Almost 16 years ago, Autotrader launched its online automotive marketplace.
Today, the company is recognizing its evolution into a digital solutions company offering a suite of tools that make car buying and selling easier for consumers, dealers and manufacturers with the launch of a new logo and brand identity.
"This new brand identity reinforces the transformation underway in our business," said Autotrader president Jared Rowe. "We're building on our legacy as the most comprehensive online automotive marketplace by expanding on our strengths, stretching into new territory that aligns with our mission and creating an emotionally engaging experience for both buyers and sellers."
The new brand identity was developed in partnership with brand consulting and design firm Lippincott.
First things first, in written communications, Autotrader will now be treated as a single name with a lower-case “t”.
The company explained this move was made to reinforce the brand’s existing position in the minds of consumers, since the term Autotrader is commonly used and recognized as a single term, company management said.
The new logo, featured above, can be interpreted in different ways, the company said, such as the following: the road ahead, an arrow pointing forward and a subtle "AT."
The design drew inspiration from vehicle badges and translates well to mobile, Web and print applications, which was no accident. The company wanted to reflect the growth of multi-device usage in car shopping.
And, of course, Autotrader’s signature orange still has a place in the company’s new look.
"This new logo visually represents our role in the car shopping process — Autotrader is the guiding force that leads consumers to the vehicle that's a perfect match through an experience that's personal, immersive and surprisingly enjoyable," said John Kovac, senior vice president of marketing for Cox Automotive, the parent company of Autotrader. "We've come a long way since our brand was born 16 years ago, and this new identity perfectly captures that journey by giving a subtle nod to our history while literally pointing forward toward our future."
The new logo will also soon hit the racetrack, as Autotrader and Team Penske will debut a new paint scheme for Joey Logano's No. 22 Ford Fusion at the Ford City 500 in Bristol, Tenn. on April 19.
"The new identity evokes a fresh optimism and confidence that speak to the company's passion for cars," says Michelle Matthews, partner, Lippincott. "As important, the design also represents the journey — the possibilities that propel a car buyer along the exciting road to finding the right car."
Digital Recognition Network has a busy week ahead during the North American Repossessors Summit. From highlighting its new technology to the latest metrics about what license-plate recognition technology can do to push revenue higher, DRN chief executive officer Chris Metaxas gave Auto Remarketing some details in advance of when more than 600 repossession agents gather in the Lone Star State for the three-day event.
“Our goal is to help affiliates make more money and help lenders reduce risk,” Metaxas said. “Our heart has always been in trying to do the right thing. Year-over-year, whether some people believe it or not, we’ve been proving that and proving ourselves to our affiliates to where a lot of people out there count on DRN.
“We just hope some these new initiatives we are taking really make a difference so we can matter even more to these folks. That’s really what it’s all about,” he continued.
The company recently unveiled its Reaper two-camera and four-camera kits to DRN repo agent affiliates. Metaxas explained these new cameras are completely redesigned as the digital signal processors (DSP) are integrated into the device, rather than the need for what he said affiliates called “the brick,” which previously connected the cameras an agent used.
“It’s the next-generation level of improvement that eliminates the cumbersome DSP that we had and puts all of the intelligence in the camera,” Metaxas said. “Wiring the camera is easier. Maintenance is easier. We’re real pleased with the hardware technology that this new generation represents.”
DRN mentioned its Reaper camera kits now provide:
• Superior optical character recognition (OCR)
• License plate image capture at up to 120 MPH
• Camera aiming tools for easy set-up
• Low power consumption at <8W average
• Built-in DSP means less equipment in the vehicle
• Easy troubleshooting with diagnostic tools
• Infrared and color images
• Reduce operating costs
The Reaper is accompanied by new software, Car Detector Mobile 6.0 (CDM 6.0), with new features that can allow the agent to aim cameras easily.
Metaxas mentioned these new cameras already have been tested for about a year in the law enforcement community.
“We know its reliability levels are real strong. Its usability is very good,” he said.
