Drivably’s Inventory Technology Saves Byrider over $1.3 Million in 12 Months
CHANDLER, ARIZ. (PRWEB) DECEMBER 07, 2020
Drivably, an advanced AI company that helps dealers acquire private party inventory from the right markets at the right price, today announced its proprietary inventory technology has helped Byrider save over $1.3 million in inventory acquisition costs in just 12 months. Byrider is one of America’s largest buy-here pay-here used car dealerships and since its launch in 1989, it has sold more than 1.3 million cars at over 140 locations across the country. Drivably is on track to save Byrider $2.0 million over 18 months.
“Our technology helps innovative companies, like Byrider, analyze used cars on their own merit and buy the right vehicles at the right price for their markets,” said Tyler Hall, Co-founder and CEO of Drivably. “There are plenty of tools that tell you what’s going on in the used car marketplace right now. However, Drivably combines real-time analytics with a company’s historical transaction data so they can purchase the best inventory for their business with precision. Byrider understands this distinction which is why it has performed so well, even during one of the most challenging years in our history.”
Drivably uses predictive analytics to bridge the gap that has long existed between car dealers and the private party marketplace, in which over 40 million vehicles exchange hands each year. The company enables its dealer partners to buy consumer vehicles at scale, while providing extensive market data to help them understand which cars are the best for their business.
“We appreciate Byrider’s inventiveness and 100% commitment to uncharted territory,” said Andrew Sweet, Co-founder and CRO of Drivably. “It’s this commitment and willingness to innovate that will ultimately yield Byrider seven-figure cost savings during the coming year. Future iterations of our technology will produce even more dramatic results.”
Newly rebranded Byrider (formerly known as J.D. Byrider) offers high-quality cars, trucks, and SUVs with on-site financing, warranties, and optional services plans with each vehicle sold. The company is deeply rooted in high quality customer service and its stores feature state-of-the-art service departments offering low-cost maintenance. With its rebranding efforts, the company has revamped its website, optimized the vehicle purchase process, and enhanced its vehicle inventory options using Drivably’s breakthrough technology.
“Innovation is a core focus for Byrider and the partnership with Drivably has been a win-win,” said Craig Peters, Byrider’s CEO. “The efficiencies and savings we are seeing in vehicle acquisition through Drivably has not only helped our profitability, but more importantly, it has allowed us to deliver a better vehicle offering to our customers.”
Drivably identifies private party sellers, engages with them, puts the right offer on vehicles, and coordinates dealership appointments. Sellers are funneled directly and exclusively to a participating Drivably dealership within a specific market and a 15-minute walkaround inspection is conducted. The dealership cuts the consumer a check on the spot.
Drivably also integrates comprehensive analytics from all major industry data partners, combined with historical transaction data, to help businesses identify the cars they should buy, at what prices, and from which markets to streamline their operations and increase profitability.