If you think back ten years ago to 2006, how much did you know about technology? Did you have a computer in your own home? If so, did you use that computer nearly as much as you do now? Chances are you depend more on the internet now more than ever before for various aspects of your daily life. Access to online bill paying, virtual GPS systems for directions, and even the real estate market are prime examples of the readily available features provided by the internet. There is one aspect of our daily lives, however, that has not fully taken the online switch over to the virtual side. That aspect would be the automotive retail industry.
In 2009, only a mere 4% of all automotive retail sales were held online and increased to roughly 15% in 2013. Compare these numbers to the 50% of online visibility that is held by industries such as publishing and entertainment, as told by Forbes.com. Because of this minor increase, there has already been a decline in the number of visits a consumer makes to the dealership before buying a car from 4 visits to an average of 1.4 visits.
Does this come as a surprise that in this short of a time period that an online presence can make this much of a difference? Consider everything that is readily available to the public on marketplaces like Amazon, as pointed out by AutoRemarketing.com. There are hundreds of thousands of products for low prices listed for the immediate purchase by consumers. This not only saves money, but time as well from driving to and from the store to waiting in line and taking the chance that the item you are looking for may not be in stock. This is no different than the pros and cons of the automotive retail industry. On-demand automotive retail platforms, such as ShowroomXpress, are merging the automotive industry with the new advancements in technology. ShowroomXpress showcases car inventory from dealerships to consumers through an online presence available at home and interactive kiosks present at dealerships and is being released to the public in the upcoming year. Much like ShowroomXpress, MyDealerOnline has a similar vision of how the automotive industry can be taken into a new era.
MyDealerOnline saw the opportunity of an online automotive presence and full heartedly took an initiative. By setting up an online platform, auctioneers and dealers can showcase their used car inventory that they have available on and off their lot. Consumers can conveniently see inventory in the comfort of their own home before taking the trip out to the dealership to ensure a successful transaction and long-term satisfaction. With so much of society being dictated online, it seems impossible that there hasn’t be a service offered like this before. Learn more about how we can assist you in the car buying process at MyDealerOnline.
MyDealerOnline is pleased to welcome Aspite Auto and Salvage Auction to our clientele!
Just over fifty years ago, Jerry Aspite Sr. opened Aspite Auto as a classic auto body shop in Northeast Philadelphia. Today, Aspite Auto Auction remains a family-owned and operated business under the reigns of Aspite brothers, Jerry and Antonio. Aspite Auto Auction is the only salvage auction in Philadelphia and also auctions clean title vehicles and equipment for financial institutions, charitable organizations, municipalities and new car trades. Aspite currently holds online and live auctions every other Wednesday open to both car dealers and the public.We had the opportunity to go on site and talk to the brothers themselves in this short video.
With the help of MyDealerOnline’s inventory tool, Aspite Auto Auction has increased their offsite inventory, with thousands of additional clean and salvage cars now available through Aspite's offsite inventory page. If you are a dealer looking for parts or a consumer hunting for a great deal on a used car from a local vehicle supplier, Aspite Auto Auction is the place for you.
Make sure to check out MyDealerOnline’s “Hot on the Lot” special to see what featured vehucle is up for bid at Aspite’s next auction on Wednesday, February 17th online at aspiteauction.com or onsite at:
Aspite Auto Auction
7000 State Road
Philadelphia, PA 19135.
With as warm and unpredictable as this winter season has been, it was an exciting change of pace when Winter Storm Jonas hit the east coast. The biggest downside to having a winter wonderland, however, has everything to do with our automobiles. Clearing out mountains of snow on driveways, salting sidewalks and streets to prevent slippery conditions, and increased risks while driving are just a few setbacks that result from these anticipated snow days. With all of the stress winter weather conditions put on your vehicle, think about the impact these conditions can have when trying to sell cars in the middle of a blizzard.
If you are snowed in, chances are that car dealerships are snowed in right there with you. As soon as the snow stops, it's common practice to shovel and remove the snow from on top and around your car. Imagine having to clean off hundreds of cars and having an entire lot to clear, not just a driveway. Winter conditions hit dealerships the hardest in regards to getting back to business after a storm. Rough winter weather conditions not only put pressure on the employees of the business, but also defers consumers from making the trek out to visit one or even multiple dealerships to go car shopping. Is there a plausible way to minimize the impact of extreme winter weather scenarios on business productivity, particularly in auto sales?
