AutoSalesVelocity
The Power of Data Science to the Automotive Industry

The automotive industry, in its true sense, is more than just selling vehicles; it's about creating a lasting impression and seamless experience for buyers, dealers, and vehicle manufacturers. To fulfill this objective, dealers and manufacturers need to move over arbitrary approaches and leverage data science to make the automobile ordering process more customer decision driven.

AutoSalesVelocity's modern data science and patented software enhance visibility into the vehicle inventory data to help automotive dealers and manufacturers make informed decisions to improve efficiency and consumer experience while saving cost and time.

AutoSalesVelocity supports the overarching goal of every dealer - ordering the fast-turning and highestgrossing vehicles so that they don't have to sell them at a discount or keep them in inventory for long.

"Our software suite brings data together in real-time, helping automotive dealerships, service centers, and manufacturers optimize inventory and turn cars faster," says Dave Smith Jr., CTO, AutoSalesVelocity.

Data Science for an Effective Vehicle Distribution

Traditionally, the automotive space has a flurry of software products promising to drive up used vehicle sales. But, AutoSalesVelocity held a vested interest in the 'new-vehicles' side of the business.

"We are not a software company trying to be an automotive company, but a true automotive company with its software as a service"

Two decades ago, when David Smith, the CEO of AutoSalesVelocity, started the company, his vision was to improve vehicle distribution efficiency and retail dealer operations by helping them to choose the right inventory. With a team of talented software engineers, the firm rolled out its software and collaborated with small dealers until they scaled up and began working with renowned dealerships, dealership groups, and manufacturers of every size.

The founder's philosophy and modern data science merged to address a major gap in the industry where car dealers and dealership groups of new vehicles struggled with siloed manufacturer data from disparate and outdated systems. On a daily basis, dealerships also need to keep track of information such as the number and mix of vehicles on their lot, in transit, on order, unscheduled at the manufacturing plant, and in their order bank. It is difficult for dealers to bring them all together.

The predominant focus of AutoSalesVelocity was to bring together data from five to ten different systems into a central database and enhance decision-making of new vehicle ordering for dealers.

Redefining Inventory Management

Dealers always have this question of how to sell the same number of cars with fewer vehicles in stock. AutoSalesVelocity's software provides the answer.

Its flagship SaaS product, the new-vehicle ordering service, and tools like Lot Manager are designed to manage client's inventory and improve the bottom line by allowing them to have inventory data at their fingertips. The software suite gives them a holistic picture of the pipeline and ensures they fill all the gaps in ordering to have an inventory that matches customer preferences.

The AutoSalesVelocity team also enables dealers to make better decisions in their wholesale meetings. The software helps dealers arrive at the right number of cars of a particular make and model to be kept in stock in a particular month. For instance, when it is the middle of the model year for a specialty performance vehicle like the F-150 Raptor, it is easier to come up with a monthly estimate. But it gets harder to ascertain the optimum number to be kept in stock to ensure supply until the new model year commences.

Relevancy at All Times!

Recently, AutoSalesVelocity worked with a car dealership to centralize inventory information to get their customers' orders scheduled. The client had to rely on nearly five to ten manufacturer systems and countless email communications with the zone reps for information. After spending sufficient time understanding their requirements and data, AutoSalesVelocity rolled out a system that could collate data, including order information, orders online, sold orders, and unscheduled customers. With the system, the dealer no longer missed out on any relevant information or deadlines or had any orders held up for silly reasons and saw a drastic improvement in their bottom line.

Likewise, during the pandemic, when everything changed overnight, it was no longer about balancing the inventory for dealers but getting orders scheduled. AutoSalesVelocity's software enabled scanning through the dealer's unscheduled customer orders daily and comparing them to a large set of rules curated from emails from manufacturers. The software informed the dealers how to modify their orders best to increase the chances of the manufacturer scheduling that unit.

A Succesful Move into Unchartered Waters

"From the dealership side, we moved up to the manufacturer's side. This gave us a unique perspective," says Smith Jr.

AutoSalesVelocity's software for automotive manufacturers aids in forecasting the material release for future production (reflecting customer demand with web-based, realtime demand projections), manufacturer allocations, and manufacturer region pool ordering by bringing the exact data science and data principles from solutions offered at the dealer level.

For a long time, manufacturers have been attempting to create regional pools of vehicles to serve groups of dealers. However, the result has always been the good vehicles getting sold and the pool gradually building up with the vehicles that dealers don't want. When manufacturers eventually realized this, they had to offer discounts to get too many wrong vehicles out of their regional pools. The software makes it possible to score the value of each vehicle in real-time in terms of how it matches the market, ensuring that it does not drop below a certain threshold.

AutoSalesVelocity's software is a comprehensive package designed to tackle different challenges. During the last two years of the pandemic, manufacturers working amid varied restrictions and with different volumes than they ever had, used the allocation software to get vehicles out to dealers faster, instead of letting dealers do the direct ordering.

"We are not a software company trying to be an automotive company, but a true automotive company with its software as a service," says Smith.

With sophisticated, proprietary algorithms driven by machine learning and decades of experience in writing software, the company's apps boast high integration features and accurate inventory predictions.

Our software suite brings data together in real-time, helping automotive dealerships, service centers, and manufacturers optimize inventory and turn cars faster

A Prolific Problem Solver

AutoSalesVelocity's modern software suite is optimizing the new vehicle supply chain. The software encompasses manufacturer forecasting for 24 months, managing the regional pool pipeline, scheduling dealer orders, helping them forecast their inventory for the next six to 12 months to order the right cars, and getting the right customer scheduled. These individual pieces of software are all part of the same platform feeding into each other.

AutoSalesVelocity continues to stay integral to the dealers and manufacturers trying to break the cycle of poor inventory and regional pool. It is something that the company has proudly demonstrated since its inception, and it continues to stay excited to solve these challenges.