Paragon Honda in New York City sold 1,542 certified used Honda cars and trucks last year, more than any other U.S. dealership.
Brian Benstock, the dealership's general manager, attributes much of that success to Live Market View. The software tool, provided by vAuto Inc., helps Paragon Honda keep track of used vehicles posted for sale online in its market.
Benstock said such competitive data help him price his dealership's own used cars and trucks to sell quickly and profitably.
"We were No. 2 in Honda certified sales in 2006, so it's not like we were asleep," Benstock told Automotive News. "But with this tool, we were able to have a substantial increase in the good result we had the year before."
Franchised dealerships are making greater use of Web-based software to manage their inventories, dealers and industry analysts say. The online products are designed to help dealerships stock vehicles that are best suited to their markets.
"The used-car department is critical for the overall profitability of most dealerships," says Wayne Fortier, an accountant with Dixon Hughes PLLC, an accounting firm that advises dealerships. "So the products have to perform."