Federal Reserve announces emergency meeting on auto lending regulations • Click for details

Vehicle Sales

0
+ 0 %

AFN Composite Index

0
+0.44%

Consumer Sentiments

0
+ 0 %

SOFR

0
+ 0 %

APR 48 Mos.

0
+ 0 %

AutoGravity increases lead generation, turns to AI

Joey Pizzolato

AutoGravity has expanded the number of avenues it uses to generate customer leads for auto dealers, Chuck Schofield, vice president of sales and dealer services, told Auto Finance News.

AutoGravity’s platform allows consumers to perform inventory and financing research online before going to a dealership. With these new enhancements, dealer partners receive CRM notifications when consumers initiate engagement on AutoGravity’s platform beyond submitting completed credit applications through aggregators such as RouteOne or Dealertrack. For instance, dealers will get lead notifications if consumers submit partial credit applications, if a call is rerouted to a dealership’s sales department, or if consumers request vehicle availability or  price quotes.

Looking forward, AutoGravity intends to use artificial intelligence to better understand where consumers are in the car-buying experience to generate higher quality leads, Schofield said. “A lot of technology right now is designed to require customers to provide information in order for them to get information they’re looking for at that point in time,” he said, noting that when customers are looking at price, they might not necessarily be looking to buy a car yet — or even in the next 90 days.

“We’re looking at technology and machine learning notions of AI that are going to help bring in [higher quality leads] rather than inundating a dealer with hundreds of leads when only 10 people might buy a car,” Schofield said.

Related Posts

Bank of America consumer vehicle net charge-offs tick down

Aidan Bush

CarMax Auto Finance originations down 1.5%

David Thompson

Wells Fargo Auto originations soar 110% YoY

David Thompson

Chase Auto originations down 3% YoY

David Thompson

Subscribe To Our Email Newsletter

Join industry professionals who start their day with our curated auto finance news.

* indicates required

By clicking submit below, you consent to allow Auto Finance News (Royal Media Group) to store and process the personal information submitted above to provide you the content requested.

For more information please visit www.royalmedia.com/legal.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices.

Sponsored

Tesla announces new fleet financing program

EV Finance

Subscribe to Our Newsletters

PowerSports Finance - Monthly coverage of the powersports lending market