Pittsburgh, PA (PRWEB) August 14, 2009
DealerGenius.com (http://www.dealergenius.com), a leading Inventory Marketplace and Dealer Trade Network, launches full image support for new and used vehicle listings in its dealer-to-dealer Aged Inventory Marketplace that connects dealerships that are buying inventory with dealerships that are selling inventory. Dealers can now include multiple image uploads when listing their specific aged vehicles, whether they are listing vehicles manually by VIN or via a direct connection to their DMS or third-party inventory data provider. In addition, more 2010 models have been added, along with hundreds of used models dating back 10+ years.
"As the Cash for Clunkers program continues to empty vehicle lots, more dealers are turning to online marketplaces like DealerGenius.com to re-stock on new (and used) vehicles," said DealerGenius.com Chief Technology Officer Aaron Holm. "The ability to list more information in the form of pictures of the specific vehicles adds quality to the listings and a comfort level for buyers of inventory." He continued, "While many dealers are looking to re-stock on the new vehicles they've sold, it is important to note that there are still 45+ day-old units that dealers need to move." "DealerGenius.com is a fantastic solution for dealers to get exposure for their aged new and used vehicles before taking the time- and cost-intesive step of taking them to auction."
Created by industry professionals who saw a more efficient way for dealers to buy, sell and trade inventory, DealerGenius.com was founded in response to the buildup of vehicle inventory caused by the credit crisis facing American Car Buyers, and the resulting critical Aged Inventory issues that are facing a growing number of new and used vehicle dealerships. Automobile Dealerships set preferences based on which makes and models they are buying and selling, and whether they are interested in new or used (or both) vehicles. Sellers are able to list their New and Used Aged Inventory either by VIN or via direct connection to their DMS, and Buyers can browse those listings of hundreds of dealers throughout the country. Buyers and Sellers are also automatically matched with dealers across North America who are selling what they want to buy, and buying what they want to sell.
The problem of Aged Inventory is the #1 cause of the recent upsurge in dealership failure and closure. As buyers become less and less able to secure the necessary financing to make vehicle purchases, Dealership inventory builds, increasing the finance charges and ancillary fees associated with keeping vehicles on dealer lots. In addition, the recent Manufacturer-driven closure of many dealerships is in part a response to dealers who did not adapt their inventory to meet the needs of their customers. The simple fact is that customer demand is not constant in varying markets. Some $280 billion of U.S. vehicle inventory sitting on dealership lots right now is in greater demand at another dealer. The mismatch between the supply and demand of new and used vehicles means that a car or truck that could sell at one location in 15 days may sit for 180 days on another lot. This inefficiency, along with a decrease in viable vehicle buyers, causes an increase in operating costs that results in the heavy financial losses currently plaguing the auto dealership industry. Coupled with increased Manufacturer sensitivity to sales volume, Dealers simply cannot continue to afford to have vehicles on their lots that don't sell, making it more important than ever for them to stock only the vehicles they know they can move.
David Schapira, DealerGenius.com CEO, commented, "Our goal is to help dealers, especially in these challenging economic times, manage their floorplans more effectively by providing them with access to a network of dealers who are buying and selling inventory. For example, a Chevrolet Dealership in Florida might have a glut of 4WD vehicles that are not in demand in their area. Finance and upkeep charges may cost that dealer thousands of dollars every month. At the same time, a dealer in Michigan or Colorado may need to re-stock on 4WD cars and trucks to better meet the demand of their customers. The Florida dealer can list those aged units, either by VIN or via a data feed from their DMS, for dealers all over the country, including the Colorado and Michigan dealers in this example, to browse and buy. In addition, the Michigan or Colorado dealer can post their buying requirements on the website and DealerGenius.com will automatically notify, via e-mail, dealers who match their requirements, like the Dealer in Florida. The Florida dealer can do the same, and be connected with a network of dealers who want to buy what they are selling. Also, both the Buying and Selling Dealers can save hundreds, sometimes even thousands, of dollars every month by avoiding the costs and hassles of physical auctions and brokers. DealerGenius.com (http://www.dealergenius.com) is the most comprehensive, cost-effective, yet easy-to-use solution to Aged Inventory Management available today."
DealerGenius.com is a new idea that utilizes the real time benefits of matching specific buying and selling requests via instant e-mail communication. A dealership that needs to buy or sell a certain make or model of vehicle can post their request to the site and in minutes (setup consists of a simple two-minute form) can find dealers across the country that meet their needs. They can list their specific Aged Units for Buyers to browse 24 hours a day, 7 days a week. DealerGenius.com also provides shipping services to help complete any vehicle trades in a timely manner. Car, truck and SUV inventory can be moved quickly from one dealership to another, helping each save time and make better use of their operating capital.
Mr. Schapira added, "Dealers are being put out of business by their Aged Inventory, and we are proud to be able to provide a service that will help them avoid some of the pitfalls of doing business in a troubled credit market. If Dealerships, as a group, can begin reducing costs and losses by taking control and doing a better job of managing their inventory, they can weather this storm and put themselves in a much more competitive position once the credit market thaws. The dealers who learn to be more efficient now will not only survive, they will emerge as tomorrow's leaders of their industry."
DealerGenius.com is a Vehicle Marketplace and Dealer Trade Network supplier founded by Auto Industry Professionals. The creative and management team have over 40 combined years in the Auto Industry, working with nearly every foreign and domestic brand, including, General Motors (Chevrolet, Buick, Pontiac, GMC, Saturn and Hummer), BMW, Kia, Rolls-Royce, Land Rover, Chrysler, Dodge, Jeep, Ford, Honda, Hyundai, Toyota, Mercedes-Benz and Audi. In addition, they have provided creative and marketing services for some of the largest and most respected organizations in the world, including Pepsi, Coca-Cola, Western Union, Tropicana, Frito-Lay, Quaker Oats, Gatorade, General Motors and the University of Pittsburgh.
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