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CarStory Enhances Predictive Capabilities for Inventory Intelligence Product Suite to Maximize Profitability for Automotive Dealers

December 18, 2018

AUSTIN, Texas--(BUSINESS WIRE)--Dec 18, 2018--CarStory, the automotive AI platform, today announced significant predictive enhancements to its suite of AI-powered, Inventory Intelligence products, used by dealers to make better vehicle buying and selling decisions.

Great decisions start with great data. Unfortunately, over 27 percent of vehicles listed for sale have at least one major error, such as incorrect trim, transmission or missing high-value features. As a result, cars get mispriced or misrepresented, costing dealers thousands of dollars in lost leads and sales.

The newly released VINspect TM feature solves this problem by automatically identifying vehicles with merchandising errors. For example, CarStory found more than 300 errors for a top Ford store with over 450 vehicles in inventory.

“Better data leads to better decisions,” said Chad Bockius, President and CPO, CarStory. “Without an accurate view of a vehicle, it’s impossible to price, market or sell it effectively. VINspect TM is the first feature to use the power of AI to find issues and immediately alert the dealer so they can take action.”

The next challenge is to understand the health of the lot. With CarStory’s newly released, patent-pending LotIQ TM capability, dealers can instantly pinpoint the cars that need attention and take action. The result is dealers spend less time and effort analyzing the lot and can direct those efforts to sell more cars.

“CarStory is the only platform that tells dealers when every car will sell and for how much. With the release of VINspect TM and LotIQ TM, the results and the experience is better than ever,” continued Bockius.

To learn more, please visit CarStory.ai.

About CarStory

Used by over 16,000 dealers, CarStory combines artificial intelligence (AI) and the industry’s largest database of inventory and shopper insights, to help dealers sell more cars and make more money. As the pioneer of Inventory Intelligence, CarStory’s predictive AI sets a new standard for transforming analytics into answers. To learn more or sign up, visit: www.carstory.ai.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181218005104/en/

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Michael Kellner

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KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE AUTOMOTIVE RETAIL SPECIALTY GENERAL AUTOMOTIVE

SOURCE: CarStory

Copyright Business Wire 2018.

PUB: 12/18/2018 07:00 AM/DISC: 12/18/2018 07:01 AM

http://www.businesswire.com/news/home/20181218005104/en

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