Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Jim Leman

Jim Leman Writing about dealer operations

Exclusive Blog Posts

Improving Service CX: Dealing with Additional Services

Improving Service CX: Dealing with Additional Services

In our month-long series on improving the customer experience in the service department, we now look at the second-most common issue identified by cust…

MDP 033 | NADA: National Automobile Dealers Association

MDP 033 | NADA: National Automobile Dealers Association

#nada #nadashow #nada2020 #corksoakers Join David & David talking about The National Automobile Dealers Association, The NADA Show 2020 plus The Cat…

MDP 034 | Facebook - Automotive Playbook for Dealers

MDP 034 | Facebook - Automotive Playbook for Dealers

Join David & David talking about the Road Trip to Las Vegas for NADA2020 and Facebook's Automotive Playbook for Dealers. Plus, Laughing Man Cof…

How to Improve the Sales to Service Handoff

How to Improve the Sales to Service Handoff

With fixed ops departments shouldering more of the profitability burden in dealerships, the ability to retain customers is more important than ever. Yet, n…

WEBINAR RECORDING - How to Build a Winning Employee Acquisition Strategy

WEBINAR RECORDING - How to Build a Winning Employee Acquisition Strategy

  If there is a constant in dealerships today, it is that they need to acquire and retain high-quality employees. In this webinar, we will p…

Lotpop Partners with Used Car Sourcing Giant CIA Platform to Match Dealers’ Increased Sales Velocity

OLATHE, KS, March 11, 2019Lotpop, an inventory consulting company, announced today a “marriage” with Competitive Inventory Acquisitions (CIA), a nationwide used-car sourcing service.

By this arrangement, Lotpop ensures its dealers of the replacement inventory they need as Lotpop’s LotStock inventory intelligence tool dramatically lifts their sales volume and velocity.

The CIA Platform uses a customized version of StockWave and combines it with a proprietary platform that analyzes cross-sell market data down to the trim level. The CIA Platform looks at every sale in a given market to spot trends and identify opportunities that the dealership might otherwise miss. 

The company’s proprietary algorithm is used in combination with Lotpop LotStock inventory data, extracted from vAuto, MAX Digital or another inventory-management software tool, to identify the most profitable and fastest turning inventory in the dealer’s market, delivering a consistent 85 percent win rate for cars sourced through CIA’s nationwide buying network.

“We isolate from data and market trends what makes, models, trim levels, years and mileage vehicles historically sell the fastest, based on 14, 45 and 60-day sell rates, for the most profit for dealers using our LotStock tool,” said Jasen Rice, Lotpop founder and chief executive officer.

Lotpop then provides this ‘hit’ list to the CIA Platform team, which then uses these metrics to source vehicles meeting those requirements from its base of more than 200,000 vehicles,” Rice said. “LotStock powered by Lotpop drives the volume velocity and CIA Platform matches that specific inventory within minutes, and handles transportation and recon if desired by our customer.”

“Lotpop redefines how dealers must look at inventory,” said Rice, a former performance manager for vAuto. “Not only is Lotpop’s inventory analysis more robust, but actionable. During weekly calls with our clients, the Lotpop analysis team reviews where Lotpop's industry-leading reports reveal gaps in dealers’ used-car inventory management and sourcing processes to guide them to consider changes to drive peak performance.”

“By taking advantage of our nationwide buying network, even smaller dealerships doing less than 100 used cars per rooftop can compete against the big boys and grow their market share. However, getting the right inventory is only half the battle,” said Joe Machado, chief operating officer for the Competitive Inventory Acquisition platform.

“Dealers must implement and execute all of the velocity principles to win consistently, and that is where Lotpop comes in.  Lotpop’s consulting services ensure that our dealer partners are maximizing turn and profitability. The more cars they sell, the more we can buy; it’s a Win-Win. What’s more, we view our dealers more like partners than clients, which is why we offer territory exclusives and will not work for a direct competitor of the clients we serve,” Machado said.

Due to the large demand for acquisition services, dealerships purchasing fewer than 50 cars per rooftop can only access the CIA Platform if they are an existing Lotpop client. For more information, contact Jasen Rice at Lotpop.com or 314-568-2754.  If your dealership is purchasing more than 100 cars per month, you may contact CIA at 833-242-0007 to see if your territory is still available.

 Unlock all of the community & features  Join Now