Vehicle Inventory Management (or VIM) programs offer many features to aid dealers in improving vehicle sales and inventory turns. The chart highlights information provided by IT vendors who offer dealers VIM products and services. Additional product information is available at a vendor’s website via the web link included in the company name.
Vehicle Inventory Management System Summary
Vehicle Inventory Management System Summary Definitions
1. Use store's sales history to select vehicles
Use the history of past sales from the DMS to highlight vehicles that were profitable or sold well in the past.
2. Appraisal system retail vs wholesale
Displays difference between wholesale costs and retail sales allowing stores to show possible profitability on the vehicle.
3. Local Market Metrics
View current market pricing for vehicles within your local area. View research on vehicles that sell well in the area.
4. VIN decoding for vehicle descriptions
Each character in the VIN number has a significant meaning. Together, they create a number that tells everything about the vehicle.
5. Real-Time Reporting
View current reports in the system from any computer. This information should show vehicle's location and current step in the sales process.
6. Daily synchronization with DMS
All data should synchronize with the store's DMS automatically or on a predictable schedule. This process should replicate data between the two systems to eliminate double entry.
7. Create and manage Internet listings (eBay)
Allow the store to list all dealership inventory on the Internet. This information should be as up to date as possible and should also be SEO (search engine optimization) friendly.
8. Unlimited photos for each vehicle
Allow the store to save an unlimited collection of photos to be used in Internet and print advertisements.
9. Single system to manage multiple stores
Allow a single system to interact with multiple stores and from multiple computers.
10. Create vehicle 'brochures'
The system can produce customized vehicle sales/information brochures for your customers to take away. These brochures should contain informative information about the vehicle and the dealership.
11. Create window stickers
The system should be capable of producing window stickers for the vehicles.
12. Automated updates to dealer website
New vehicle information entered into the system should 'trigger' an update to your website and Internet auction sites.