Canadian dealerships now have access to cutting-edge technology to protect their vehicle inventory and aid in the recovery of stolen vehicles, thanks to the newly launched CADA 360 Security Services program powered by RecovR®. Through a strategic partnership between the Canadian Automobile Dealers Association (CADA) and Kudelski IoT, the program introduces RecovR, a comprehensive solution offering 24/7 monitoring and geo-fencing to track vehicle movements and alert dealership personnel immediately when a vehicle is moved.
Michael Psotka, CADA's CFO and Director of Member Services, emphasized the extensive review process that led to the selection of RecovR as the best alternative solution available for member dealers.
"RecovR will not only manage dealership inventory more effectively but also expedite the recovery of stolen vehicles, ensuring minimal disruption and maximum security," said Psotka.
RecovR leverages GPS, cellular, Bluetooth, and Wi-Fi technologies to provide precise vehicle location and robust theft recovery capabilities. This multi-layered approach ensures optimal location of the vehicle, even in multi-floor dealer parking structures and when GPS isn’t available. The device installation is incredibly efficient, taking under one minute, and unsold devices can be seamlessly transferred to other vehicles.
Garage insurance providers are insisting on lot control devices in high-risk areas. RecovR meets that need at an attractive price. A key benefit of the CADA 360 Security Services program is its no-upfront capital cost arrangement for dealers. With a 40% sell-through rate to the end retail customer, dealers can operate their garage insurance compliant program at no additional cost. Additionally, the F&I office has the opportunity to make a substantial margin on the product with the sell-through. Retail customers also satisfy the requirements of their own insurance providers for higher-risk vehicles. It's a win-win.
Patrick Hauert, Kudelski IoT SVP of Asset Tracking, expressed enthusiasm about the launch of RecovR in Canada, highlighting its potential to significantly improve dealership security and operational efficiency. “You can’t sell cars you can’t find. RecovR markedly improves the ability of all departments in the dealership to find vehicles quickly and get customers on the road in their new cars faster.”
The importance of RecovR’s theft recovery technology is underscored by alarming statistics from the Insurance Bureau of Canada, which reported that the cost of replacing stolen vehicles reached a record $1.5 billion, with annual auto theft claims averaging $556 million between 2018 and 2021. RecovR has a 95% recovery rate within 24 hours across its dealerships and consumer customers.
Tim Reuss, CADA’s President and CEO, reinforced CADA’s commitment to advocating for legislation to reduce vehicle theft in Ottawa. "By introducing this new service, we are taking proactive steps at the dealer level to mitigate theft," said Reuss.
Dealers interested in learning more about CADA 360 Security Services powered by RecovR can contact CADA at 1-(844)-716-2472 or visit www.cada.ca/cada360securityservices.