ADESA adds retail values, spread calculations to CarValue valuation guide
Image courtesy of Carvana.
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ADESA is powering up its vehicle valuations.
The auto auction chain, a subsidiary of online auto retailer Carvana, announced it has expanded its CarValue valuation guide to include retail market value estimates and retail-bid spread calculations.
The company said the updates provide bidders on its digital auction platform with added transparency, confidence and convenience.
CarValue, which was launched last year, uses predictive technology and machine learning from more than 50 million ADESA data points and third-party data to generate sale price predictions. It’s designed to provides data-driven insights into potential profit opportunities in a single, embedded view.
In a news release, ADESA called CarValue “the most relevant and powerful valuation guide for buying and selling” with its platform, offering a “clear, current view that is up-to-date and location-aware” to help wholesale buyers and sellers make informed decisions.
“CarValue wholesale estimates have already become core to the ADESA digital toolkit, helping customers price and source inventory confidently,” Carvana senior director of marketplaces strategy and analytics Nikki Behrens said. “Now, with retail valuations and spread calculations, CarValue gives buyers an even clearer view of profit potential at the individual vehicle level, enabling faster, smarter decisions that maximize every transaction on ADESA’s digital platforms.”
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ADESA said the upgrade is among several to ADESA’s digital auction platform in recent months, following the addition of personalized vehicle recommendations based on buyers’ previous preferences and a direct integration with Stockwave to help buyers assess and source inventory through multiple channels.
