Two of the new initiatives, NewCarIQ™ and CarOffer™, are already in the market today and a third, VehicleXchange, will be released in the 3rd quarter. We couldn't be more excited and it is a very busy time for us, said Thompson.
(PRWEB) July 23, 2014
The executive leadership team behind RedBumper™, including industry entrepreneur Bruce Thompson, founder of RedBumper and American AutoXchange (AAX), has officially launched Pearl Technology Holdings, a newly formed holding company that will incubate, develop and distribute multiple software initiatives across different sectors of the automotive industry in 2014. Pearl Technology Holdings will aim to provide truly 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 Technologies we have added significant capital and infrastructure to build and develop some incredibly powerful new tools. 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,” said Thompson, CEO of the new venture.
“Pearl has already formed partnerships with some of the largest companies in the United States. As we build these tools, our partners will have input into their design and will also help to market and distribute them. Two of the new initiatives, NewCarIQ™ and CarOffer™, are already in the market today and a third, VehicleXchange, will be released in the 3rd quarter. We couldn't be more excited and it is a very busy time for us," said Thompson.
Based in Dallas, Texas, Pearl Technology Holdings launched its first initiative, CarOffer™ earlier this year. CarOffer™ is a mobile platform that gives dealers the ability to acquire used car inventory directly from consumers. Consumers wishing to sell their car 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™ franchise dealer in their local market. Consumers typically receive their offer within 2-3 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. 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 will address one of the biggest challenges car dealers face everyday; the pricing and stocking of new car 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. 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. A dealer can now literally price and syndicate hundreds of new cars with calculated incentives in less than five minutes”, said Thompson.
NewCarIQ™ is the first of its kind to bring sophisticated and comprehensive inventory management analytics to the new car space. It will act as an enterprise-reporting dashboard for both individual dealers and any size groups.
For more information about Pearl Technology Holding Company and the upcoming initiatives, please visit http://www.pearltechnologyholdings.com.
About Pearl Technology Holdings, LLC
The company is based in Dallas, Texas with an executive team with over 60 years of combined experience in all elements of the automotive industry. The company aims to provide unique and innovative software solutions that streamline both dealer process and performance across a wide spectrum of profit centers and technologies.