Technology company Solera added auto retail software to its product suite, which also includes fleet management and vehicle repair, when it acquired dealership technology company DealerSocket last year.
With DealerSocket, Solera now has a lineup that includes dealership management systems, customer relationship management systems, websites and inventory management tools. But it’s not yet a well-known name in retail technology.
I wrote this week that the company is working to be more visible among dealerships, as well as differentiate itself from other retail tech providers. It also is now in the DMS space after acquiring DealerSocket’s independent DMS system and Auto/Mate’s franchised dealership system, alongside companies such as CDK Global Inc., Reynolds and Reynolds Co. and Cox Automotive — all of which also have robust software offerings.
One way Solera plans to stand out is through Solera Auto Finance, which will offer used-vehicle loans as a “captive-like” lender for dealership customers. The company said participants in Solera Auto Finance will qualify for credits that can offset the cost of a DMS based on loan volume.