Buycentives takes on $35 billion auto-buying incentive market

Wednesday, August 26, 2009 | Source: Concentrate
Pretty much no one buys a car these days without some sort of buyer's incentive. This market in the automotive industry represents $35 billion annually, or $140 million a day, and Buycentives wants just a small slice of it.

"It's a huge amount," says David Goldschmidt, who co-founded Buycentives with Sean Murphy.

The year-old start-up specializes in making sense of this big, bloated morass of incentives for both sellers and buyers. Its software lets automakers target small groups or even individual consumers with the right incentives. It also helps make sure buyers get the best bang for their buck.

This helps auto manufacturers eliminate inefficiencies in the buyer incentive pool, saving money. It also helps them track what their customers want and find out what sparked their interest in the first place.

Buycentives, which is currently headquartered out of Ann Arbor SPARK's Central Incubator space in downtown Ann Arbor, plans to have launched its technology and signed up the major automotive manufacturers within the next year. Goldschmidt expects that will lead to some staff hiring.

"A year down the road, I think it's going to be more than just a handful of hires," he says.

Source: David Goldschmidt, co-founder of Buycentives
Writer: Jon Zemke
Enjoy this story? Sign up for free solutions-based reporting in your inbox each week.

Related Tags

Entrepreneurship, Software Design 

Recommended Content

Related Company

  • Ann Arbor Spark
    201 S. Division, Suite 430
    Ann Arbor, Michigan 48104 Website
    Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to ...
Sponsored By
Regions
Focus Areas
Copyright © Issue Media Group. All rights reserved.