Metaxas went on to highlight two elements about the new technology that might be of most interest to DRN affiliates — new payment options and an expanded warranty.
The new Reaper camera kits come with a 48-month warranty, double the length of the previous one. Furthermore, 100-percent financing is available as is up to a $2,000 credit for affiliates to trade in their current equipment.
“The biggest thing we hear from affiliates is things break over time. These cameras are in trucks,” Metaxas said. “We have the ability now to give affiliates greater assurance and lower their cost of ownership.
“Just like when you buy a car, risks go up over time. We’ve taken on more of the burden of the risk by doubling the warranty,” he added.
DRN indicated that a two-camera kit costs $12,988 plus applicable sales tax while a four-camera kit costs $15,988 plus applicable sales tax.
LPR Helping Affiliates’ Revenue Streams
What jazzed Metaxas more than the technology updates is the data DRN uncovered for how LPR helped to increase the revenue for its affiliate network, which currently stands at more than 400 repo agents scanning a minimum threshold of plates regularly.
Metaxas indicated affiliates using DRN’s LPR technology saw completed repossession assignments jump 110 percent year-over-year, meaning if an agency recovered about 32,000 vehicles in 2013, the company repossessed close to 70,000 units in 2014.
The DRN chief executive officer calculated that repo growth meant more than $20 million in additional revenue for affiliates, which also collected close to $5 million in revenue sharing from the company for using the technology.
“We’re talking about a very substantial amount of top-end revenue as a function of being a part of the recovery network,” said Metaxas, adding that some single affiliates have 20 camera kits so “they’re getting big and strong.”
Metaxas went on to mention finance companies also are turning more to DRN for repossession assignments. He noted DRN’s “hot list” now is at an all-time high with more than 142,000 vehicles currently in need of being repossessed.
“Banks are expecting their return that we’re delivering,” Metaxas said, emphasizing that DRN, its providers and affiliates accounted for nearly 7 percent of all repossessions industry-wide a year ago.
“The lenders are telling us resoundingly that they can’t meet their portfolio objectives without us,” he continued. “Because they’re using us, banks are writing more loans. Consumers are getting more cars. Auto financing is at an all-time high because DRN and its affiliates are contributing substantially to the risk reduction necessary to having a healthy lending environment.”
Additional Component to DRN Affiliate Program
Metaxas closed his conversation with Auto Remarketing by mentioning DRN is rolling out a joint marketing and distribution campaign with Clearplan, a mapping productivity solution geared to streamline routes to help repo agents make the best use of their resources.
“It’s designed solely to optimize the efficiency of routes for repossessions,” Metaxas said.
DRN added that Clearplan bolts onto its product, and 60 beta clients already have used the solution. According to Metaxas, “everyone is demonstrating significant gains in a short period of time.”
In an effort to get dealer units seen in as many places as possible, Dealertrack Technologies introduced new-vehicle pricing and multiplatform listing tools for its Inventory+ solution on Monday to help dealers better manage new-model and wholesale inventory.
The company explained the new Multiplatform Listing tool can allow dealers to launch wholesale vehicles on all major online auctions — at the same time — from one platform. When a vehicle is sold on one of the auction sites, the Dealertrack tool can work seamlessly to remove the unit from all auction platforms, protecting dealers from double selling inventory and incurring associated fines and penalties.
Dealertrack indicated this tool also can deliver integrated access to wholesale books and transactional values to assist in pricing vehicles to a specific market and maximizing profitability.
“These new inventory management tools expand the capabilities of our Inventory+ solution to help dealers better manage their inventory, further streamline their operations and be more competitive,” said Robert Granados, senior vice president and general manager of inventory at Dealertrack.
“Speed to market, accuracy and efficiency are key components in automotive retailing, and the combination of these new tools and the powerful Inventory+ solution provide exactly that,” Granados continued.
The company went on to mention Dealertrack’s Inventory+ New Car Pricing tool can enable dealers to more efficiently price new models using all of the latest manufacturers' incentives and rebates, as well as competitive market data.
