Kelley Blue Book Acquires CDMdata and CDM Dealer Services, Enhancing DigitalLot Solution

Strategic Insights -

Kelley Blue Book, a leading provider of vehicle information, has acquired Minneapolis-based dealer solutions companies CDMdata and CDM Dealer Services. This acquisition brings under the Kelley Blue Book brand DigitalLot Solution, a single source solution for used vehicle sales and inventory management. DigitalLot enables dealers to quickly and efficiently sell more vehicles in a shorter period, reducing the time to book-in and market a used vehicle from over 25 minutes to about five minutes.

Key Takeaways:

  • The DigitalLot Solution is a single source solution for used vehicle sales and inventory management, reducing the time to book-in and market a used vehicle from over 25 minutes to about five minutes.
  • Dealers currently using DigitalLot are on average selling 10-20 more used cars a month and increasing profits by $10,000-18,000 a month.
  • The DigitalLot Solution is a comprehensive package that includes the iTab(TM) hand-held pen tablet, AutoOffice(TM) Web-based component, and Kelley Blue Book's vehicle pricing and data.
  • DigitalLot software captures a wide variety of vehicle information, including VIN information, used vehicle values, standard, optional, and dealer-installed equipment.
  • The DigitalLot Solution is offered as a service through CDM Dealer Services, which provides professional employees to handle the entire management lifecycle of the vehicle.
  • The lease program for the DigitalLot Solution is priced at $695 per month for a three-year lease.
  • Demonstrations of the DigitalLot Solution will be available at the 2004 NADA Convention in Las Vegas at the CDMdata Booth #5563.
  • Kelley Blue Book offers a range of products and services, including the KARPOWER(R) software, PriceLink(SM) service, and Dealer Advertising.

Statistics:

  • 500 U.S. dealerships are currently receiving the benefits of the DigitalLot Solution.
  • Dealers using the DigitalLot Solution experience an average increase in sales of 10-20 more used cars per month.
  • Dealers experience an average increase in profits of $10,000-18,000 per month.
  • The lease program for the DigitalLot Solution is priced at $695 per month for a three-year lease.

Sources:

  • PRNewswire, Jan. 31
  • Kelley Blue Book, kbb.com
  • CDMdata, http://www.cdmdata.com/
  • Nielsen//NetRatings
  • J.D. Power and Associates