With new-vehicle sales declining, it’s more important than ever that dealers seize the opportunity to close every deal. To do so means providing a flexible, customer-friendly car buying experience, which in today’s automotive market, requires dealers to source up-to-the-minute information across industry channels. Recognizing this challenge and in an effort to give dealers and OEMs the best data possible, Cox Automotive Rates & Incentives (CAR&I) is announcing the introduction of three new enhancements that will generate a more consistently accurate industry indicator of retail buying motivation available on a monthly basis.
First launched as its own brand in 2016, CAR&I is the powerful combination of two of Cox Automotive’s well-known operations: Dealertrack Rates & Residuals, a data provider for lease and residual value calculation, and AIS Rebates, a reader-friendly guide to incentivized manufacturer offers. Both brands demonstrated decades of success before joining forces to power CAI applications and external client needs. Today, CAR&I is the industry’s only source for reliably precise data, currently feeding more than 86,000 dealer applications per month.
The breadth and depth of CAR&I’s incentive database, containing more than 10 million individual data points collected across all industry verticals, is unparalleled. Moreover, the speed of publishing, continued advancements and reduced time to market are all best in class within the industry. Now, the addition of three new enhancements will enable CAR&I to outperform its own high standards, much to the benefit of dealers, customers and OEMs.
- Automation of Data Input: facilitates added speed and accuracy of information release by allowing dealers and software integrators to publish and update new incentives quicker for more precise and up to date offers and discounts
- Dynamic Transaction Templates: reformatting data allows for real-time deal scenario-building, enabling the consumer to transact 100% online with incentives that are specific to their household, vehicle and location with full compliance
- Advertised Specials: full set of OEM compliant tier I and II advertising offers used in digital advertising and competitive research making it easy to implement single integration for all OEM’s including factory and dealer disclaimers
Thanks to these enhancements, CAR&I has new capabilities to systematize data faster and with improved accuracy. With the advent of digital retailing, speed and accuracy of information are non-negotiable for customers,” says Brad Korner, CAR&I general manager. “In a climate where the impact of a missed sale is so great, every deal is critical and having the information you need to close every deal at your fingertips is essential.”
New Incentives Insights Offered by the Cox Automotive Rates & Incentives Team
Using insights gleaned from its unmatched data set, the CAR&I team has begun providing insights to help dealers make smarter, more informed rates and incentive decisions. Whether it’s closing a key deal in the showroom or devising franchise-wide inventory strategy for next quarter, the CAR&I team is helping provide the insights necessary to succeed. Visit Cox Automotive’s website to see the latest from the CAR&I team at www.coxautoinc.com/rates-incentives/. The team’s insights, the volume of OEM programs, guaranteed vs. conditional offers, best payment criteria and improved capabilities help provide a much-needed advantage during a slow sales cycle when, more than ever, each and every sale counts.