Robotics & Automation News

Market trends and business perspectives

How tech innovations are changing the way car dealers operate

To meet customers’ needs and stay at the forefront of the industry, many independent car dealers are looking towards auction software as a part of their business strategy.

This digital transformation can streamline the process from start to finish and is helping to increase the customer base for dealers who are used to a more traditional, but somewhat limiting, operation.

Taking logistical limitations out of the equation means that you no longer must travel to and from auctions with only a hope and a prayer that the perfect combination of buyers and inventory will be available to you on a set day and time.

Improved search strategies
There are many pros and cons of live auctions versus online, and technology is helping to improve both.

As a dealer, or a buyer, you can review a guide on the best classic car options and then use new programming, apps, and websites to elevate your search once you have familiarized yourself with the overall process.

If live auctions are more your speed, that used to mean physically attending the event, which can either limit you, or blow your budget out of the water due to travel expenses.

These days, you can attend a live auction that is halfway across the country as you sit in front of your computer from the comfort of your own home.

Your reach as a dealer is also going to significantly increase since many of these programs will now send you personalized recommendations based off your searches and preferences.

Additionally, the opportunity to attend live auctions online means that you can attend and sift through multiple auctions simultaneously.

Increased safety
There is trust that goes into buying a car at an auction. You eliminate the possibility of being able to conduct a test drive, or even spend any real time with the vehicle before it becomes yours.

With the introduction of technology platforms to this space, you can now review data science ahead of time regarding things like market pricing and computerized damage estimates.

Having this info can help you to make a more informed decision regarding the acquisition of a specific vehicle. Data driven repots are also a huge perk of using an online strategy.

Much of the work regarding research on a particular vehicle backstory has already been done you and you have greater access to the information in an online format than you would have going to check out a car at a lot or auction space.

Increased access
Reimagining how you search for used cars to be sold at auction means a significant increase in your overall network.

By taking advantage of these new online platforms, you are creating an extension of your existing network inclusive of people and places that you otherwise might not have access to.

Virtually introducing yourself to other dealers and buyers gives you an opportunity to forge new relationships on both a global scale as well as a 24/7-time frame.

With many of the world’s marketplaces transitioning to primarily online forums, adding new programs and software to your process might quickly move from being beneficial to being essential.

These programs are designed to be user-friendly so that you experience little to no interruptions as you enter this new online arena.

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