In addition, this tool can support making pricing changes in bulk down to the vehicle’s model and trim levels, reducing the typical repricing process by days. New-vehicle pricing updates can also be instantly synchronized with the dealer's website inventory listings.
Dealertrack Inventory+ is an innovative and comprehensive inventory management solution that can deliver a comprehensive view of data insight and analytics with rich mobile and workflow capabilities for dealers.
For more information about Dealertrack’s Inventory+ and these new tools, visit www.dealertrack.com/inventory+.
Carfax announced Wednesday it’s now able to provide instant automobile accident reports. This is done by utilizing Crashdocs.org, which helps provide crash reports from police departments all over the United States, with the number of agencies providing data growing. According to the company, insurers, lawyers and other such interested parties can order the reports and view many of them immediately, with no added convenience fee.
“Our insurance company uses Crashdocs exclusively and they have exceeded our expectations,” said Eugene Clauser, the claims manager at National Heritage Insurance Co. in Illinois. “The website is easy to use and one of the things we like best is that a number of the reports we purchase are available right away. That is invaluable to us in expediting claims and keeping our insured satisfied. Plus, the Carfax staff is helpful anytime we have a question. It’s an outstanding service.”
The aim of the service is to save customers time from having to contact individual police departments or pay extreme fees to access the crash reports. According to Lindy Newsome, the police support specialist with the Billings Police in Montana, the benefit of Crashdocs is experiences on both sides of the situation.
“The Billings Police Department has distributed accident reports online through Crashdocs the last four years with great success,” Newsome said. “We’ve virtually eliminated the need to mail out reports, a significant cost savings when compounded. Just as important, we save loads of time without any mail requests coming in and very few window requests to fulfill. The convenience of downloading a crash report at work or home is a real benefit for insurance companies and our constituents.”
More information can be found on the Crashdocs website.
AutoAlert announced Monday that it has integrated Experian Automotive’s AutoCheck vehicle history reports with its Deal Sheet function.
This integration allows single-click access to the vehicle history reports, providing vehicle conditions within moments to help appraisers and other users save time and potentially money by being able to identify whether or not there are any prior accidents, damage or title issues that might affect vehicle value.
AutoAlert also announced two other changes to its Deal Sheet, including vehicle and fuel consumption comparisons as well as email template tools. The latter facilitates follow-up communications for staff.
More information about the tool and its components can be found on the AutoAlert website.
Dent Wizard International announced Tuesday that it has added Smart Claims from Ding Shield, an application designed to allow dealership customer service personnel or customers themselves to file and follow Ding Shield claims electronically.
Ding Shield, a service plan that covers small to medium area repair techniques (SMART) and paintless dent repair (PDR), utilizes Smart Claims as a method for users to file a claim from any mobile device. The application allows users to identify damaged areas, submit pictures, while also providing a toll-free number for any other issues or inquiries.
Aaron Cooper, the national director of F&I at Dent Wizard, believes that services such as the one his company offers are well complemented by the ability to utilize remotely.
“Smart Claims addresses the evolving needs and desires of the new generation of car buyers, the tech-reliant millennials,” Cooper said. “And it’s perfect for the growing use of tablets in today’s dealerships.”
The Smart Claims app can be downloaded from the App Store or Google Play by searching “Ding Shield.” Claims can also be filed at the company’s website.
Auto/Mate Dealership Systems announced Monday that it has integrated its dealership management solution with VinSolutions’ marketing solution platform.
Dealers utilizing both systems now can view real-time data updates to assist with their productivity, customer service and customer retention.
“Our Open/Mate program provides vendors like VinSolutions with a low-cost, easy integration process,” said Mike Esposito, Auto/Mate Dealership Systems’ president and chief executive officer. “The result is increased utility of both systems by dealer employees, a necessary precursor to maximizing the efficiency of any technology.”
Sean Stapleton, the vice president of sales and marketing at VinSolutions, commented on the value of instant access to information when dealing with customers.