Well, one way is to have inventory readily available on your website for consumers to browse. If you think about it, snow days may even make for the best car shopping days because consumers can sit on their laptops or mobiles and browse through vehicles all day at just the click of a button. In fact, AutoRemarketing.com reported that Winter Storm Jonas had little to no effect on the buying and selling of used cars, stating that sales were up by 2% when compared to the previous year. This can be attributed to the trend of online inventory being readily available to customers from dealerships. Not only does it broaden the inventory, but also creates ease for winter conditions as well. The fewer cars on the lot, the less working capital you have to provide to maintain those vehicles. Why not increase your inventory off the lot by adding thousands of readily available auction cars to your website?
MyDealerOnline can bring these inventory considerations and much more to your dealership. Click here to find out how you can increase your online inventory to get you through the rest of this climate-confused winter season.
News is going viral that within the next month General Motors will release an online platform to market and sell their used-car inventory. You may not think this is the first of it’s kind, but they have further released news about the additional features that will be offered to customers. AutoRemarketing states that some of those features include bumper-to-bumper warranties, flexible exchange programs, and bonus features added to the car itself such as an OnStar Guidance Plan, roadside assistance and satellite radio packages. General Motors also issued car history reports readily available to customers and a vast amount of information varying from numerous pictures of the car to how quickly the car can be available for delivery. This program has acquired highly acclaimed reviews by associates at Kelley Blue Book and is gaining interest by the day.
In addition, General Motors is releasing a car-sharing service to different demographics throughout the nation. This will enable a customer to acquire personal mobility at their convenience on their smart phone, just like Uber or Lyft, but without the additional service of a driver. The service will not be recognized as General Motors. Rather, it will be defined under a new identity brand named Maven. As mentioned by AutoRemarketing, this is a new start up in the industry and there are countless competing ideas and services being brought to the public each and every day. With this being said, take into consideration how millennials are approaching the automotive industry as it comes time for them to get behind the wheel.
It is becoming more prevalent that there are major differences among baby boomers and millennials on their views about common life occurrences. Take Harley Davidson, for example. Harley Davidson Motorcycles are struggling to remarket to millennials because their current target, which is baby boomers, has defined their brand as a desired, edgy lifestyle. This fad did not catch on as easily as it once did and is drastically declining revenue. Another lifestyle difference between baby boomers and millennials is the first car buying experience. Millennials are not seeing this occurrence of buying your first car as something to symbolize their freedom or holding enough importance to strike-up a conversation about. Rather, this experience is becoming passing small talk as told by AutoRemarketing.With this being said, millennials will steer more towards General Motors’ upcoming programs because they coincide with millennials’ needs of postponing the initial “first car experience” with car-sharing and dimming the excitement with used-car buying online. With millennials being targeted by mass media now more than ever before, should more companies start looking with the same social approach as General Motors? Have you ever considered the online aspect of your company? MyDealerOnline may have you covered.
The future might be just around the corner, as reported by AutoRemarketing. Research shows that autonomous cars, or cars that are able to drive on their own, may be readily available to the public in the millennials’ lifetime. Some experts further say that they could be presented to the public in as little as 10 years.
Sounds impossible, but take into consideration the autonomous features that already are in existence. We have sensors that detect and signal warnings when our cars cross over into another lane. Autonomous braking has become a mandatory feature to some car owners, especially those with families and small children. Technology has gone as far as to create guided cruise control and parking assistance. As pointed out by Stratechery, electric cars, the most recent advance in technology for the auto industry, have skyrocketed in the market. Every country that has started producing electric cars faced their most profitable year in 2015. Autonomous features and electric cars are nothing new in the industry, but are today’s car drivers really ready for completely autonomous vehicles?
It should not come to any surprise that nearly 70% out of 1,000 consumers who were surveyed last year stated that they would consider a vehicle with autonomous features. One surprise, however, may be that these autonomous cars are considered to be “luxury” cars, even if non-luxury brands are the ones being equipped with them. Consumers are becoming more and more accustomed to the idea of not having to manually drive their cars due to services such as Lyft and Uber, taxi providers that are controlled by an application on your smartphone.
In reference to used car dealerships, this new found technology will alter the various aspects of certification qualifications that enable vehicles to be considered a “used car”. There are going to be more regulations in regards to how different technologies in cars should work. This not only includes these autonomous cars, but also the existing cars with autonomous features. Would this increase or decrease the value of “used cars” if that term meant they would be automatically driven? Think about how manual cars currently come into play with this analogy and also how they play into the role of “classic” cars.
