Manheim has named Brad Burns as associate vice president of vehicle information, saying that the move takes place as digital wholesale continues as a primary source for buying and selling vehicles.
The move comes amid 81% of Manheim’s 2020 sales going to digital buyers.
Burns has been with Manheim for 17 years, and he has extensive client-facing experience, according to the company.
Burns will play a key role in leading the transformation of Manheim’s vehicle information. He will help boost client confidence across all Manheim Digital Marketplace platforms.
“We are on the cusp of tremendous change in wholesale that will help grow client confidence in transacting digitally and improve the way our industry does business,” senior vice president of Manheim Digital Solutions Zach Hallowell said in a news release.
Hallowell continued, “But to help clients be comfortable online, we have to be highly consistent about what information we collect, how we collect it and how we share that information. Brad’s close work with our clients over the years gives him the unique perspective needed to take Manheim’s Vehicle Information to the next level.”
For most of his nearly two-decade-long career, Burns has worked closely with clients across several Manheim operating locations.
His Manheim career began in 2003, when he served as a sales representative at what is now Manheim Central Florida. Throughout Florida, he served in several client-facing roles before his promotion to assistant general manager at Manheim St. Pete in 2014. He became general manager in 2017.
He led a Manheim location that specializes in under-$5,000 cars, helping him fully understand what the broader spectrum of clients needs when buying digitally.
Burns said that when Manheim went all digital last year, the under-$5K client base in particular experienced a bigger challenge.
Burns’ team members put themselves in the clients’ shoes, working closely with them to find out what they needed to know to buy cars online confidently and comfortably.
“We went from some of our clients choosing to conduct business digitally to everyone having to,” Burns said.
“And now we want people to want to,” Burns said.
Burns went on to say his team has listening intently to clients of all sizes, learning what they struggle with the most in the area of buying online. The team is taking big steps to give those clients the information they need and the way they need it, Burns said.
Generating a greater level of consistency in the information Manheim collects and how it displays that information is Burns’ first priority.
That work will begin with improving Manheim’s current tools, followed by using new technologies. Those include technology developed in partnership with newly acquired Fyusion and others currently in the pilot program stage.
Manheim said that in the vehicle information space, it created standard damage descriptions and AutoGrade.
Both of those brought a new level of consistency to wholesale inspections, Manheim said.
The company flipped the switch to all-digital sales in March, making enhancements to its vehicle information. That included more than doubling the number of images in condition reports.
Forming a client advisory panel focused on condition reports was another move, along with starting a condition report quality program with strong training of inspectors and increased auditing of condition reports and vehicles.
Manheim said the future of vehicle information will involve a combination of the top technologies with the most comprehensive data to produce detailed, objective and intelligent information about the complete condition of a vehicle. That information will be in the areas of cosmetic, safety, structural, and mechanical.
The company said that at several locations, it is currently piloting undercarriage imaging.
The goal of the pilot program is to have the largest inside-the-gate deployment of undercarriage imaging, which it describes as crucial technology.
Manheim is also continuing to roll out capabilities that deliver higher resolution imaging, as well as capturing more mechanical and safety data.
The goal of those capabilities is to create the best and most consistent condition reports so dealers feel the greatest confidence in buying digitally.
Stating that it will align core competencies from across its portfolio of companies in the areas of customer support, logistics, assurance, and titles, payment and funding, KAR Global said Thursday it has created a “customer experience center of operational excellence.”
The company said the center will simplify how customers interact and transact with the company. It will also result in a more consistent and convenient experience.
KAR also named the leader of the center: company veteran Keith Crerar, who is senior vice president and head of customer experience.
Creation of the center will “further optimize the digital buyer and seller journey,” KAR said.
The company said the recently announced ADESA and TradeRev integration adds to its digital services. The integration connects customers to both platforms with new single sign-on technology.
