As vehicles become increasingly complex, so do vehicle keys.

“Over the last three decades, automotive manufacturers have continued to add new features to their keys,” Louisville, Kentucky-based Car Keys Express explains in a new whitepaper. “Although small in size, automotive keys contain a surprising amount of complex technology. More recently, they have added convenience features such as remote start or trunk release.

“The automotive key has continued to evolve even further and is often ‘smart,’ allowing the owner to enter the vehicle by just being in close proximity – without pressing any buttons. A modern car may even be able tell who is entering the vehicle and adjust the seat, mirrors and even your preferred radio channels.”

As automotive keys have evolved, their cost has increased exponentially. Today, a replacement key can cost more than $500.

And thanks to the variety and complexity of vehicle keys, OEMs have “virtually ‘locked out’ retailers and manufacturers from entering the automotive-key business,” the company asserts.

However, Car Keys Express, which manufactures aftermarket versions of modern car keys, say its services enable retailers to take advantage of the “ripe” opportunity to offer replacement keys.

“Consumers want alternatives to the time, expense and hassle of a dealership appointment,” the company says in its whitepaper. “The nature of keys and their portability means they are often damaged, lost or stolen, so repairing or replacing keys is a common consumer issue.”

Car Keys Express offers a complete retail key-replacement program that includes tools, universal keys, ongoing support and employee The company’s patented frequency agile transmitter allows hundreds of keys to be consolidated into a few, similar to how a universal TV remote works, according to the company. Reducing SKU count significantly lowers inventory cost and complexity.

“These innovations have removed the significant barriers that have kept retailers away from automotive keys for decades,” the company says.

To download the whitepaper, click here.