Solera is not a household name in the auto retail technology world.
It aims to change that.
Solera, of Westlake, Texas, wants to introduce the dealership customers it gained in its 2021 acquisition of DealerSocket — with products such as dealership management and customer relationship management systems, websites and inventory management tools — to its existing technology suite. Those products are focused on vehicle repair, fleet management and insurance claims processing, said Alberto Cairo, managing director of vehicle and fleet solutions for Solera.
DealerSocket was "really a great acquisition because we felt that the product portfolios were extremely complementary," Cairo told Automotive News in March. "The two sets combine extremely well to provide all of the components that we believe dealers need to run their business effectively, from sales to marketing, fixed ops and internal operations."
Solera plans to differentiate itself from rivals through the creation of Solera Auto Finance. It offers used-vehicle loans as a "captive-like" lender for its dealer customers.