KAR said that customers through its digital marketplace services gain greater access to diverse inventory beyond their local markets. Through KAR’s unified approach, customers will see a modernized landing page. On that page, they can search, filter, bid and buy, which the company says creates continuity and a consistent experience across KAR’s marketplaces.
The strategic alignments will provide a quick and easy overall experience for KAR customers, the company said. That experience will be faster and easier in areas such registering as a new dealer, previewing inventory and run lists, and checking out, financing and transporting vehicles.
Also with the development of internal technology, customers will gain a unified contact center and support service with the data, customer history and operational insights to answer questions about transactions across KAR’s marketplaces. The technology could also help customers resolve additional issues that arise.
KAR president Peter Kelly said KAR is a “marketplace company,” and customers are at the center of everything the company does.
“Buyers and sellers expect a positive experience every time they transact or interact with us — and that’s what we aim to deliver,” Kelly said in a news release.
Kelly continued, “By unifying our operational teams and modernizing our customer-facing processes, we can mitigate some of the historical friction points in our industry while saving our customers valuable time and energy.”
KAR executive vice president and chief digital officer Tom Fisher said that with the accelerated shift to digital over the past several months, the company listened to customers about “what they needed to be successful in a virtual world.”
“We took all of that feedback and used it to formulate our refreshed CX strategy,” Fisher said.
Fisher continued, “Our team has the tools to enhance our support systems, logistics networks, arbitration procedures and vehicle title processes irrespective of where or how a customer purchases from KAR’s many marketplaces — whether online or at the auction.”
Crerar added, “We’ve already successfully calibrated our arbitration and assurance processes throughout KAR’s digital marketplaces, with 100% of procedures now consistent across any of our marketplaces."
Crerar continued, “Alignment within our other functional areas is also underway and accelerating. We want dealers to know that when you transact with ADESA, TradeRev or any KAR brands, you can count on the fastest, most dedicated and most personalized service in the industry. That’s our goal, and that’s our commitment.”
Manheim has released three new enhancements to its digital marketplace, stating that as wholesale remains largely digital, the ability for dealers to buy and sell online with ease has never been more important.
The company says those enhancements include significantly more images on vehicles checked in at a physical location, the opportunity to more easily transact at below-floor prices and an additional sale format.
Manheim has added the enhancements as its audience has grown, with sales attendance surpassing pre-COVID levels nearly 19%.
Manheim Digital vice president Zach Hallowell said that although wholesale remains mostly digital, the Manheim Marketplace is very active.
“As our teams work to instill greater buyer confidence when doing business digitally, these new enhancements are the first of several that we will be rolling out to improve the auction experience,” Hallowell said in a news release.
Vehicles brought to a Manheim location for sale will have a standard set of at least 15 images. That is up from seven images captured previously. Manheim said that will help dealers better understand a vehicle’s condition and allow sellers to better showcase their inventory.
Also, Manheim says the new OVE Review Window benefits both sides of the transaction, enabling sellers to move more inventory and helping buyers acquire vehicles at prices they’re willing to pay.
In addition, with new Flash Sales, buyers and sellers now have a quick bidding environment and special promotions, which Manheim says can bring them additional “excitement, exposure and deals.”
Manheim provided more details on each of the enhancements, and regarding the first one, the company says more images equal more information on vehicle condition. The company is investing in helping dealers make more confident digital purchases. That includes a strong focus on expanding available condition information.
All vehicles checked in at a Manheim location will have at least 15 images, and potentially up to 18, depending on vehicle features. The company said that is more than double the number of images included in the previous standard image package.
In addition, clients who already use Manheim’s imaging or condition report services will get that expanded set at no additional charge. New clients will pay only the previous seven-image price. The expanded package will begin rolling out in September, and all Manheim locations will offer it by the end of the year.
