On this edition of Inside Automotive, we’re pleased to welcome back Hugh Hathcock, Owner and Founder of Velocity Automotive, and Kalah Hathcock, Executive Vice President also for Velocity Automotive. Today, the pair discuss how car dealers can build the value of every vehicle with VelocityWindowStickers, a solution that generates the original build information for every used car that comes on the lot.
Originally, Hugh explains, VelocityWindowStickers, was a large part of the overall VelocityEngage portfolio solution. Over time, more dealers expressed interest in buying this solution as a stand-alone product due to the fast-paced and competitive nature of the used car market. Dealers must land on the right number for a car at auction, or for a trade-in, as quickly as possible. VelocityWindowStickers helps car dealers achieve this by granting access to the original OEM window stickers directly from a dealer’s inventory management and merchandising tools.
Additionally, providing this information to customers during the car-buying journey is incredibly advantageous. During deal negotiations, VelocityWindowStickers ensure a higher level of trust and transparency for all parties involved.
In fact, Kalah explains that because pulling window stickers through other providers is so costly, some dealers only do it under special circumstances. With VelocityWindowStickers, dealers pay a fixed rate based on their individual needs and get their internal processes firing on all cylinders.
Fast decisions have to be made at auction as well. Some dealer groups have multiple managers doing multiple auctions every day. Usually, these managers only have access to a small selection of window stickers from their brand.
“To be able to have all this information right inside those auction sites, or their inventory management tool is really the game-changer,” says Kalah. “[VelocityWindowStickers] eliminates all that trouble, all that time when you have to be fast at the auction.”
Hugh adds, “We made this really easy for the dealer personnel to access. That’s probably one of the key selling points…we can put [VelocityWindowStickers] in vAuto, we can put this in anything, and [dealership personnel] can scan the VIN; up pops everything just that quick.”
With VelocityWindowStickers, car dealers are not required to sign long-term contracts with Velocity platforms. Hathcock explains that car dealers prefer to operate on a month-to-month basis and that his company has done things that way from the beginning.
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