VAuto unveiled new functionality designed to solve another pain point for franchise dealers: managing increasingly complex new-vehicle incentives. The feature is meant to make it easier for dealers to apply VIN-specific incentives at scale in its new-vehicle inventory-management and pricing solution, Conquest. Cox data show that some OEMs have issued approximately 86% more VIN-specific incentives this year compared to last—and the model-year changeover is fast approaching.
“With rebates and incentives back on the rise and becoming more complex, dealers are finding it increasingly challenging to efficiently apply the right ones for each vehicle,” said Derek Hansen, vice president of operations, Inventory Management Solutions, at Cox Automotive. “And since the Fed’s big cut isn’t expected to reduce auto loan rates for quite some time, dealers need to be especially vigilant about pricing and merchandising their inventory correctly to attract today’s car shoppers and close those deals.”
Th functionality is timed for the model-year changeover, as dealers will be looking to clear out current new-car inventory in preparation for 2025 models to hit their lots—a task the data show might be challenging. The automotive market overall is showing signs of weaker sales, despite OEMs offering more competitive interest rates and generous cash offerings. According to Cox Automotive data, average blended incentive spend was $4,838 in August, up approximately 5.8% from the prior month. But average days in inventory is up nine days year-over-year.
More About Conquest Solution
Powered by live market data, Conquest gives dealers a new-vehicle inventory management solution that enables them to price vehicles correctly, optimize merchandising, and compete effectively in today’s market.
For rebates and incentives in particular, Conquest is designed to simplify the increasingly complex world of applying the right offers. Many OEMs now extend multiple offers on each vehicle, including VIN-specific incentives, each having their own set of rules. Without automation, dealers are challenged to apply the right offers and merchandise vehicles effectively. Conquest is meant to bring clarity to the chaos and make it easier and more efficient for dealers to price and promote their vehicles accurately.
For VIN-specific incentives in particular, the offerings reside in dealers' own dedicated section on the Conquest dashboard. Dealers have the option to include or exclude this type of incentive, then let Conquest do the rest. With the feature selected, Conquest will cross-reference the list of compatible vehicles and compatible programs and syndicate offer information to listing sites for maximum effectiveness.
To learn more about Conquest, visit vAuto.
