Whether innovating automotive solutions from the ground up, or partnering with industry experts who innovate in specialist solutions, Titan DMS’s ongoing pursuit to make the automotive and allied industries a better place for all involved continues to evolve.
The traditional car sales cycle has shifted in recent years, with customers demanding much more flexibility from dealerships and financial institutions. Their search for an individualised solution that implicitly matches their needs has resulted in a new option for the traditional vehicle ownership model – car subscriptions.
Having extensive expertise within this newly emerging market, Loopit has taken the traditional car subscription model and packaged it within a solution that centres around the dealer. When adding subscription as an alternative for customers’ finance options, dealers now have the opportunity to reduce the leakage associated with declined finance applications and instantly generate recurring revenue from otherwise lost sales.
Such a model was identified as aligning to Titans’ goals to assist dealers’ use of technology and innovation to increase their bottom line. More importantly, Titan sees the subscription model as not just an opportunity to reduce sales leakage, but to drive customers to dealerships in the long term as the model becomes more widely known and accepted amongst consumers.
Helping dealers to understand how innovations such as subscription can positively affect their business, and to assist dealers with delivering these innovations, is at the core of what Titan does.