Take a look inside what the future holds: Watch Me
LANGHORNE, Pa.--(BUSINESS WIRE)--MyDealerOnline®, Inc., the only digital product that allows car dealers to broker wholesale auto auction inventory straight from their own websites, is starting the new year off strong after receiving $1M in funding just before the close of 2015. With recent developments like new product features, prosperous partnerships and industry recognition, MyDealerOnline successfully secured financial support from the same group of investors as prior funding rounds. Now totaling $3.25M in funding, the additional $1M allows MyDealerOnline to focus on increasing its subscriber base, fostering growth among new and existing partnerships, and expanding its efforts internationally.
Tech startup, MyDealerOnline, receives $1M in additional funding to revolutionize the auto remarketing industry.
MyDealerOnline’s revolutionary technology has yet to be introduced to the automotive remarketing industry. A B2B service developed as an advantageous tool for remarketing vehicles, MyDealerOnline provides dealers with a greater inventory selection without increasing their working capital requirements or overhead availability. Contrary to popular websites designed to bypass dealers like Beepi and Vroom, MyDealerOnline works directly with dealers to help them satisfy consumer demand. “MyDealerOnline helps dealers engage with more retail customers by offering greater inventory selection to a wider audience,” states Scott Stephens, Vice President of Business Development. Even with the infiltration of automotive marketplaces online today, consumers still rely on dealers not only for purchasing vehicles but also for trade-ins, warranties, services and other add-ons available only from the professionals.
MyDealerOnline aims to revolutionize the car buying process for both the consumer and the dealer. Dealers can obtain more customers and sell cars without upfront capital investments while consumers have more options shopping at their local dealer. With inventory secured from local auctions surrounding Greater Philadelphia, nationally and auctions overseas, MyDealerOnline provides an opportunity to revolutionize automotive remarketing for dealers everywhere.
MyDealerOnline® is a revolutionary digital product that allows car dealers to broker wholesale auto auction inventory straight from their websites. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”
Source: MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire
78 Cabot Boulevard East
Langhorne, PA 19047 November 17, 2015
P R E S S R E L E A S E
MyDealerOnline® Brings on Scott Stephens as Vice President of Business Development as the Company Continues to Grow
Langhorne, PA (November 17, 2015) - MyDealerOnline® is pleased to announce the addition of Scott Stephens as Vice President of Business Development. With decades of experience in the automotive industry, Stephens will be a strong attribute to the MyDealerOnline team. For the entirety of his career, Stephens has worked to support car dealers, including over twenty years of experience at Cox Automotive. As General Manager of ExportTrader.com, Stephens developed the leading portal for overseas car dealers - building relationships in over one hundred fifty countries.
MyDealerOnline aims to revolutionize the auto remarketing industry. MyDealerOnline partners with auction houses, takes their available inventory feed and places it directly onto the car dealer’s website for consumer shopping. MyDealerOnline’s existing auction house partnerships include ninety percent of the salvage inventory market with Copart and Insurance Auto Auctions, as well as substantial clean car auto auction inventory partners such as ADESA and Auction Broadcasting Company. Through these partnerships and future partnerships developing on the horizon, MyDealerOnline intends to reach more dealers and expand both domestically and internationally.
With inventory available from auto auctions around the globe, the focus remains on introducing dealers to MyDealerOnline’s revolutionary wholesale to retail purchasing product. Stephens’ goal for MyDealerOnline is to build the largest network of connected dealers throughout the world. Stephens feels that, “MyDealerOnline provides dealers, both domestically and internationally, with greater selling opportunities - reaching more consumers with expanded inventory options.” The contribution of Stephens’ international auto experience will assist in MyDealerOnline’s continued expansion efforts.
MyDealerOnline® is a wholesale to retail digital product that allows car dealers to broker wholesale auto auction inventory straight from their own website. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.” MyDealerOnline provides the auction houses and their consignors with a broader buyer base and car dealers with a greater virtual inventory for direct consumer shopping. Visit MyDealerOnline at mydealeronline.com.
