Carmigo offers new wholesale platform to speed inventory turn
Carmigo, an online marketplace and wholesale platform for dealerships, has launched what it calls its biggest product since the company’s founding.
Carmigo Turn is a new wholesale platform designed to help dealers isolate their slow-moving inventory and set an automated wholesale strategy from Day 1.
The company, which has focused on sourcing consumer cars for dealerships since its founding in 2020 and said it will continue offering those services, cited rapidly changing market conditions as the impetus for developing Carmigo Turn to help dealerships with their wholesale strategy.
“In 2023, used-car values started plummeting and days to turn for used cars is now at a five-year high,” CEO and co-founder Andrew Warmath said in a news release. “The data is undeniable — one of the most effective ways to protect your dealership’s profits in 2024 is to increase used-car turn.”
Carmigo said its inventory integration is at the core of Turn, allowing dealers to see their full inventory in one place, identify old-age cars, then list and sell them with a few clicks.
Carmigo Turn offers two ways to list aged inventory: the company’s one-day auction and the new Carmigo Marketplace, which is integrated with other nationwide marketplaces to automatically share listings to thousands of dealers nationwide.
“Our team has worked tirelessly developing Carmigo Turn into an industry-leading wholesale platform,” Warmath said. “We’re thrilled to provide this offering for our full user base and we look to welcome even more dealers into Carmigo’s dealer network in the coming months.”