CDK Global Adds New Vehicle Inventory Tool to Lineup of Solutions

Post Date: 
10-23-2014

HOFFMAN ESTATES, IL – October 23, 2014 – CDK Global, Inc. (Nasdaq: CDK) has launched NewCar IQ™, a comprehensive new vehicle pricing and inventory management technology solution, exclusively to CDK clients. NewCar IQ is designed to help automotive retailers understand, apply and syndicate manufacturer incentives to their designated online retail pricing sites, determine the most profitable portfolio of vehicles for their store, and forecast sales results.

With NewCar IQ, it is now quick and easy for automotive retailers to manage manufacturer stackable incentives and determine which vehicles will perform best in specific locations. NewCar IQ combines two distinct inventory management methodologies – historical and market data – then layers in details down to the color, make, model and trim to provide accurate pricing, forecasting and stocking recommendations.

NewCar IQ is the result of a strategic partnership between CDK and Pearl Technology Holdings, LLC, which is an automotive technology incubator started by industry entrepreneur Bruce Thompson. NewCar IQ recently won the 2014 DrivingSales Innovation Cup, a dealer-chosen award for “the Most Innovative Solution of the Year”.

“Today, automotive retailers are challenged with synthesizing and applying all of the data available to them,” said Bob Karp, CDK Global’s President of Retail Solutions, North America. “NewCar IQ presents the most compelling new car inventory information to help our clients complete tasks and gain insights, so they can make the best decisions, quickly.”

Beyond pricing and inventory management, automotive retailers also get merchandising tools, floor plan credit management, customizable reporting, forecasting, enterprise reporting and competitor analysis. Embedded into the CDK inventory suite of solutions, automotive retailers will be able to see both single-store or enterprise view to help streamline decision making.

“Dealers have been asking me for the last 15 years why there is not a solution to help them manage their new car inventory,” said Bruce Thompson, CEO and Founder of RedBumper and Pearl Technology Holdings, LLC. “We’ve taken everything we know about building tools for the auto industry and created this phenomenal new car inventory management tool called NewCar IQ. We are excited to work with CDK Global to deliver this solution to the automotive retail market.”

NewCar IQ will help:

  • Determine and syndicate all applicable OEM incentives into a new vehicle’s pricing
  • Provide stocking recommendations (down to the trim and color) based on a dealership’s inventory, historical data and market data
  • Enable a complete view of selected competitor’s inventory – down to the trim level and turn times
  • Price one vehicle, a group of vehicles, or an entire inventory in seconds, syndicating the price to a retailer’s CDK Dealer Management System and websites (including CDK and third-party sites)
  • Identify the vehicles that will begin to carry interest or fall out of an OEM’s grace period
  • Monitor one location or all-store inventories
  • Offer customizable reporting

NewCarIQ is now part of CDK Global’s comprehensive, workflow-driven set of automotive retailing solutions.

About CDK Global

With nearly $2 billion in revenues and more than 40 years of experience, CDK GlobalTM is the largest global provider of integrated information technology and digital marketing solutions to the automotive retail industry and adjacencies. CDK Global provides solutions in more than 100 countries around the world, serving more than 26,000 retail locations and most automotive manufacturers. CDK Global’s solutions automate and integrate critical workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles, with an increasing focus on utilizing data analytics and predictive intelligence. Visit cdkglobal.com.

Media Contact:
Michelle Benko
847.485.4389
mailto:michelle.benko@cdk.com