AI System Reduces Used Car Sales Bottlenecks
Shanghai-based New Tech Automotive Technology has introduced an AI system designed to streamline the trade-in to frontline process for used vehicles.
New Tech Automotive Technology (Shanghai) Co., Ltd. has developed an artificial intelligence system aimed at significantly reducing delays in the sale process for used cars. The company reports that its new technology can shorten the time it takes for a vehicle to move from trade-in to sales listing by up to nine days.
Automotive dealerships have historically faced challenges in efficiently processing trade-in vehicles to get them ready for sale. This typically involves inspections, cleaning, photography, and data entry before a car can be listed online.
The company's AI-powered solution utilizes an automated inspection workflow. As a vehicle passes through the system, the AI rapidly collects data on its condition, generates images for listing, and transmits the information to inventory management systems. This is intended to reduce the time vehicles spend in inventory, lower labor costs, and increase turnover.
New Tech Automotive Technology positions its system as a comprehensive solution that integrates multiple inspection functions, addressing not only external condition and damage detection but also undercarriage and tire data, differentiating it from systems focused solely on external aesthetics.
The company aims to help dealerships optimize their operations by accelerating the process of preparing used vehicles for sale, thereby improving profitability and inventory management.