AutoTrader.ca Delivers First AI Powered Automotive Marketplace Solution to Canadian Dealerships

TORONTO, Aug. 23, 2023 /CNW/ - AutoTrader.ca, Canada's largest and most trusted automotive marketplace, has announced the launch of Upgrade Optimizer - AI, a breakthrough artificial intelligence (AI) technology that is set to deliver efficiencies to the management, likewise spur performance for promoted dealership placements, through the AutoTrader.ca Listing Upgrade product portfolio. As ever, the goal of this investment is to help Canadian automotive dealerships sell more cars, more quickly and more profitably.

AutoTrader is Canada's largest and most trusted automotive marketplace. Offering the largest inventory of new cars and used cars in Canada, AutoTrader boasts hundreds of thousands of new and used vehicles for sale to Canadians across the country. AutoTrader helps Canadians buy and sell vehicles quicker, easier and with more confidence. (CNW Group/TRADER Corporation)

Following over two years of research, testing, and optimization of this cutting-edge technology, as well as the formation of a dedicated AI Data Science team to maintain and optimize the offering, the company is now making its first-to-market AI technology available to all dealer partners across Canada.

Listing Upgrades help dealerships amplify their marketplace presence by promoting inventory listings into prime search results positions on AutoTrader.ca. Upgrade Optimizer - AI is a managed service that harnesses the full potential of AI and data to determine the most effective Listing Upgrades for a dealership's inventory mix, evaluating over 300 million data points, including car shopper demand, consumer trends, and merchandising quality. The model is continuously re-learning and adapting, through real-time performance and marketplace data, to leverage relevant and up-to-date information when selecting the most suitable Listing Upgrades.

"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. "Our dedicated team of world class data scientists have worked hard to ensure the artificial intelligence and data algorithms powering our 'Upgrade Optimizer - AI' will help dealerships achieve their performance goals, eliminating all guesswork and any uncertainty traditionally applied to the Listing Upgrade selection process."

During product trials, involving over 200 dealer partners across Canada, Upgrade Optimizer - AI delivered remarkable results, including a 25% spike to search Impressions, a 20% lift in vehicle ad views, and a 15% increase to leads, through inventory listings on AutoTrader.ca selected and promoted by Upgrade Optimizer - AI.

"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. This latest improvement to the way our Listing Upgrades perform is just another step in a long history of continuous improvement and optimization. 'Upgrade Optimizer - AI' leverages the latest technology to deliver on our promise to bolster dealerships performance and sell more cars to Canadians," added Ian MacDonald. "I'm thrilled to witness AutoTrader.ca, Canada's longest standing, most trusted, and most influential online automotive classifieds, pave the way for cutting-edge technological advancements in Canadian automotive."

For more information on Upgrade Optimizer - AI, please visit: go.trader.ca/Upgrade-Optimizer

Source: TRADER Data Warehouse, Q1 2023

About AutoTrader.ca
AutoTrader is the largest and most trusted automotive marketplace in Canada. Offering the most new and used car inventory, together with the largest audience of buyers in Canada, AutoTrader enables and empowers millions of car sales every year for Canadians across the country. AutoTrader receives over 26 million monthly visits to the marketplace and the top-rated AutoTrader app has been downloaded by more than 7 million Canadians. Visitors can buy or sell cars, trucks, or other motorized vehicles quickly, easily, and confidently. Buyers can search based on vehicle model, make, colour, and geographic location to find the deal that is right for them. AutoTrader is also an online destination for automotive research and entertainment, featuring news, reviews, videos, and podcasts from award-winning automotive journalists. Follow AutoTrader.ca on LinkedIn, YouTube and Facebook.

SOURCE TRADER Corporation

Media Inquiries: Ciara Dalziel, LABOUR Creative, E: [email protected], T: 416.564.6918