How Phil Smith Acura Supercharged Their Trades With RAVIN AI's Virtual Appraisal Technology

March 19, 2024 3:18 PM

In Pompano Beach, Florida, Phil Smith Acura, a pioneering dealership, embarked on a transformative journey that redefined their trade-in process and set a new benchmark in automotive sales and customer service. With the integration of RAVIN AI's groundbreaking virtual appraisal technology, they not only tackled pressing business challenges but also revolutionized how customers engage in trade-ins, resulting in significant benefits and enhanced operational efficiency.

Facing the Challenges Head-on

The digital age has ushered in a new era of consumer expectations, where convenience and efficiency are paramount. Recognizing the shift in consumer behavior, Phil Smith Acura confronted two major challenges that threatened their competitive edge. First, the modern consumer's reluctance to spend hours at a dealership for appraisals, with platforms like Carvana and Carmax offering more convenient alternatives, loomed large. Secondly, the need to acquire more quality inventory from consumers and win more trades for their new car business was pressing. Additionally, protecting the service department from damage claims by customers and upselling service and parts work using visual evidence became crucial objectives.

The RAVIN AI Solution: A Game Changer

RAVIN AI, a global provider of vehicle imaging and inspection technology, offered a solution that was nothing short of revolutionary. By leveraging mobile phones and stationary cameras to create off-site captures and 360-degree images of trade-in vehicles, RAVIN AI introduced a new level of engagement and convenience. Their technology allowed Phil Smith Acura to engage customers from the comfort of their homes, offering an immersive VR walkaround experience. This not only mitigated the risk of making unattractive offers but also significantly improved deal conversion rates.

Implementation and Impact

The dealership's adoption of RAVIN's Inspect™ Pro web application and the RAVIN Eye™ dashboard transformed their approach to vehicle appraisals and service recommendations. Service writers could now scan vehicles coming in for service, opening up discussions about additional work like tire replacements, bodywork, and alignments. Remote scans performed by customers provided a condition report for remote appraisals, enabling on-site appraisers to make informed trade-in offers. This seamless integration of technology resulted in a staggering 20% increase in trades per month and a 15% rise in trades from online leads.

Results That Speak Volumes

The implementation of RAVIN AI's technology yielded remarkable results. The internet department saw an increase of five incremental trade-in transactions per month, while the remote appraisal desk saved an additional three used car deals per month. The service lane generated approximately two used car deals per month, with a notable achievement of zero liability on damage during service. Overall, the dealership experienced a 100% increase in used car trades and eliminated spend on damage liability in the service lane.

Beyond the Numbers: A Story of Success

The success of Phil Smith Acura's partnership with RAVIN AI is best exemplified through the testimonials of its staff. Jason Graciano, the General Manager, hailed the system as a game-changer, emphasizing the dealership's ability to buy and sell more cars while enhancing staff performance.

Jason Graciano, General Manager: “This system is a game changer for us. Dealers cannot afford to wait for customers to show up. Thanks to RAVIN, we buy 10% more used cars, sell more new & used, and increase our staff performance. The beauty is that it’s a single platform that doesn’t need heavy physical hardware and delivers results from day 1. As a dealer that prides itself on superior customer service and efficiency, this tool is a must have to play in the digital age”. 

A Beacon of Innovation

Phil Smith Acura's journey with RAVIN AI is a testament to the power of innovation and the importance of adapting to the digital age. By embracing technology, the dealership not only solved its immediate challenges but also set a new standard in customer engagement and operational efficiency. As they continue to reap the benefits of this transformative technology, Phil Smith Acura stands as a beacon of innovation in the automotive industry, showcasing the potential for other dealerships to follow in their footsteps and revolutionize the way they do business.

Schedule your demo with RAVIN AI today and watch your business transform.
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