Selected by CIO Review as one of the Top 20 Most Promising Automotive Tech Solution Providers in 2014.
To build and maintain a strong relationship with consumers. As it stands now, the buyer/vehicle manufacturer relationship starts and ends when the vehicle is driven off the lot. Sure, most new vehicles come with lengthy warranties nowadays, but those serve mostly to strengthen the relationship between buyers and their local dealerships—not build brand loyalty. OEMs are hoping that by installing telematics systems that can do cool things like integrate with consumer devices and enhance driver safety—in addition to providing the now standard GPS navigation—they’ll be able to add value to their vehicle experience. The hope is that owners will have such a great time driving their vehicle that they’ll stick with their manufacturer for the foreseeable future.
Ambitious? Sure. Realistic? Maybe. Whether or not manufactures can provide consumers with enough of a reason to pledge their loyalty remains to be seen.
What’s apparent already, however, are the benefits of telematics technology. With a system such as GoldStar GPS or LoanPlus CMS from Spireon, dealers and lenders can build a strong relationship of their own with consumers post-sale. For subprime customers, 24/7 location services and automatic payment alerts can provide the incentive they need to keep their loans current.
For dealers and lenders, the ability to quickly track, locate, and if necessary, confiscate a vehicle, greatly lowers the risk level associated with subprime financing.
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