The company says more images can provide a clearer picture of the vehicle’s cosmetic condition. That is a major factor dealers consider when deciding to bid or buy, Manheim said. Following is the list of images dealers will begin seeing on vehicles listed from a Manheim location:
— Interior: trunk, odometer, manufacturer tag, left front interior (driver’s side), right front interior (passenger’s side) center dashboard, engine and driver door panel with controls
— Exterior: front, back, left front corner, right front corner, right back corner and left back corner
— Additional Images (if applicable): backseat, sunroof and third row
This is the first of several imaging enhancements Manheim plans to release. Those include undercarriage imaging, and Manheim is currently piloting that enhancement in Texas.
Regarding the second new enhancement, the new OVE Review Window, Manheim says finding the right inventory at the right price has been challenging for some dealers in today’s high-wholesale-price environment.
However, dealers using Manheim’s OVE platform will now experience the availability of the new OVE Review Window, which will provide additional opportunities to win vehicles at below-floor prices.
If a vehicle has bids below the floor price, a two-hour window will open at the end of the sale. That will allow sellers to review the highest bid and decide whether to close the deal.
Also with the OVE Review Window, sellers can list vehicles on OVE with bids below the floor price. Manheim says that the market is “ever-changing,” and the company said that with the capability, the Review Window helps sellers fully access market values.
That allows sellers to move inventory on their terms, Manheim said.
The third enhancement is a new sale format called Flash Sales, which Manheim said is an additional option for its clients to buy and sell vehicles digitally.
The company said these sales are an alternative to the daily listing schedule and will feature rotating sellers and “appealing promotional offers” for just two hours.
Participating sellers receive services such as featured marketing on OVE and targeted marketing support. Buyers receive rotating promotions. A complimentary DealShield Purchase Protection Guarantee on all purchases, as well as inventory priced under $10,000 are examples of some recent promotions.
These enhancements come after two recent digital integrations between vAuto and Manheim. The first is a new feature in vAuto’s Provision that allows clients to request a Manheim Express Concierge specialist. With that feature, clients can more “quickly and effortlessly” get their inventory listed right from their lots.
With the second integration, vAuto’s Stocking Grade and Strategy Action now appears within the recommended vehicles carousel on Manheim.com.
The company said that with that integration, dealers can quickly see how suggested vehicles fit with their current business plans.
A startup virtual auto auction platform offering 360-degree condition reports said in a news release on Wednesday that its marketplace and auction platforms are open for business.
That platform is called, LaneX.bid, and its founder and chief executive officer says its structure of conducting live events entirely online “provides maximum health and safety protections for customers.”
The company said its business model allows it to offer buy and sell fees of $200 and $100, respectively.
LaneX.bid founder and chief executive officer Ben Schwarz said that during the COVID-19 pandemic, opening a new business has been a “unique challenge.”
“Thankfully, our entire business model is built around a virtual auction platform,” Schwarz said in a news release.
Schwarz said the platform does not host in-person auctions.
“Instead, ours are live events with actual auctioneers, conducted entirely online,” he said, adding that it is more efficient and “allows for a much better experience.”
Schwarz said he developed technology partnerships that help LaneX.bid function well as a virtual auto auction. The online auction platform is patented technology developed and hosted by Auction Streaming.
The 360-degree images and condition reports are powered by Fyusion. To transport purchased vehicles, logistics partner ACERTUS connects LaneX.bid with pre-approved, vetted carriers.
“We architect software systems that are ahead of its time and rely on forward thinking partnerships like LaneX.bid with the same vision to make it materialize into a streamlined profit-making machine,” said Auction Streaming founder and chief executive officer David Vahman.
Joe Kramer, senior vice president of Auction Streaming and Autoxloo, said LaneX.bid has “become the new standard of automotive wholesale remarketing.”
“LaneX.bid changes the paradigm of how vehicles are sold, traded and delivered, bringing instant value to participating dealerships and auctions alike,” Kramer said.
Fyusion chief executive officer and co-founder Radu Rusu said his company is happy to provide LaneX.bid customers with a 360-degree view of vehicles up for auction.
