Spyne, an Indian deep-tech platform focused on the automotive sector, today announced the release of its Auto Retail Suite. This new AI-driven platform aims to streamline operations for used car dealerships, addressing challenges from vehicle sourcing to final sales.
The company states that the Auto Retail Suite offers an end-to-end digital retail solution designed to help small and mid-sized dealerships operate more effectively. By connecting various aspects of the business, Spyne intends to improve profitability and customer relationships.
According to Spyne, the used car market faces increasing competition, and smaller dealerships often struggle with inefficient workflows. These inefficiencies can reportedly lead to a significant loss in potential sales (up to 60%) and revenue (10%) due to pricing issues. The company also highlights that poor visual presentation and ineffective follow-up contribute to lost customer interest and sales. Spyne claims that these disconnected operations can slow down processes by as much as five times, negatively impacting overall profitability.
Spyne’s Auto Retail Suite seeks to address these problems by automating key operational tasks and providing data-driven insights. The platform intends to optimize each stage of the vehicle sales process, from initial acquisition to customer engagement. Spyne also suggests that the suite will enable dealerships to expand their operations without requiring substantial additional resources or specialized technical knowledge.
Sanjay Varnwal, CEO and Co-founder of Spyne, stated that the Auto Retail Suite is designed to equip dealerships of all sizes with tools to meet evolving customer expectations in a digital age. He emphasized the platform’s potential to create a more connected and profitable environment for automotive retail in India.
The Auto Retail Suite incorporates several AI-powered features:
Inventory AI: This feature assists dealerships in managing their vehicle stock by extracting vehicle details, monitoring pricing trends, and suggesting price adjustments. It also facilitates inventory management and the publication of visuals across various online platforms.
Studio AI: This tool aims to enhance vehicle merchandising by generating high-quality images, 360-degree views, and marketing videos using AI. This intends to reduce the need for professional photographers or studios.
Autoweb AI: This feature allows dealerships to create professional websites using customizable templates and a drag-and-drop editor. It also includes built-in SEO tools to improve online visibility.
Connect AI: This feature focuses on improving customer engagement by tracking leads from different platforms in real-time. It categorizes leads and provides suggestions for follow-up actions, including the use of Agentic AI for customer interaction.
Spyne reports that its existing technology has already helped dealerships improve their online engagement by 67%, resulting in twice as many inquiries per vehicle listing. With the launch of the Auto Retail Suite, the company aims to further transform how used car dealerships conduct their business and interact with customers. Spyne believes that by integrating AI-powered automation and data analysis, the platform can help dealerships become more efficient and provide a better car-buying experience.
