RecovR Solves Misplaced Car Key Woes for Consumers and Dealerships with Launch of "RecovR for Keys"

CHESEAUX-SUR-LAUSANNE, Switzerland, and PHOENIX, AZ, USA, October 24, 2023 – Kudelski IoT, a division of the Kudelski Group (SIX: KUD.S), the world leader in digital security and IoT solutions, today introduced RecovR for Keys. This innovative key tag promises to revolutionize vehicle key management for dealerships and consumers alike. It streamlines dealership operations, enhances the customer buying experience, and provides dealers with a valuable, profitable technology solution and key replacement program to offer new vehicle buyers, simplifying their lives and reducing the frustration of lost keys.

RecovR for Keys is the latest extension to the Kudelski IoT’s successful RecovR product line, which has revolutionized automotive retail with its lot management and vehicle theft recovery solution that relies on a small, wireless, battery-operated locator device that lasts for years. RecovR for vehicles will be deployed at nearly 900 dealership locations across the U.S. and Canada by year end.

For consumers, RecovR for Keys ensures they get to take a test drives at dealerships faster because it reduces the wait times associated with misplaced and lost keys. Consumers can then purchase RecovR for Keys from their dealer and use its powerful smartphone app to provide a unified view of the location of all their vehicles and keys protected by RecovR. When keys are lost or misplaced, the app shows their last known location and a simple button press activates a flashing light and audio signal on the key tag to aid in tracking them down, even in difficult-to-find places. If keys can’t be found, RecovR eliminates replacement costs by providing a free key replacement and roadside assistance program. This represents a significant savings, as replacement costs have increased dramatically, with the average cost now approaching $750.

"At RecovR, we've always believed in creating technology solutions that directly resonate with consumer needs. With RecovR for Keys, we're empowering car owners with more than just a product; we're providing peace of mind,” said Patrick Hauert, SVP of Product & Marketing at Kudelski IoT. “Imagine never having to worry about losing your car key, knowing you can swiftly find it and move on with your day without delay. That's the kind of real, life-enhancing experience we aim to deliver for every consumer through our network of dealership clients, which in turn enhances their revenue and their brands.”

For dealerships, RecovR for Keys significantly reduces the time staff spends looking for keys, which – despite modern key storage systems – often end up in staff desk drawers, pockets, or even homes, causing significant sales delays or even an inability to sell cars. The solution gives dealership staff a user-friendly app and Dealer Management Systems (DMS) integration that lets them efficiently find both keys and vehicles throughout the entire dealership. This streamlines operations and frees staff to focus on what really matters: sales and customer satisfaction, and increases their revenue by giving them a compelling product to sell to new car buyers.

"Our dealership has already experienced the tremendous value of RecovR for Keys. The time saved on locating keys and the reduced costs of key replacements have truly transformed our operations," commented Dennis Gingrich, Sales and Finance Director for the Niello Company. "From a customer standpoint, the difference is palpable. Test drives start quicker, vehicle turnaround times are reduced, and overall, the purchase process is smoother and more enjoyable," added Gingrich.