“We are pleased to partner with LaneX.bid to create an innovative solution that will improve the auction experience for many auto dealers,” Rusu said.
Rusu continued, “Like Fyusion, LaneX.bid is looking to the future of automotive wholesaling, and responding to changing customer needs. We look forward to building a great customer experience together.”
ACERTUS co-founder and chief executive officer William Billiter said the timing is right to re-think how cars are bought and sold at the wholesale level.
“It’s always exciting to partner with fellow industry innovators to create powerful technology solutions to streamline automotive logistics,” Billiter said.
Billiter continued, “Amidst these unprecedented times, the auto remarketing industry is ready to embrace a new wave of digital transformation to buy and sell cars. Through this strategic partnership, ACERTUS will serve as a fast, reliable transport solutions provider to help increase speed to market and maximize vehicle value during a time when buyers and sellers need it the most.”
Prospective buyers and sellers can register at https://www.lanex.bid/dealer-registration.
Integrated Auction Solutions president John Lilly says digital wholesaling “is no doubt the future.”
“But we believe the first step is optimizing an auto auction’s internal processes, workflows, and financial reporting,” Lilly said in a news release.
With that in mind, the company launched AuctionMaster, its next generation wholesale auto auction management system, at Northern Utah Auto Auction in North Logan, Utah.
Lilly describes AuctionMaster as the foundation of the IAS Digital Wholesaling Platform.
The platform includes IAS Simulcast and IAS CoRe Condition Report Writer tool.
He said that with AuctionMaster, auto auctions gain access to a browser-based product on any web browser or mobile phone.
NUAA owner/general manager Chris Williams said the auction’s team is pleased with the launch of the IAS next-generation AuctionMaster.
“Combined with IAS Simulcast, IAS Marketplace and IAS CoRe, we believe we are positioned well to control our expenses while driving revenue growth both in-lane and digitally,” Williams said.
Williams added, “As we look to provide exceptional service to our dealer buyers and help them source the ‘right’ vehicles at the ‘right’ price, we believe IAS provides an opportunity for us to continue to sell cars in ‘brick and mortar’ auctions, but also provide the opportunity for dealers to buy cars in a digital marketplace.”
Lilly added, “IAS’ Digital Wholesaling Platform enables our auction clients to sell cars in-lane to floor bidders, on-line to Simulcast bidders, or digitally in a fully transactional, digital marketplace. That is pretty powerful.”
A picture is worth 1,000 words. But Manheim vice president of offsite solutions Derek Hansen says, “audio/video files are even better.”
Manheim says audio and video tags that it has added to its Manheim Express listings bring the sound of vehicles to life. With the tags, buyers can get a fuller understanding of the engine’s condition, according to the company.
The tags allow dealers to see engine vibrations, more easily assess the engine condition and hear how it purrs … or doesn’t purr. With the tags, “Potential buyers can see — and hear — for themselves and make even more informed purchasing decisions,” Hansen added.
In addition to adding audio and video tags, Manheim has added interior 360 imaging.
Manheim says dealers interested in buying wholesale inventory online can now hear the sound of an engine—and see more than ever before, which gives buyers “utmost confidence in their purchases.”
Dealers can find the listings in the Manheim Express app or on the Manheim.com and OVE, and Manheim says it brings listings closer to an in-person look. Dealers can now “digitally kick the tires,” and the result is even more informed digital purchases, Manheim said.
Dealers’ ability to see things like engine vibrations hear the sound of the engine are “key pieces of information” that Manheim says can help dealers determine the potential level of reconditioning needed, and it can influence purchase price.
Interior 360s bring Fyusion technology for vehicle exteriors inside the vehicle. Now, Manheim says, interior features that are present or the condition of the seats, dash and more, will no longer be in question.
Manheim says the new functionality adds to the multimedia capabilities in the Manheim Express app, where listings feature exterior 360s, a standard set of high-resolution still images, and moveable images that show depths of dents and dings.
