Pre-owned vehicle business is today’s emerging and promising sectors in the auto industry. In India, this market is expected to reach $66 billion by 2022 due to various factors including rising urbanization, growing population, affordability, enhanced after-sales service and increased penetration of online platforms. At the global level, China’s used car market showed 19.3 percent annual growth rate in 2017 by selling 12.4 million secondhand vehicles.
Need for used car dealer management system
The increasingly high volume of vehicle sales and industry-specific requirements pose unique challenges. Along with the importance of the trust factor, the segment not only deals with finding quality cars and get the prices but also fixing the vehicles and make them more valuable. Thus, the sector demands used car dealer management software which is required for a range of factors.
• Product Catalog Maintenance
Automotive dealerships can provide complete vehicle information online including description, photos, quotes, etc., for their customers who can then take an informed decision. Further, the dealership can extend this platform to make a sales offer.
• Customer Relationship Maintenance(CRM)
The DMS can take care of customer relationship management by tracking and analyzing sales and assist customer segmentation based on financial information to make marketing decisions. It will maintain customer history and preferences – a few crucial parameters that can be used to enhance customer experience and relationship further.
Car dealer software can be a vital factor for managing spares, scheduling appointments electronically and pre-delivery inspection by capturing real-time data to ensure the availability of resources and timely execution of processes.
•Setting Car Pricing
Integrated DMS accurately calculates all the involved costs including cost for smartening up the vehicle, transportation, storage, taxes, etc. to give the optimum car pricing.
Benefits of integrated DMS
Today's dealer management system providers take the help of the evolved technologies like cloud, IoT, Big Data and Business Intelligence while designing their DMS to offer a range of benefits.
• Increased Productivity
The system ensures high productivity by accessing and analyzing real-time data to ensure right spares are available at the right time.
• Enhance customer experience
Easy access to the required information through multiple platforms including online and mobile devices saves time and efforts in today’s fast-paced life. Planning and availing various services at individual’s convenience and preferences along with the right offers are the key factors for customer satisfaction, long-term relationship and repeat business opportunities.
• Enabling businesses to take crucial decisions
Vital real-time information at the fingertips enable to derive and implement time-sensitive and crucial business decisions.
• High Profitability
Along with minimizing various costs and optimizing the pricing, DMS helps to customize dealer network based on the offered services, distribution and profitability that enable retaining the best dealerships. Thus, in the long term, it proves to be highly cost-effective and profitable.
With the promising growth of pre-owned vehicle business, there is an increasing need for a robust used-car DMS. Excellon Software is one of the leading providers of service management software in India for the used car sector. Implementing DMS is the solution to take care of the complexities of increasing business volume yet stay ahead of the competition. It is undoubtedly the key to success in today’s world!