Tracks Auto Intel Summit

A Fireside Chat: Remote Work, Increasing Delinquencies

Join the President of DRN & MVTRAC, Jeremiah Wheeler as he hosts a discussion among leaders in the auto finance industry about current trends affecting the industry, including how the increase in remote work arrangements, regulatory changes and increasing fuel prices are affecting vehicle lending and recovery. They’ll also discuss increasing delinquencies, how the industry is responding and what we should expect next.

Key Takeaways:

  • Understand the landscape of current trends in auto recovery and what to expect with future volumes.
  • Learn about how increasing fuel prices are affecting the recovery industry and how agents are working to save fuel.
  • Hear best practices for managing an increased remote work force – both as an employer and as an industry that’s affected by decreased commuting.

Digital Wholesale: Moving at the Speed of Light

The step-change to all-digital in 2020 turned into permanent behavior change for many dealers, with ~80% of wholesale purchases now going to digital buyers. While COVID sped the digital adoption curve, the speed of innovation also increased, giving dealers even more data and tools to thrive online—and there’s more to come. In this session, we’ll take a look at how much has changed, discuss innovations that have fueled dealers staying digital and preview how AI and computer vision are converging to provide the insights, consistency and reliability dealers and commercial clients need to thrive.

Key Takeaways:

  • Understand how COVID-19 drove faster digital adoption and increased the speed of innovation.
  • See how data and artificial intelligence enable buyers and sellers to stay nimble in a fast-changing wholesale marketplace.
  • Learn about the impact of computer vision on Vehicle Information and how it will bring more consistency and reliability to condition reports and more.

EVs and New Market Opportunities

The traditional retail car business is changing rapidly. Electric vehicles are predicted to dominate vehicle sales in the not-too-distant future, fully digital sales are now a reality as is on-site service, and car-sharing and vehicle subscriptions are now a real consumer choice. These changes can be seen as a threat or an opportunity for those retailers that utilize current infrastructure and expertise into proven emerging businesses. A start-up entrepreneur, the head of the strategic ventures group of one of the largest dealer/fleet leasing organizations in the country, and a founding partner of one of the leading mission-based venture capital firms will explore these changes and outline possible opportunities on the horizon for insightful automotive retailers.

Key Takeaways:

  • What new emerging technology-driven business models have been proven to be profitable growth areas that automotive retailers can integrate and adapt into current business practices for higher sales, profits, and customer retention.
  • How can traditional automotive retailers best leverage their infrastructure and expertise to enter and dominate these new business opportunities in their market area
  • Who can best support automotive retailers in their goals to integrate and adopt new emerging technology driven business models – in strategy, finance, operations, implementation, etc.

Lender Car Buying Services – Direct or Indirect, is that the question?

Over 80% of vehicle sales involve financing. Credit plays an important role early in the Digital Retailing process and is paramount for a personalized consumer experience.

This session will look at the lender’s role in Digital Retailing for direct and indirect lending models.

We’ll explore how lenders are playing a more prominent role early in the online sales process to help set realistic consumer buying expectations, reduce loan origination inefficiencies and build better dealer relationships to increase loan market share.

Key Takeaways:

  • What’s the difference and advantages/disadvantages of direct/indirect lending and the lender’s role in both.
  • How lenders can compete effectively vs FinTech disrupters, especially with lower inventory levels.
  • Lenders and FinTech disrupters. Do you build, buy, or partner to stay in front of the competition?

Sustaining Pandemic Trends Reshaping the Industry

In this panel discussion, we will explore how trends shifted during the pandemic, which ones industry experts think are here to stay and how it is affecting their 2022 strategy and future planning.

Leaders in the industry will share their perspectives about:

  • New trends they saw emerge, existing trends they saw accelerate and industry norms that were challenged
  • How organizations in the auto industry are adapting their planning, strategy, focus and investment in 2022 and beyond to adapt
  • How organizations are using these trends to improve the customer experience and their operational efficiency

Online Wholesale Picks Up Speed

Online vehicle remarketing/wholesale capabilities have existed for decades, but the focus has intensified in the last two to three years. Auto auction industry incumbents have ratcheted up online operations amid COVID-19, while recent startups in the digital wholesale space are now publicly traded and/or part of larger corporate entities. More recently, major tech players on the retail side of automotive are now launching their own online wholesale offerings. And lately, all of this has occurred against a backdrop of dealers seeking alternative ways to find used cars amid a supply shortage. This panels gather several players in the online wholesale vehicle segment to discuss the macro and micro factors behind this digital surge, while also exploring the granular aspects of the technology necessary for such platforms to succeed

Key Takeaways:

  • What is driving the increased interest in online wholesale, both from a corporate, small business and investment perspective.
  • The important technological and logistical considerations needed for online wholesale platforms to succeed.
  • The differences between the various forms of online wholesale and the market pain points these platforms aim to solve.
  • Where the market is headed next in terms of innovation.

The Product Refund Process in a Digital-First Era

Peter Krall and Anne Holtzman of Allied Solutions and Robert Christini of Dealertrack will discuss industry insights, the importance of strategizing the management of ancillary products and how you can leverage the speed, ease, and accuracy of technology to bring it all together. With them, you’ll explore an overview of the current market and how technology is increasingly becoming a dominant force. Attendees will walk away equipped with the knowledge and awareness of three challenges of product refund liability, invaluable takeaways to consider, and an outline of key best practices to observe. Allied Solutions is looking forward to diving deeper into what product refund liability is, the challenges it presents, and what it means to remain compliant in our digital-first environment.

Key Takeaways:

  • Compliance is complex and ever-evolving
  • Technology + people = accurate processes
  • Defined process for leveraging technology to manage ancillary products

Leveraging New Technology, Data and Analytics to Solve the Question of “What’s Next” in Automotive.

In collaboration with industry partners and with unmatched access to robust data and analytics, Rusty West has insights that few others do. Join us for an interesting conversation around the what’s driving the industry forward.

Accelerate Digital Retailing With Smart Logistics

Automotive retail has experienced more change over the past 3 years than the prior 30. The pace of change accelerated throughout the COVID-19 pandemic as dealers have had to adapt to shifts in buying behaviors, inventory shortages, heightened demand, a tough economy, and rising customer expectations around speed, convenience, and home delivery. Join us to understand how logistics, analytics and automation can be your competitive advantage, ensuring your dealership doesn’t get left behind during these unprecedented times.

Key Takeaways:

  • How to make logistics a competitive advantage to expand reach, source and move inventory faster.
  • The role that technology, analytics and automation play in reducing time and cost.
  • How to supercharge and personalize the last mile to exceed customer expectations.

Evolve and Thrive: SaaS is the Future in Lending

Independent auto dealers are evolving how they do business. The future is about improved efficiencies to accelerate deals and maximize capital. It is not enough to survive – the goal is to thrive. With intelligent, SaaS loan servicing technology in use at the dealership, inventory selection, setting terms and pricing, and stip submissions are easier than ever. Customers with credit challenges can get approved in seconds and drive off the lot fast in the vehicle that fits them best.An effective loan servicing partner enables dealers to boost sales and profits while using less staff and get fast back-end payments with no required volume. Everyone involved succeeds when innovative technology is integrated into the car buying experience.

Key Takeaways:

  • Auto dealers need to evolve their loan servicing to implement intelligent, SaaS technology for improved efficiencies and greater profits.
  • Innovative loan servicing technology provides more options to customers, enabling a more enjoyable buying experience.
  • A fully digital loan servicing partner allows a dealer to free up capital to purchase more

Categories

Archives