The audio and video tags and the interior 360s will be available on all listings that a Manheim Express Concierge specialist completes. For no additional cost, an expert does all of the listing legwork and consults on wholesale strategy. Also through the app, sellers can request concierge service.
In other Manheim news, the company launched what it says is its largest all-digital heavy truck auction on Jan. 8 at its Indianapolis location.
Manheim said the move further supports the company’s growing investment in digital blocks. The sale included more than 350 units and 387 online and in-lane bidders.
Manheim Indianapolis is part of the company’s all-digital specialty auctions that include RVs, motorcycles and trucks.
“Our biweekly truck sale is Manheim’s largest heavy truck auction nationwide,” said Manheim Indianapolis and Manheim Cincinnati general manager Emily Decker.
She continued, “It includes Class 4-8 commercial trucks, tractor trailers and other equipment. Moving to a Digital Block format offers a safer and more efficient experience for our clients and employees, as well as significant environmental savings.”
The three-lane format is a live auction. The trucks remain parked in designated spots and an auctioneer offers them for sale digitally through oversized monitors that feature enhanced images, barcode price scanning capability and condition report information.
According to Manheim calculations, the switch to an all-digital format — as opposed to driving trucks through physical lanes — will offset an estimated 284 tons of carbon dioxide each year.
That is an amount equal to the annual electricity use of 45 homes, according to Manheim.
“Safety always comes first,” said longtime Manheim partner Paul Seger, who is executive vice president, asset remarketing for Element Fleet Management Remarketing.
Seger continued, “Going digital for the sale of our heavy truck assets not only instills safety, but also improves efficiency and establishes consistency for our truck buyers nationwide. Because so many of them are already comfortable with Manheim’s Simulcast online bidding platform, we feel this transition to all digital will be very well received.”
Manheim says that in 2019, its “digital journey” marked several milestones. Manheim Tucson became the first location to convert all lanes to digital blocks. Its digital wholesale channels surpassed 2 million transactions.
Digital Blocks now comprise 20% of the lanes at physical locations nationwide, Manheim said.
“As we celebrate 75 years of providing wholesale solutions for dealer and commercial clients, we are excited about expanding our digital marketplace to achieve greater efficiency, improve the experience for clients and foster a culture of safety,” said Manheim president Grace Huang.
ADESA president John Hammer says sellers have asked for “a more transparent snapshot of their inventory going through the lanes and up for bid.”
“Our new remote seller dashboard allows them to see bid performance on each vehicle and how it compares to their set reserve, guidebook and the ADESA Market Guide national average — giving sellers actionable insights on bid activity,” Hammer said in a news release.
Hammer was referring to ADESA’s launch of an advanced ADESA Simulcast remote seller dashboard that showcases at-a-glance, vehicle-specific auction participation, bid activity, vehicle values and vehicle comparisons.
The company says that through the dashboard, sellers get instant access to auction sales performance of their vehicles.
That, according to the company, helps them make better-informed decisions, from the comfort of their offices, in real time.
A “sale overview widget” is part of the dashboard. That “widget” keeps count of a seller’s transactions and updates in real time, according to ADESA.
Also through the dashboard, sellers can monitor sale statistics for mileage, price, grade averages, reserve overs/unders, and vehicle sell, if or pass totals. Also included in the dashboard: Detailed floor activity and auction attendee, bidder and purchaser statistics.
In addition, through the dashboard’s real-time chat function, remote sellers can communicate directly with the clerk and auctioneer. Customers can export detailed reports of their sale activity and buyer information. With search functionality, users gain access to reports based on information such as sale totals, averages, percentages and buyer information, according to ADESA.
“Some of our sellers may be managing hundreds of vehicles through our auctions at any given time,” Hammer said.
He continued, “Our new remote seller dashboard helps them better track their sales in real time, and our historical reports help them boost sales performance over time.”
