Wejo Launches Dealer Intelligence Solutions to Optimize Aftersales Profits by Leveraging Near Real Time Connected Vehicle Data

Rhea-AI Summary

Wejo Group Limited (NASDAQ: WEJO) has announced the launch of its Dealer Intelligence solutions at the National Automobile Dealers Association (NADA) Show in Las Vegas. These innovative solutions leverage near real-time connected vehicle data (CVD) to enhance customer experiences, optimize aftersales profits, and streamline inventory management for dealership operations. Key features include Dealer Performance Intelligence and the upcoming Proactive Maintenance service, aimed at predicting vehicle repair needs and improving operational efficiency. The solutions seek to transform dealership service centers into revenue-generating functions.

Positive

• Launch of Dealer Intelligence solutions that leverage 13.2 trillion data points to enhance dealership operations.
• Proactive Maintenance service aims to predict parts needs and improve inventory management.
• Insights from connected vehicle data can improve customer experiences and aftersales profits.

Negative

• None.

Solutions help dealers understand what customer vehicles may need repairs, how and where to market their services, and improve inventory management

LAS VEGAS--(BUSINESS WIRE)-- Wejo Group Limited (NASDAQ: WEJO) (”Wejo”), a global leader in cloud and software analytics for autonomous, electric and connected vehicle data, today announced the launch of the Dealer Intelligence solutions at the National Automobile Dealers Association (NADA) Show in Las Vegas, Nev. The Wejo Dealer Intelligence solutions utilize near real-time CVD to enable franchise dealers to improve loyalty by creating a better customer experience, optimize their aftersales profits, and improve their inventory management by simplifying planning and stocking of parts.

The Wejo Dealer Intelligence solutions, which pulls data from its current ingested 13.2 trillion data points of CVD - include Dealer Performance Intelligence and in the future will include a Proactive Maintenance service. When launched, Proactive Maintenance will help dealers understand what parts are needed in advance of the scheduled service appointments to minimize automobile downtime for the customer and prepare them for any unexpected repairs, as well as optimize the dealer’s inventory management.

“The insights, which can be gained through near real-time connected vehicle data, can enable the business leaders within dealers to provide a better customer experience and increase aftersales profits through the service center – a critical revenue generating function of their business,” said Richard Barlow, CEO of Wejo. “Wejo’s trillions of connected vehicle data points can highlight journey paths, key vehicle events such as harsh braking and movement patterns, providing exactly what dealers need to take their operation and customer experience to a whole new level.”

Wejo Dealer Performance Intelligence

Wejo Dealer Performance Intelligence utilizes near real time CVD to help dealerships’ senior leadership and General Managers understand what segments of their local market they need to attract by giving them insights into vehicle journeys within their local market, such as the beginning and end of a journey, time of day, stops at local points of interest, and proximity to their dealership. These insights are used to inform the dealer on how to reach their customer via marketing and advertising with the right message, at the right location and at the right time. The solution also informs critical operational decisions such as adjusting service center hours at specific locations to better meet the needs of consumers’ lives and lifestyles.

Wejo Proactive Maintenance

Wejo Proactive Maintenance will help aftersales managers retain service customers by getting ahead of vehicle repair and maintenance needs before they happen. By using near real time CVD to analyze types of journeys, model wear and tear, and probability of needed repairs, the dealership service teams will be able to take a proactive approach to communicating with their customers and how they manage their own business operations.

Operationally, Wejo Proactive Maintenance will eliminate the need for the vehicle to be present in the service center to undergo a diagnostic assessment by predicting when parts will need to be replaced. The service manager will be able to ensure necessary parts are ordered and in stock before the vehicle is even brought in for service. This will help improve the current cash intensive practices of keeping large amounts of parts in supply by moving to an approach similar to just-in-time inventory management and help manage supply chain challenges that are currently impacting the automotive industry.

The proactive approach will also be a tool to help improve the overall customer experience, drive repeat customers and may help to improve loyalty over time. Dealerships will be able to proactively communicate with customers about scheduling their service and discuss costs and repair time before they step foot in the door, and they will also lower the downtime of the vehicle minimizing the time the customer is without their vehicle.

The Wejo Dealer Intelligence solution will be available for demos starting in mid-March with the first product launch planned for April 2022. The launch date for Proactive Maintenance service will be announced later this year.

About Wejo
Wejo Group Limited is a global leader in cloud and software analytics for autonomous, electric, and connected vehicles, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data Smart Mobility For Good™ products tools and solutions. Wejo enables smarter mobility by organizing trillions of data points collected from approximately 12 million vehicles and 66.8 billion journeys to date, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo employs more than 300 people and has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit: www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. For more information, please follow this link: https://www.wejo.com/forward-looking-statements

View source version on businesswire.com: https://www.businesswire.com/news/home/20220310005010/en/

Media:

Andrew Ford, Wejo

Andrew.Ford@wejo.com

Antonio De Soto, Peppercomm on behalf of Wejo

aDeSoto@peppercomm.com

Investors:

Tahmin Clarke, Wejo

tahmin.clarke@wejo.com

Idalia Rodriguez, Arbor Advisory Group on behalf of Wejo

investor.relations@wejo.com

Source: Wejo Group Limited