Automotive Technology: Looking forward to the months ahead

Sam Mahrouq, Chairman and Chief Executive Officer, iKON Technologies

Today’s world is technology centric, especially in the automotive industry in which dealers must continue to compete on the ground in person and now look to connected applications to close business transactions as well as build customer loyalty. iKON Technologies is unique in that it is led specifically by Dealers innovating for Dealers.

Inventory security will always be paramount for both new and used car dealers, but 24-hour security guards are inefficient and expensive. iKON’s GPS system is unparalleled in the ways it provides inventory management by answering questions like: where are the cars on the lot; are the batteries charged; are they ready for delivery; where are the loaner cars; what vehicles are in collision repair—all critical to the "get ready" process. Simply put, iKONallows dealers to monitor, protect, and optimize their mobile assets throughout the U.S.

But now our customers need more—they need ways in which their dealerships continue to be paramount in the minds of their customers.

Years ago, car dealers had to move out of the coffee shops where they closed their sales with those persons who depended on them for the best deals and who would always be their best references. They were forced into designing attractive websites that spotlighted their inventory and helped to build brand loyalty.

Now today, technology reigns, and car buyers are more and more comfortable doing business online.It’s difficult to compete with others, who on internet platforms,are showing their vehicles in attractive ways, emphasizing the “extras” the cars have, and promising rapid delivery to the buyer at a location where-ever that might be. In many ways, the COVID pandemic is forcing this change to occur even more quickly;and no one can really expect most shoppers to revert to their old ways.

Because I myself and many of my partners have been automotive dealers for decades, we have the first-hand experience of dealing with operational and marketing challenges in the industry. While this may seem like a small market, it truly isn’t.

In addition to operations management, iKON has added the capability within its products to monitor speed, breaking, gas consumption, etc. all benefiting consumers as well as society. We are having a positive impact on the planet through reduced insurance costs, promoting good driving behavior, and significantly improving the "relationship" between users and their vehicles

In the second quarter of 2021, iKON Technologies will strengthen our position as the go-to Connected Vehicle Technology expert for the industry. We will roll-out our newest proprietary app which, for a teaser between now than then, we are referring to as our “glove box.”

Equally important, we will be partnering with dealers to empower them in today’s competitive world. For their specific dealerships, we will “brand” the app as theirs so that their customers who will be using it will always be reminded of whom their trusted automotive partner is.