TradeRev president Becca Polak says the Kansas City and Minneapolis markets include “highly-concentrated networks of savvy dealers.” Those dealers, she said, want tools to help them take their businesses to the next level.
With that in mind, digital platform TradeRev said on Tuesday it was entering those two markets. The company said in a news release that increased dealer demand for TradeRev’s platform, expanding seller network and improved end-to-end customer experience, led to the Midwest expansion. The company also said it continues to rapidly expand across the nation.
In the Kansas City and Minneapolis markets, a team of TradeRev representatives will help dealers fully integrate the TradeRev mobile app, including its AI-driven, image-capturing tool H-Vision, into their dealerships’ inventory buying and selling process.
TradeRev is a business unit of KAR Auction Services Inc., and the company said TradeRev’s Kansas City and Minneapolis customers can use KAR’s ancillary service capabilities for an expanded coast-to-coast marketplace.
With access to TradeRev technology such as its H-vision feature that it says fully automates condition report visualization, those customers can launch auctions anytime, anywhere, according to TradeRev. From mobile devices, dealers can launch live, 45-minute auctions, and they can watch while live bids come in from across the country.
TradeRev also says that with its technology, dealers can sell more cars, with the ability to receive bids even before the retail deal is done. Customers receive real-time trade-in value and transparency, TradeRev said, which it said helps dealers make a sale faster.
The company also said the technology gives its customers flat-fee transportation, which comes through its partnership with the KAR business unit CarsArrive Network. TradeRev said that with flat-fee transportation, TradeRev buyers gain access to nationwide trade-in markets.
TradeRev said it is free for dealers in Kansas City and Minneapolis, and they can experience an accelerated registration process. Dealers can complete registration and begin performing transactions in as little as 10 minutes, according to the company.
Manheim is growing its Manheim Express Concierge force to personally help dealers who list their vehicles for sale through digital channels.
That is just one of three enhancements to the Express mobile app that Manheim is rolling out.
Manheim, noting that dealers continue turning to digital channels to buy and sell vehicles on their time and terms, continues to enhance its Express mobile app, which it says makes it easier for dealers to use its wholesale used vehicle marketplace.
A second enhancement to the Express mobile app is enhanced “Make an Offer” capabilities that the company says help attract more buyers for Manheim Express listings. Expansion to Manheim’s Trade Desk team, which Manheim says will help match inventory to likely buyers and facilitate faster inventory turn, is the third enhancement.
More on the first upgrade: Manheim launched its Manheim Express Concierge Service nationwide in February. The service provides dealers with a dedicated expert who helps them sell vehicles more efficiently in the wholesale marketplace, according to Manheim. The company said in a news release that the Concierge force launched across the country just a few months ago, and the force is growing nearly 80 percent based on dealer demand for expert guidance and a hands-off way to get their vehicles listed quickly.
Manheim vice president of Offsite Solutions Derek Hansen said dealer demand for the Concierge service is growing daily.
“Sellers enjoy the advice our specialists provide, as well as the ability to move their inventory quickly without having to invest much of their own time in the process,” Hansen said. “Meanwhile, buyers have more vehicles available to purchase, as specialists help dealers get more vehicles into the wholesale marketplace faster.”
With the second update to Manheim Express — expansion of “Make an Offer” functionality — dealers can select any combination of purchase options they want to offer potential buyers. Manheim says that with dealers having those options — which include “Bid,” “Buy-Now” or “Make an Offer,” — provide more flexibility to dealers in how they market their vehicles. Manheim says that helps make their listings more appealing to a larger group of potential buyers.
Regarding the third enhancement, Manheim’s Trade Desk team is expanding. The company created the team to build relationships with buyers and serve as a their “personal shopper.” Identifying vehicles of interest for buyers and helping close deals for sellers are roles for the Trade Desk team. With advanced search technologies, Trade Desk team members can proactively reach out to buyers and match them with Manheim Express inventory that most likely will appeal to them.