“We are extremely excited about this industry leading integration; customers have been asking about this for year,” Stapleton said. “The ability to integrate our platform with a dealers’ DMS is critical for improved sales efficiency and decision-making. Having real-time access to customer, vehicle and deal information empowers dealership employees to better serve their customers and manage opportunities through the complete lifecycle of ownership.”
Digital Recognition Network is hosting three opportunities through free webinars to learn more about the four ways recovery efforts can be enhanced through DRN’s location reports that now contain phone numbers.
During a 30-minute webinar, DRN director of collections and recovery Marc Ahlers plans to explain how the solution is capable of:
— Improving first-contact resolution rates
— Reducing average handling time
— Making right-party contact
— Increasing revenue per call
“Your stale comp report is a thing of the past,” Ahlers said. “Use location reports to get rank-ordered phone numbers that lead to positive resolution.”
DRN is offering this free webinar during three different sessions:
—Feb. 16 from 1 to 1:30 p.m. EST
—Feb. 18 from 1 to 1:30 p.m. EST
—Feb. 20 from 1 to 1:30 p.m. EST
"Simply click the date that works best," Ahlers said. "Thank you and I look forward to demonstrating our new product."
VinSolutions announced recently the release of VinConnect Mobile, a customer relationship management solution that can be accessed via a mobile device, allowing dealers to stay connected to their customers.
“Our focus for 2015 is really all around the mobile experience, and VinConnect Mobile is our contribution to the revolution,” said Lori Wittman, VinSolutions’ general manager. “With the new mobile app, dealers can connect faster and easier with the ever-changing car shopper in today’s fast-paced world.”
Created based on dealer feedback on the VinConnect CRM, the new mobile version allows dealers to connect to their customers from anywhere they may be, with the aim at speeding up the entire purchasing process.
According to the company, VinConnect Mobile’s features include:
- Customer I.D. Scanner: Dealers can scan a shopper’s driver’s license right from their smartphone to quickly and accurately capture customer information. The scanner initiates new records, checks for duplicate contacts in the database and allows immediate updates to stored information.
- Mobile Call Tracking: VinConnect Mobile records and logs all outbound customer calls to holistically track the sales process, all with a dealer’s existing phone system. Calls made from a personal mobile device still come from the dealership phone number.
- Vehicle-of-Interest Scanner: Dealers can scan the VIN of any vehicle to easily capture the customer’s vehicle of choice — right on the lot — helping to speed up the sales process.
“VinConnect Mobile gives dealers a truly competitive advantage in the market,” said Sean Stapleton, vice president of sales and marketing at VinSolutions. “We’re helping dealers extend their CRM to where they are, and most importantly, where their customers might be – on the lot, in the showroom or in the service lane.”
More information on the company’s offerings can be found on the VinSolutions website.
AutoSaver.com revealed its two newest active market appraisal tools on Monday, MarketVUE and TradeVUE, aimed at increasing conversion rates by offering price reassurance to customers.
The tools pull credible, third-party data from the dealer’s geographic area to provide real-time market data from all competing vehicles within a defined market along with the dealer’s inventory supply along with demand and pricing analysis. Enrollees in the MarketVUE program will be able to view other dealers’ stock and compare where its own prices fall within local averages.
“Our unique price reassurance program reduces sales negotiations and allows for a meeting of the minds between dealer and customer,” said Derek White, chief executive officer of AutoSaver.com. “We understand that most buyers require validation before they make a purchase. Why not provide that validation on the dealer’s own website, rather than risk losing the customer to another site that offers it?”
AutoSaver.com’s other tool, TradeVUE, provides an instant vehicle appraisal for customers on the dealer’s website. Customers can appraise their vehicle in three simple steps while AutoSaver.com compiles the information and sends it to the dealer to prepare for a follow up.
“Our TradeVUE is a great way for dealers to provide value to their website visitors while also collecting pertinent contact information within a low stress environment,” White said.
More information about these two products can be found on AutoSaver.com.
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