Autotrader.ca recently announced the launch of a new product called Upgrade Optimizer – AI, described as an artificial intelligence technology that was built in 2021 and enhanced over three years.
The goal is to help Canadian automotive retailers sell more cars, faster and more profitably, by increasing management efficiencies and boosting performance for promoted dealership placements. The company is making its AI technology available to all of its dealer partners in Canada.
“We’re excited to bring this first-of-its-kind solution that streamlines the management of promoted inventory on AutoTrader.ca, while simultaneously delivering tangible results to our Canadian dealer partners,” said Ian MacDonald, Chief Marketing Officer at AutoTrader.ca, in a statement.
MacDonald said the team of data scientists worked tirelessly to ensure the AI and data algorithms powering the company’s new product would help dealerships “achieve their performance goals.” Doing so helps eliminate the guesswork and uncertainty “traditionally applied to the Listing Upgrade selection process,” he said.
Autotrader.ca also stated that the trial stage of the product involved more than 200 of its dealer partners across Canada. The results, they said, showed a 25 per cent spike to SRP Impressions, a 20 per cent boost in Vehicle Details Page (VDP) views, and a 15 per cent increase to hard leads.
“We always have a business priority to invest in the necessary resources, processes, and technology to ensure our dealer partners sell as many cars as possible, as quickly and profitably as possible,” said MacDonald in a statement. “This latest improvement to the way our Listing Upgrades perform is just another step in a long history of continuous improvement and optimization.”