Manheim said that it sold more vehicles through digital channels than ever before in 2018, with more than 2 million digital buyers acquiring vehicles. The company expects that trend to increase in 2019 and beyond. Manheim said that because of that, Manheim and Cox Automotive will continue investing in new products and services for faster and easier digital transactions for clients.
“We launched the Manheim Express app because we heard our dealer clients wanted access to the Manheim Marketplace in the palm of their hand,” Hansen said. “The response from dealers has been phenomenal, and we’re continuing to bring new features and services that help make it even easier for them to buy and sell when and where makes the most sense for them.”
KAR Auction Services chairman and chief executive officer Jim Hallett calls its 2011 acquisition of upstream remarketing platform OPENLANE a significant milestone for KAR “that ignited the digital transformation for our company and really, for the entire industry.”
“Throughout the years, OPENLANE has continuously reset the bar for upstream remarketing through invention, innovation and signature entrepreneurial spirit,” Hallett said in a news release.
OPENLANE is now celebrating a milestone of its own: its 20-year anniversary. KAR says that in celebration of OPENLANE’s 20 years, the platform will unveil various new enhancements, releases and promotions for the duration of this year. KAR says that coming soon, the platform’s self-inspection capabilities will benefit customers beyond traditional remarketing by connecting them better with dealers and retail customers throughout the lease lifecycle.
OPENLANE, which provides data analytics and technology offerings for more than 40 upstream marketplaces supporting 80% of North America’s private label brands, has facilitated the sale of more than one million vehicles on behalf of its customers in the last year.
The platform has come a long way since it was founded as Autodaq in 1999 in San Francisco. After its founding, the company grew through several strategic acquisitions and rebranded to OPENLANE in 2008. KAR president Peter Kelly was a co-founder of OPENLANE, which operates out of three technology and innovation hubs in Mesa, Ariz.; Toronto, Ontario; and Carmel, Ind.
KAR now describes OPENLANE as “the world’s largest, most trusted and most utilized upstream remarketing platform for OEM, captive finance, financial institution and fleet customers.”
KAR has invested in OPENLANE over the past two years to accelerate the deployment of new enhancements and capabilities. It has completely re-engineered the platform and added what it describes as a more personalized, responsive user experience, stating that its all-in-one digital, mobile and virtual marketplace “is more intuitive and easier to use.”
The new vehicle “smart” search functionality streamlines dealer buying, according to KAR. The DRIVIN-powered recommendations engine matches supply and demand, which the company says helps customers make better informed decisions more quickly.
“By combining first-rate technology from partners like Salesforce and Red Hat with the specialized expertise of our in-house team, OPENLANE customers get the best of all worlds,” KAR’s chief strategy officer and president of digital, data and mobility services Don Gottwald said.
Other recent innovations: The company last year announced a “reimagined” version of the upstream vehicle auction platform designed to help OPENLANE’s 40-plus OEM and financial institution customers more efficiently sell cars upstream.
The upgrades include data science capabilities built by KAR’s DRIVIN business unit and artificial intelligence via TradeRev, which is also a part of KAR.
KAR acquired DRIVIN in 2017 and also completed the acquisition of TradeRev in 2017.
Through analysis of millions of vehicles and thousands of dealers each day, DRIVIN provides predictive pricing recommendations to customers. Its algorithms are designed to curate lists of ideal buyers for upstream sellers based on demand.
TradeRev’s AI platform, known as “H,” launched last year. The company said H allows OPENLANE customers to generate condition report images “in just seconds.”
“Our 20th anniversary is a big year, as customers will get to experience positive returns on OPENLANE’s investments and aggressive product pipeline,” Gottwald said. “From the new responsive design to DRIVIN intelligence to integrated self-inspection tools, we’re upholding OPENLANE’s tradition of delivering customer-centric solutions at the leading edge of remarketing.”
