experience and Creative Strategy Krys VanSlyke bested nine other contestants on the NADA Show’s Live Stage with a two-minute pitch highlighted by their DAS-styled rendition of Run-D.M.C.’s “It’s Tricky.” 

Test Drive Functionality Now Available in TSD

By integrating TSD’s test drive module into the dealership website, the customer selects their preferred model in advance, thus avoiding the disappointment of arriving at the dealership to find the vehicle they were hoping for is unavailable.

Rita and Rick Case Boys & Girls Club Donates New Athletic Shoes

Rita Case, along with Rick Case Automotive Group associates and Congressman Jared Moskowitz and his family, volunteered to help members select and get fitted for their stylish new sneakers.

MyKaarma, Logitrac Partner to Improve the Service Experience

Dealership employees can access all features the same way they would access native myKaarma features at customer arrival, such as check-in, vehicle walk-around videos, payments pre-authorizations, mobile payments and more.

BendPak Names Expert Automotive Equipment Primary Distributor in Las Vegas Valley

This partnership ensures that customers of Expert Automotive Equipment will have direct access to the latest innovations and equipment from BendPak.

Other Posts

Ed Morse Automotive Group to Acquire 7 Dealerships

These will be Ed Morse Automotive Group’s first dealerships in Arizona. 

Cox Presents 2024 Leader in Sustainability Award

The Cox Automotive Leader in Sustainability Award recognizes a dealership for outstanding in-dealership sustainability programs related to waste reduction, energy or water conservation and focused on innovation, creativity, and engagement with its employees and the community.

WarrCloud Chosen as Warranty Processing Provider for FordDirect’s The Shop

WarrCloud enhances warranty revenue by identifying all entitled line items, concurrently reducing processing expenses and expediting payment processes.

Download Dealertrack’s 2024 Compliance Guide

The guide is an essential asset for dealerships to understand their legal compliance obligations.