CHESEAUX-SUR-LAUSANNE, Switzerland & PHOENIX--(BUSINESS WIRE)--Kudelski IoT – a unit of the Kudelski Group (SIX:KUD), a leading global technology and security provider – today announced the launch of RecovR, a two-in-one lot management and theft recovery solution that enables car dealerships to manage their lots more efficiently, improve the sales process and create a new revenue stream while providing consumers with the most advanced and reliable theft recovery solution on the market. RecovR is set to debut at the National Automobile Dealers Association (NADA) Virtual Show on February 9-11, 2021 and will roll out to dealerships shortly thereafter.
For dealers, RecovR provides a substantially improved and simplified financial model compared to other theft recovery solutions currently available on the market. It is provided at no upfront cost to the dealer. RecovR also provides improved efficiencies and faster sales with its lot management features, helps prevent theft or misplaced cars, gives a potential reduction on garage keepers insurance, and provides a high-quality product that creates significant revenue at the Finance & Insurance (F&I) desk.
“Most lot management and theft recovery solutions are costly, complex to install and use, and don’t take consumer privacy seriously enough. The RecovR solution has addressed all these issues by design, enabling effortless adoption by dealers while creating a disruptive new business model that generates profitability without upfront costs. Additionally, RecovR was developed by Kudelski Group, a smart parking and security technology leader, now bringing decades of security and privacy expertise to the automotive industry,” said Tanner Johnson, Principal Analyst for Data Security, Vertical Market Applications, OMDIA.
The RecovR locator is installed and associated with a vehicle in less than 60 seconds by placing it in a hidden location in the car and scanning the vehicle’s VIN. Because it doesn’t need to be wired into the vehicle, it doesn’t require professional installation and there is no risk of voiding the warranty as wired, battery connected solutions can. And because it is completely independent of the vehicle’s electronics system, it cannot be easily detected or disabled by thieves. RecovR is designed for ease of use by dealers, allowing them to use a powerful web portal or an individual mobile device to locate a specific vehicle in real time on or off the lot. RecovR data can also be integrated with a Dealer Management System or other software used by dealers.
“Kudelski IoT is shaking up the market by bringing the latest technology and an innovative new business model to improve the economics of dealerships and bring them improved operational efficiency,” said Patrick Hauert, VP Products for RecovR. “Not only have we created new and disruptive solution based on advanced hardware and software, but we are also offering an innovative business model that gives that to dealers at zero cost to them.”
With car theft rates soaring during the pandemic, RecovR gives consumers peace of mind, financial benefits if their car is stolen, and insurance premium discounts. According to the National Insurance Crime Bureau, a car is stolen every second and theft rates are increasing significantly during the COVID-19 pandemic period. RecovR provides peace of mind for customers through its easy-to-use theft recovery app. The solution can also be used to find a vehicle when misplaced in a parking lot or can be used to get immediate alerts if a vehicle is moved unexpectedly with the ‘Location Lock’ feature. Most insurance companies provide a discount for the use of secondary theft recovery solutions as manufacturers’ integrated solutions are often easily disabled by experienced thieves. In addition, RecovR comes with a $5,000 limited warranty for the consumer if a car is stolen and not recovered and provides $1,000 towards their insurance deductible. RecovR offers 24/7 nationwide coverage and service/support. You can learn more about RecovR at www.recovr.biz
If interested in learning more and seeing a demonstration of RecovR, please visit our virtual booth during NADA 2021.
About RecovR
RecovR, the innovative, two-in-one solution designed to help automobile dealers maximize lot efficiency and drive additional F&I revenue, is developed by Kudelski IoT, a leading global IoT technology and security solutions provider. The product of a proven team of more than 100 experienced professionals, RecovR benefits from the Kudelski Group’s 70 years of innovation. RecovR has no upfront costs, enables dealerships to sell cars faster and offers car buyers a valuable purchase add-on that captures incremental F&I revenue. For more information and to inquire about putting RecovR to work in your dealership, visit www.recovr.biz.
About Kudelski Group
The Kudelski Group (SIX: KUD.S) is a world leader in digital business enablement technologies that encompass digital content security, public access, cybersecurity, and IoT.
NAGRA provides end-to-end convergent media solutions to the digital entertainment industry including services and applications requiring access control and rights management to secure the revenue in digital television, internet, mobile and interactive applications.
SKIDATA is the world market leader in public access and visitor management with over 10,000 installations in over 100 countries, providing fast and safe access for people and vehicles.
Kudelski Security is an innovative, independent provider of tailored cybersecurity solutions to help enterprises and public sector institutions assess risks and vulnerabilities and protect their data and systems.
Kudelski IoT provides end-to-end solutions, IoT product design, and full-lifecycle services to IoT device manufacturers, ecosystem creators and end-user companies.
The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA with offices in 32 countries around the world. For more information, please visit www.nagra.com.
