Dealers Find New F&I Profit Center With Spireon Skylink
Dealerships can tap into billion dollar connected car market
Spireon Inc., the leading provider of GPS-based vehicle telematics and business intelligence solutions with over 3 million active subscribers, today announced thatSpireon SkyLink is enabling auto dealerships to streamline inventory management as well as add a new finance and insurance (F&I) profit center with a unique connected car service offered to car buyers.
According to SNS Research, connected car services will account for $14 billion in annual revenue by the end of 2016. Connected car applications include telematics, infotainment, remote diagnostics, UBI (Usage Based Insurance), semi-autonomous driving, and others. This connected car business opportunity has largely escaped car dealers, as car manufacturers and aftermarket services reap the benefits of this growing market.
With Spireon SkyLink, car dealers now have the ability to offer connected car services to their customers, adding a new source of revenue for their business while also providing a compelling connected car product and service for their customers.
Streamlined inventory management
With SkyLink, car dealers partner with Spireon for a one-time install of the GPS tracking device to use for their inventory management, saving precious time and resources on the floor.
“Floor plan checks that took over six hours now take less than ninety minutes,” stated Rick Meewes, general manager, Arrowhead Cadillac. “The Find It feature allows my sales department to locate vehicles quickly, which has cut my total transaction time down to less than three hours. SkyLink is an invaluable partner.”
New F&I Profit Center
Once a car is purchased dealers can add-on the SkyLink mobile app service for the car buyer, connecting them to the already-installed GPS tracking device. The car buyer simply connects to the SkyLink mobile app via their smartphone.
“SkyLink has produced a significant amount of income for our company and our group of dealerships,” stated Chris Depperman, national director, Berkshire Hathaway. “Their customer service is unmatched, and I highly recommend them to any other dealership group or insurance company.”
Stolen Vehicle Recovery
SkyLink’s connected car features include a modern solution for consumers to easily recover their vehicle if ever stolen. Car owners using SkyLink can quickly locate their vehicle with using the SkyLink mobile app, while Spireon SkyLink works directly with law enforcement to recover the vehicle. SkyLink also features optional theft guarantee coverage, providing up to $5,000 in trade-in benefits should a vehicle be stolen and not recovered in 30 days. Additionally, users can save up to 25% on insurance premiums that offer discounts for cars with theft recovery devices installed.
“With over 14,000 car dealerships currently connecting their inventory with Spireon products, we are a trusted partner in the dealer community,” said Bill Stephenson, senior vice president at Spireon. “Our satisfied customers can attest to SkyLink’s win-win of being able to not only save time and resources dedicated to inventory and lot management, but also add a new F&I profit center to their business by offering the connected car features that car buyers really want.”
Spireon, Inc. is the industry’s leading open connected vehicle company, providing businesses and consumers with powerful Big Data insights to track, manage and protect their most valuable assets. The award-winning Spireon NSpire open platform delivers rich information from any GPS connected vehicle or asset, converting that information into actionable insight. Headquartered in Irvine, CA, Spireon’s open connected vehicle platform now supports more than 3 million active subscribers across the company’s growing suite of product offerings for new and used car dealers, lenders and financial institutions, rental car agencies, insurers, consumers, and fleet, trailer and asset management companies. Learn more at www.spireon.com.
Steve Johansson , Director of Communications and Digital Strategy, firstname.lastname@example.org