I would like to say that my blog posts have been slow in coming because the startups have been slow, but there were three interesting new companies and deals announced this week (probably a lot more) so I will get started.
Dealerskins, a Dominion Enterprise company, partnered with DataOne to provide a pricing tool to dealers let dealers know how their cars a priced relative to the competition within a 100 mile radius. If the price is out of line with the market an email is sent to the dealer. One way the partners see this being used by dealers is by making sure the cars are priced less than competitors and show up first on Autotrader.
I think this would actually be more useful as an inventory-buying tool than a price-setting tool. To a certain extent, most dealers price on a cost plus basis, as opposed to market pricing. Depending on how the product works, if it’s possible to add a number of cars to the list and see the average market price, it would be easy to compare market sale prices to auction buy prices and spot the best profit opportunities. This paired with an inventory optimization product like Point could be a great combination for dealers.