Pearl 360 system designed to bring back pre-owned profitability
DALLAS, TX, March 13, 2018, — Pearl Technology Holdings, LLC, (Pearl) (www.pearlsolutions.com) today announced it will introduce a new pre-owned marketing platform at this year’s NADA in Las Vegas. Pearl 360 (www.pearlsolutions.com) will focus on pre-owned profitability with innovative “consumer-centric” vehicle sourcing tools and targeted and efficient marketing modules. The platform seamlessly incorporates and utilizes 6 of Pearl’s most powerful tools; Propensity360, VehicleXchange, ShowroomXpress, Trade-In Concierge, RPM and Pearl Proximity. It is also automated and mobile, providing dealer clients flexibility and constant consumer engagement.
“The elephant in the room in the automotive industry is profitability,” said Bruce Thompson, Pearl CEO and Founder. “According to NADA, the average net profit on a pre-owned vehicle in 2017 was $116 and down more than 30% over the last 3 years. The treadmill dealers are on is simply unsustainable and if things remain status-quo, many dealers won’t be around in the next 10 years. Everyone is making money except the dealer, and that has to change,” Thompson continued.
Pearl 360 focuses on the two primary pillars of auto retailing; sourcing inventory and turning it quickly for a fair profit. The platform establishes multiple “direct from consumer” sourcing channels that are automated, constant and mobile. Once vehicles are sourced, they are immediately marketed to the customers most likely to buy them; both from the dealer’s database and from the market.
“We feel strongly that dealers have been led down the wrong path over the last several years by many of the vendors they are paying. We intend to show them there is a much better way to acquire and retail pre-owned vehicles. Our objective is to turn the tide on margin compression and declining profits,” Thompson stated. “Pearl Pre-Owned is the most powerful tool we’ve ever built and is the pinnacle of our development efforts over the last 6 years. It incorporates every tool we have at Pearl and the product will be everything as advertised for our dealers.”
The system utilizes exact payment matching technology and intelligence to match vehicles to the consumers that can afford to buy them. It goes many steps further to understand when a customer’s 10-year historical buying patterns indicate they are likely to buy in the next 120 days.
“The bottom line is we have the intelligence to know who is likely to buy what and when they are likely to buy it. Sourcing directly from consumers saves the dealer a fortune in fees. Knowing exactly who to market to means that we don’t have to cast the traditional wide advertising net to find them. As a result, hundreds of thousands of dollars, if not millions, can be saved per year,” Thompson stated
For more information visit www.pearlsolutions.com, call 888.339.1116, or stop by booth # 4016C at the NADA 2018 Show, March 23-25, in Las Vegas, NV. To sign up for a demonstration click here: http://www.pearlsolutions.com/nada2018/
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About Pearl Technology Holdings, LLC:
With the formation of American Auto Exchange (AAX) in 2001, auto industry entrepreneur Bruce Thompson became widely known as the creator of the “used car inventory management” space. He went on to start RedBumper, LLC in 2010, which is also primarily focused on “used car inventory management.” RedBumper’s intellectual property was acquired by CDK Global in September 2014. At that time, Thompson formed a new holding company, Pearl Technology Holdings, LLC, created to be an automotive technology incubator. The company’s mission is to create and deliver innovative new tools that have an impact on the industry. Pearl has launched seven subsidiaries: NewCar IQ, LLC; VehicleXchange, LLC; eCarTag, LLC; Trade-In Concierge, LLC, Pearl Proximity, LLC, Pearl Pre-Owned, LLC and ShowroomXpress, LLC. NewCarIQ, LLC was acquired by CDK Global in January 2016.
Director of Marketing
Pearl Technology Holdings, LLC