CADA partnership brings lot management and stolen vehicle recovery tech to dealers
June 10, 2024
Canadian dealerships looking to better protect their vehicle inventory, and help recover stolen vehicles now have a leading edge technology available to them through a newly-launched CADA 360 Security Services program. RecovR offers 24/7 monitoring through their platform, utilizing geo-fencing to track a vehicle's location and alert dealership personnel when a vehicle moves.
The Canadian Automobile Dealers Association (CADA) and Kudelski IoT have joined forces to offer a comprehensive solution powered by RecovR. This offering will allow CADA 360 member dealers a proven solution to manage their inventory and to assist in swiftly recovering stolen or missing vehicles.
"It’s not often that the Canadian Automobile Dealers Association endorses a specific product or service. After extensive reviews and evaluations, and with input from our CADA 360 Garage Insurance Committee, we have selected a product that best meets the needs of our member dealers,” said Michael Psotka, CADA's CFO and Director of Member Services. “RecovR will help manage dealership inventory and recover stolen vehicles quickly and effectively."
“The RecovR solution encompasses the best combination of leading edge technology, compliance with Garage Insurance providers’ requirements, and an attractive business model for dealers. Dealers will be especially attracted to the no-upfront capital cost arrangement available to them. While the focus of the product is on Dealer’s requirements, RecovR also offers best-in-class technology to allow the retail customer to track their own vehicles and immediately report theft. This will then comply with the retail customers' own insurance company requirements. Combined with healthy margins available in the F&I office on the ultimate sell through to the retail customer, CADA believes this is absolutely the best program available to dealers today,” said Psotka.
RecovR leverages a powerful combination of GPS, cellular, Bluetooth, and Wi-Fi technologies to deliver precise vehicle location and comprehensive theft recovery. This multi-layered approach ensures optimal recovery success, even if criminals attempt to jam one of the signals. By integrating these four distinct location methods, RecovR offers unparalleled reliability and peace of mind in vehicle protection.
Once the devices are paired, and with CADA 360 Security Services placed in vehicles (a process which takes about 30 seconds), dealers can then offer the ongoing protection and peace of mind by selling the service to their customers. However, if there is no sell-through, the RecovR device can be easily moved to the next new vehicle that arrives on the dealer lot.
CADA and Kudelski IoT issued a joint news release last week to officially launch the program.
"We are thrilled to expand RecovR into the Canadian market and deeply appreciate our partnership with CADA,” said Patrick Hauert, Kudelski IoT SVP of Asset Tracking. “This collaboration underscores our commitment to providing advanced security solutions that address the critical needs of dealerships and their customers. We look forward to helping Canadian dealers protect their valuable inventory and enhance their business operations with a unique, no upfront cost business model that generates incremental revenue for the dealer."
The news release cited Insurance Bureau of Canada statistics that showed the cost of insurance claims for replacing stolen vehicles in Canada had soared to a record-breaking $1.5 billion. Between 2018-2021 auto theft claims averaged $556 million annually.
"CADA is working diligently in Ottawa to advocate for legislation that will curb the tide of stolen vehicles leaving the country. By introducing this new service, we are also taking action at the dealer level to mitigate theft,” said Tim Reuss, CADA’s President and CEO. “We are responding to the needs of our dealer members and new car buyers in Canada."
CADA 360 will be releasing full program details soon, and is encouraging dealers to contact CADA 360 Security Services, powered by RecovR (1-(844)-716-2472) or visit cada.ca/cada360securityservices.