DOUBLING USED VEHICLE SALES AND INCREASING PROFITS OF CURRENT DEALERS
LAS VEGAS, NADA CONVENTION BOOTHS # 4321 and # 5563, January 31,
2004 - Today, Kelley Blue Book announced that it will acquire Minneapolis
based dealer solutions companies CDMdata and CDM Dealer Services™.
Through this acquisition, Kelley Blue Book will bring under its
trusted brand the only single source solution for used vehicle sales
and inventory management and the most advanced used vehicle marketing
technology available today.
DigitalLot enables dealers and other organizations with large inventories
to quickly, accurately and efficiently sell more vehicles in a shorter
period of time. Because it is a single source solution, the time
it takes to book-in and market a used vehicle is dramatically reduced
from more than 25 minutes to about five minutes. With increased
accuracy and efficiency, dealers currently using the DigitalLot
Solution are on average selling 10-20 more used cars a month and
increasing profits by $10,000-18,000 a month.
Currently 500 U.S. dealerships are receiving the benefit of the
DigitalLot Solution, a superior, one-button, easy-to-use combination
of both hardware and software. The complete DigitalLot Solution
includes the iTab™ hand-held pen tablet, which comes preloaded
with the DigitalLot software program and a Web based component called
AutoOffice™. It marks the first time dealers can take advantage
of a single package solution rather than work with multiple technologies
and vendors to manage a vehicle throughout the sales cycle.
"Kelley Blue Book works with over 11,000 dealerships today.
During the development of our latest release of KARPOWER®, we
worked closely with dealerships and found that many of them had
as many as four individuals entering used car data into several
different applications," said Mike Romano, director of dealer
strategy, products and services. "With that process, uploads
to the Internet were not consistent, and the overall process was
inefficient. With the addition of the DigitalLot Solution to our
product mix, Kelley Blue Book now offers any size dealership a solution
that simplifies the inventory management process, ensures accurate
real-time inventory posting to the Web and improves the car buying
process for their consumers."
"Dealers understand that consumers go to their Web site to
research available inventory and expect to find timely and accurate
information," said Paul Johnson, president, Kelley Blue Book.
"The DigitalLot Solution enables dealers to easily accomplish
the entire process including pictures in a matter of minutes per
vehicle. As a result, dealers will see increased sales and profits,
and a substantial increase in customer satisfaction."
"DigitalLot helped us sell 55 more used cars the first month,
increasing our profit by about $130,000. In 2003 we increased our
profit by well over $1.5 million," said Mark Kanter, Internet
manager at Bill Jacobs Automotive Group in Chicago. "Our dealer
group was struggling to keep our online inventory accurate. The
service company we were using was not providing a service that allowed
us to keep our Web site and other retailing Web sites up to date.
DigitalLot is the best all inclusive solution on the market today."
DIGITALLOT SOLUTION PRODUCTS
iTab - Automotive Inventory Tool
The iTab is a handheld pen tablet that quickly collects and accurately
manages used vehicle data. It is the only all-in-one tablet that
includes a detailed software program, a VIN scanner and digital
camera with the ability to store more than 150,000 vehicle records
and 32 photos per vehicle. iTab's software automatically matches
photos to corresponding vehicle information, eliminating data entry
errors and mismatched photos.
DigitalLot - Vehicle Information Software
DigitalLot software within the iTab captures a very extensive variety
of vehicle information, including VIN information; used vehicle
values; standard, optional and dealer installed equipment, as well
as photos. Currently, DigitalLot includes vehicle pricing and data
from Kelley Blue Book, NADA, Polk and Chrome, updated regularly
to ensure timeliness and accuracy. DigitalLot also has the ability
to create numerous reports, customized buyers' guides and window
stickers compatible with most manufacturer and certified pre-owned
AutoOffice - Web Based Automotive Management Tool
AutoOffice is the online component that captures vehicle information
from the iTab's DigitalLot software and enables dealers to manage
their inventory across a number of online retailing sites in real-time.
Once vehicle data is 'synched' or uploaded from the iTab into AutoOffice,
information can quickly be submitted to the dealer's own Web site
as well as a number of retailing and auction sites simultaneously
with one click. Through this online tool, dealers can control the
online marketing of their entire inventory and update vehicle information
on every Web site in which it is listed with a few mouse clicks.
CDM offers an option to host a dealer's inventory Web page if needed.
AutoOffice can also be integrated into any DMS system so that sold
inventory can be removed or marked 'sold' automatically, ensuring
that consumers only view a dealer's available inventory.
The DigitalLot Solution is also offered as a service through CDM
Dealer Services. Professional employees of CDM Dealer Services will
come to a dealer's lot several times a week and handle the entire
management lifecycle of the vehicle from the time it arrives on
the dealer's lot until the time it is sold. CDM Dealer Services
is currently available in select cities. Future expansion into additional
markets is currently being planned.
Benefits Overview (As reported by current users)
Average time savings with DigitalLot over other products and services
20-30 minutes per vehicle
10-30 percent increase in Internet leads per month
10-20 more vehicles sold each month
$10,000-18,000 increase in profits per month
The most popular program is the three-year lease program currently
priced at $695 per month. The lease program includes the iTab hardware,
the pre-loaded DigitalLot software, the Web based AutoOffice program
and a printer for reports, buyers' guides and window stickers. Dealers
also have the option to buy the entire solution outright. Pricing
for the full service is based on number of vehicles and frequency
of CDM Dealer Service visits.
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Kelley Blue Book is the most trusted vehicle information resource
by both consumers and the auto industry. The company provides research
tools and up-to-date pricing on thousands of new and used vehicles,
including the company's New Car Blue Book Value, which reveals what
a new car is actually selling for. Since 1926, car buyers and sellers
have relied upon Kelley Blue Book for authoritative and unbiased
information to make well-informed automotive decisions. The company
reports vehicle prices and values via products and services including
the famous Blue Book Official Guide(tm), software and Internet site.
Blue Book has been rated the No. 1 automotive information site
by Nielsen//NetRatings as well as No. 1 and first visited automotive
site by J.D. Power and Associates six years running. No other medium
reaches more in-market car-buyers than Kelley
Blue Book , one in every four American car-buyers complete their
research on Kelley
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