Keyloop has successfully acquired Motortech.ai, a strategic move that will integrate Motortech.ai’s AIME product into the Fusion automotive retail platform.
This acquisition introduces an AI-based communication tool tailored for car dealers’ sales and service departments. AIME will be seamlessly integrated across essential components of Fusion, which include Vehicle Hub, Acquisition Hub, and Sales Hub.
Based in the UK, Motortech.ai specializes in developing software solutions for the automotive retail sector. Its flagship product, AIME, is designed to manage online customer interactions that would typically be handled through website forms or by sales personnel.
Keyloop asserts that this software can engage with customers at any hour, search vehicle inventory, provide finance quotations, assess part exchanges, gather test-drive preferences, and schedule appointments. This capability aims to minimize lost leads stemming from delayed responses and limited support during off-hours.
AIME also filters customer interactions, ensuring that higher-intent leads are directed to sales teams. By the time a lead reaches a staff member, the software may have already checked inventory, generated finance quotes, and assessed part exchanges, significantly reducing the time employees need to invest in each potential sale.
Tom Kilroy, CEO of Keyloop, positioned this acquisition within the broader scope of the company’s commitment to utilizing artificial intelligence in dealership software.
“The acquisition of Motortech.ai and the integration of AIME within Fusion mark a pivotal point in our AI strategy. By embedding specialized conversational AI directly into our platform, we’re providing retailers with always-on capabilities that engage customers and allow sales teams to focus on building relationships and closing deals,” explained Kilroy.
Dealer Results
Keyloop shared encouraging results from a dealer that has begun utilizing AIME on its website. The retailer implemented the system to enhance customer satisfaction and reduce reliance on various IT tools.
Over a span of three months, the dealer’s web conversion rate soared fourfold to 14.5%, as reported by Keyloop. Additionally, sales surged by 101% during the same timeframe.
According to Keyloop, the retailer achieved a remarkable profit of GBP £18 for every GBP £1 invested in the software. They also saved the equivalent of 19 full working days, enabling sales staff to dedicate more time to customer engagements.
Platform Enhancements
This acquisition bolsters Keyloop’s position in the realm of AI tools for automotive retail. Software providers are increasingly focused on assisting dealers in automating more aspects of the customer journey while still maintaining human touchpoints for high-value conversations. By incorporating AIME into Fusion rather than offering it as a standalone product, Keyloop aims to streamline customer communications with the broader systems managing inventory, websites, and sales processes.
This acquisition comes on the heels of an earlier agreement to purchase Motortech.ai, which was reached earlier in the year.
