INCENTIVES WHITEPAPER
Accurate and timely new vehicle incentives drive
profitability across the entire automotive sales chain.
© 2014 Chrome Data Solutions, LP. All rights reserved.
Overview
Today over 90 percent of vehicle buyers head online first when shopping for a new vehicle.
What gives one consumer site an edge over another? A major factor is comprehensive
vehicle detail pages that promote how much a dealer can knock-off the sticker price. That
information requires instant access to all deal scenarios, or incentives, for every vehicle.
The entire automotive sales chain benefits from incentive data. Dealer Service Providers
integrate it into dealer websites to attract buyers and help close more sales. Consumer sites
depend on it to deliver complete vehicle price comparisons and gain a competitive edge.
Financial institutions count on it to help minimize vehicle investment portfolio risk.
Incentives are in a constant state of flux as manufacturers continually introduce new deals
to entice consumers. So the question becomes: can automotive retailers trust the incentive
information they are getting? And, how can these retailers and investors best use this data to
drive profits? This white paper addresses these questions and discusses the benefits to the
complete automotive sales chain of leveraging incentive data.
The complexity of incentive data
At any one time, thousands of new vehicle incentives and rebates are available. There are
just as many compatibility rules and requirements. This makes the process of collecting
incentive data and presenting it in a useable and correct manner a difficult task. That is why
the majority of organizations count on third-party providers to deliver this data. However,
a lack of experience or inaccurate and incomplete data can result in misinformation that
jeopardizes credibility and profits.
Chrome Incentives Service leverages Chrome Data’s long record of leadership in automotive
data to be the first to publish the newest and most accurate deal scenarios for every vehicle
including: regional incentives, customer cash, finance rates, lease data and special programs.
Chrome Incentives Service is also the first to include stackability with equipment-specific
logic, so organizations can feel confident that they have the most accurate and complete
information.
© 2014 Chrome Data Solutions, LP. All rights reserved.
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Who benefits from incentive data?
Incentives and rebates from automotive manufacturers are a powerful selling tool to move
more vehicles more quickly. They also help consumers narrow down vehicle choices based
on price, help dealer service providers attract more online shoppers and enable financial
institutions to make profitable vehicle investments. Unfortunately many incentive providers
cannot keep up with manufacturers’ decisions or correctly convey compatibility rules. This
leads to outdated and incorrect information. Therefore, the ability to retrieve complete and
timely incentive data through Chrome Incentives Service has the following benefits for the
business types below:
Dealer Service Providers (DTP)
Dealer Service Providers must deliver measurable results and help drive additional profit for
their dealer clients. Including incentives on multiple pages of a dealer’s website is a powerful
way to attract in-market shoppers with higher than average conversion rates. Chrome
Incentives Service collects, standardizes and displays every incentive for every manufacturer,
and even includes stackability and equipment rules, so incentives can be included quickly
and easily. In addition, all incentives are mapped to a Chrome Style ID and Acode so they can
be easily integrated with other research tools without mapping headaches that heavily tap
resources.
Consumer Research Sites
Portals are a valuable research tool for consumers. For 85 percent of car buyers, analyzing
vehicle detail pages at a third-party site is the last thing they do before choosing a dealer
and visiting the lot. Including incentive information on these pages is a powerful way to
drive more traffic. After all, once a consumer narrows down vehicle choice, it’s the price
that drives the sale. Chrome Incentives Service makes it easy to add incentive data. Get up
and running fast with our web service, choose batch processing for high-volume inquiries
or download the entire data set and create a custom application. In addition, all incentives
are automatically mapped to a Chrome Style ID and ACode for easy integration with online
research and inventory tools without costly compatibility issues.
© 2014 Chrome Data Solutions, LP. All rights reserved.
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Dealers
Today’s online consumers want instant information about inventory. They don’t want to
fill out a form and wait for a phone call. That’s why vehicle detail pages have to include
complete and timely information that will motivate buyers to head to the dealership. Chrome
Incentives Service enables dealers to promote sticker price reductions to get those buyers in
the door. When combined with our industry-leading pricing and configuration data, Chrome
Incentives Service is the most powerful source for transactional data in the industry.
Financial Institutions
Financial institutions must develop low-risk, high-return loan agreements to minimize
automotive portfolio risk. Chrome Incentives Service delivers timely and up-to-date
information on new vehicle deals, giving these organizations the pricing information they
need to create accurate loan and lease agreements. This accuracy, in turn, reduces investment
risk.
Applications at a glance
In addition to the user groups mentioned above, Chrome Incentives Service is valuable for a
wide range of organizations. They are summarized here:
●● Marketing agencies and digital marketing providers that help manufacturers and
dealers advertise and sell vehicles online.
●● Dealership software companies such as inventory optimization solution providers.
●● Remarketing software providers
●● Insurance companies to fully describe the risk value
●● Other vehicle data providers and syndicators
© 2014 Chrome Data Solutions, LP. All rights reserved.
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Summary
In an environment where price-conscious consumers head online first to shop for vehicles,
where consumer sites are under pressure to deliver in-market buyers, and where financial
institutions are keeping a sharp eye on risk, accurate and timely incentive information is a
must have, not a nice to have. Chrome Incentives Service is the trusted leader, leveraging
decades of automotive data experience to be the first to publish the most accurate deal
scenarios for every vehicle, and the only provider to include stackability and equipmentspecific logic.
© 2014 Chrome Data Solutions, LP. All rights reserved.
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