PLANO, Texas -

American AutoXchange and RedBumper founder Bruce Thompson officially launched a newly formed holding company on Wednesday with the goal incubating, developing and distributing multiple software initiatives across different sectors of the industry during the rest of the year.

Thompson and the rest of his executive leadership team highlighted that Pearl Technology Holdings will aim to provide unique and innovative software solutions that streamline both dealer process and performance across a wide spectrum of profit centers and technologies.

“With the creation of Pearl Technology we have added significant capital and infrastructure to build and develop some incredibly powerful new tools,” Thompson said.

“It has always been our vision to leverage our creative ingenuity and our gifted technology team to fulfill our vision to influence the future of the automotive industry,” he continued.

Thompson highlighted Pearl has already formed partnerships with some of the largest companies in the United States. Two of Pearl’s new initiatives — NewCarIQ and CarOffer — are already in the market today and a third — VehicleXchange — will be released in the third quarter.

“As we build these tools, our partners will have input into their design and will also help to market and distribute them,” he said. “We couldn’t be more excited and it is a very busy time for us.”

The operation launched CarOffer earlier this year. CarOffer is a mobile platform designed to give dealers the ability to acquire used inventory directly from consumers.

Consumers wishing to sell their vehicle can download the free CarOffer mobile application in the Apple App Store or Google Play store, or visit the official website at http://www.caroffer.com to submit their vehicle for a cash offer from a CarOffer franchised dealer in their local market. Consumers typically receive their offer within two to three hours of submitting their vehicle information.

The company has been processing approximately 30,000 consumer requests per month in its first 10 weeks of operation. Thompson indicated volume is anticipated to double within the coming months with planned national marketing campaigns to both dealers and consumers alike.

In addition to CarOffer, Pearl Technology Holdings plans to launch several more new initiatives this year. It has just completed the pilot phase for NewCarIQ, which is geared to address one of the biggest challenges dealers face every day — the pricing and stocking of new-model inventory.

“A dramatic shift towards pricing transparency is underway in the automotive industry. Dealers slow to adapt to this new world of transparency will soon start to lose market share,” Thompson said.

“NewCarIQ solves the complex puzzle of new car pricing by automating stackable incentive integration; auto-compiling vehicle competitive sets to trim and color and key competitors,” he continued. “A dealer can now literally price and syndicate hundreds of new cars with calculated incentives in less than five minutes.

“NewCarIQ is the first of its kind to bring sophisticated and comprehensive inventory management analytics to the new-car space,” Thompson went on to say. “It will act as an enterprise-reporting dashboard for both individual dealers and any size groups.”

For more information about Pearl Technology and the upcoming initiatives, visit http://www.pearltechnologyholdings.com.