Digital Marketing Manager
At yesterday’s Tech.Co Cocktail in Arlington, VA, MyDealerOnline placed second as D.C.’s Startup of the Year. We would like to congratulate D.C. Startup of the Year winner, RouteHero, for their innovative traffic and transit alert app, which helps Washington, D.C. commuters avoid traffic jams and delays before they encounter them.
As the members of MyDealerOnline socialized with other inventive startups from the area, we realized we were all there for one common reason: to save individuals time and money as well as ease people's lives through the use of technology. MyDealerOnline’s product provides more of all three of these facets; time, money and convenience. Here is how.
Car dealers maintain an inventory of vehicles available for purchase for interested car buyers. Currently, dealers look to sellers such as leasing companies, banks, car manufacturing and financing companies, fleets, rental companies, and insurance companies to obtain these vehicles. Dealers must guess which vehicles their prospective customers would be willing and eager to buy.
In turn, consumers search their local dealer’s websites or lots hoping to find the car that they want. Oftentimes, they discover that their local dealer does not have their desired vehicle. They then go to the next dealer and continue this process until they hopefully find the car that they want or they comprise to find a vehicle that is at least somewhat similar at a reasonable price. This is a time consuming and option-limiting process, one that can be frustrating for an eager car buyer.
MyDealerOnline has revolutionized the car buying and selling process for all parties involved.
For dealers, MyDealerOnline lists thousands of cars on dealer’s websites, providing them with enough inventory to satisfy any customer that comes their way. Since the dealers no longer need to invest the money to buy cars blindly up front, they are then able to sell those cars to consumers for much cheaper. For consumers, more cars are available locally at a close to wholesale price. This reduces the hassle of car hunting at multiple dealerships and saves consumers money on the car that they want. Sellers in turn can expose their cars to more buyers and sell them in a shorter period of time.
MyDealerOnline is here to revolutionize the car buying and selling process by making it more cost and time effective, convenient and satisfying. Are you ready to change the way we buy and sell vehicles?
6 Neshaminy Interplex, Suite 310
Trevose, PA 19053 August 24, 2015
P R E S S R E L E A S E
Philadelphia-Based Startup, MyDealerOnline®, Raised $1.6 Million to Allow Car Dealers to Sell Cars Before They Buy Them
Trevose, PA (August 24, 2015) - MyDealerOnline® is a wholesale to retail digital product that allows car dealerships to broker wholesale auto auction inventory straight from their own websites. MyDealerOnline® partners with auction houses, takes their available inventory feed and places it directly onto the car dealer's website. Developed by Alteso®, a company that prides itself on accelerating the auto remarketing industry, MyDealerOnline® removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”
After three rounds of funding, MyDealerOnline® has received 1.6 million investment dollars; 1.1M in October of 2013, 200K in December of 2014 and 300K in August of 2015. These investments have allowed MyDealerOnline® to develop the technology, submit a patent, pursue and establish auction inventory partners and begin marketing to auto dealers around the globe. "It starts with the inventory.", stated Cheryl Munce, Chief Executive Consultant at Alteso®. According to Munce, the beauty of such a product is that, “It essentially puts the retail transaction ahead of the wholesale transaction.” She went on to say that, "Consumers can now shop a dealer's website and browse 'virtual' inventory to look for the car of their dreams. Of course the wholesale price is NOT displayed to the consumer so the dealer can protect their profit margins and handle the acquisition and sale directly to their customer."
MyDealerOnline® is an invisible technology that seamlessly integrates off-site auction inventory within a dealership website, thereby keeping shopping consumers engaged on the dealer's website. The dealer can sell more cars, maximize their digital marketing expense by attracting and retaining more customers and minimize inventory acquisition risk. With plans to obtain a greater amount of inventory vehicles and cater to a broader client base of car dealers, MyDealerOnline® aims for a promising and prosperous future. MyDealerOnline’s® vision is to revolutionize the way auto remarketers and car dealers do business by giving every dealer a "virtual" showroom of FREE inventory.
MyDealerOnline® is an auto remarketing product of Alteso. Founded in 2002, Alteso® develops revolutionary digital solutions that accelerate and enhance automobile remarketing programs. Alteso’s® commitment to the auto remarketing industry is delivering timely, easily integrated, on-demand digital solutions supported by best-in-class employees. With a lifetime of experience in technology and nearly a century of combined automobile remarketing expertise, Alteso® has products that meet the rapidly changing demands of the industry while delivering value for all stakeholders. For more information, visit Alteso’s® website at www.alteso.com/