America’s Auto Auction has named a national sales director for its 12 auctions, appointing Tammy Swofford to the role.
“We are pleased to announce the promotion of Tammy Swofford to national sales director,” said Jeff Bunch, chief operations officer of America’s Auto Auction. “Tammy has worked in the auction and remarketing industry since 2005, handling both in-lane and online sales and managing fleet, lease and dealer business.
“Since joining America’s Auction in 2013, she has demonstrated a keen understanding of all facets of our auction operations, and has developed a record of distinguished performance as she has trained sales teams and expanded our fleet/lease and dealer customer base,” Bunch added. “We are confident that in her new role as national sales director she will continue to play an important role in our company’s growth and success.”
In the new position, Swofford will work with regional and national fleet/lease accounts to broaden the market share of America’s Auto Auction.
Additional responsibilities include training local sales teams and working with local dealer groups to grow dealer participation throughout the company’s auctions.
“As the fastest growing auction company in the country, America’s Auto Auction maintains a keen focus on both buyers and sellers in order to nourish healthy local markets and build strong foundations for institutional remarketers,” said Bunch. “We are proud to have Tammy on America’s team and know that each of our auctions will benefit from her expertise and commitment to superior service.”
Along with discussing two elements impacting the revenue stream at Insurance Auto Auctions as well as more auction locations that might become part of the company, KAR Auction Services chief executive officer Jim Hallett said the company is seeing volume growth both in the physical lanes as well as its online-only channels.
What especially impressed investment analysts was how ADESA reported a 14-percent volume in the second quarter as Wall Street observers noticed the industry-wide improvement came in at about 9 percent.
“I’d say that we look at those numbers with a little bit of caution. We were at 14 percent and the industry did report 9 percent,” Hallett said when KAR hosted a conference call to discuss its Q2 performance.
“But we really don't put a lot of credence in those numbers until we get a year-end result and we get a full report,” he continued. “But with that said, our commercial business is very strong. And all segments are doing well. And that’s right in our kitchen.”
Also cooking nicely in KAR’s wholesale kitchen is dealer consignment. Hallett described it as a “phenomenal job” that the company as a whole generated a 7-percent lift in dealer consignment in Q2.
“Many of you go back in history with me to where in 2009 our dealer consignment business was at 25 percent of our total business,” Hallett said. “And we knew with the headwinds that we were going to face on the commercial side that we had to get a lot better with dealer consignment.
“This is probably one of the initiatives that I’m most proud of is the fact that we’ve been able to take that dealer consignment up to 50 percent of our business and not just take it up, but to hold it there,” he continued.
Not only is KAR seeing a steady flow of dealer consignment volume, the company is also witnessing its lanes filling with units from other segments of the wholesale market, too, trends that Hallett is expecting to see continuing for the foreseeable future.
“Our customers have told us that off-lease supplies in the second half of 2015 will be stronger than what they were in the first half of the year,” Hallett said. “And the number of cars selling online only is growing, but not as fast as the supply of off-lease vehicles. The good news is this is driving strong physical auction volumes.
“We knew that volume was going to increase, but I think the pleasant surprise was all segments were really improving,” he continued. “When you think about, we often just focus on the fleet, lease and repo, obviously this is heavily driven by the fleet lease and repo segments. But you know what, we’ve seen a large increase in factory cars. We’ve seen an increase in daily rental cars.”
Expanding footprint
KAR is still on the hunt for more locations even though another site near Pittsburgh is already in its portfolio and a green field is coming together in the Chicago market.
“We’re still very much a believer in brick-and-mortar auctions,” Hallett said. “We believe that not only does it give you a physical site that allows you to also grow your ancillary services and your revenues, but it also gives you another customer base that grows the customer base, and contributes to the online customer buying base as well.”
Hallett then reiterated that KAR remains interested in acquiring more independent auctions and bring them into the company umbrella.
“We did identify there’s probably five to 10 of them, as you mentioned, in the country. I didn't say we're going to get all five or 10 of them done anytime soon,” Hallett said. “But we are always in communication with the independents. We have good relationships with the independents, and I think you'll see us complete Chicago, and I think you can expect that we would be opportunistic as more of these opportunities become available.
“You would see us act on specific ones if they contribute to the geography and the customer mix and the strategy that we're looking to build on overall,” he went on to say.
KAR chief financial officer executive vice president Eric Loughmiller then interjected that the company would “be disciplined on how we value the businesses as well.
“That’s part of what drags these things out is we're very disciplined on how we value the physical auction businesses,” Loughmiller added.
Factors influencing IAA’s revenue
Insurance Auto Auctions generated an 11-percent revenue increase during the second quarter. Perhaps the jump might have been higher, but Hallett indicated that “commodity prices have continued to be depressed, impacting the lowest value vehicles sold there, and therefore affecting our buy fees.”
Loughmiller explained how the company examined the situation further to prepare for its Q2 report. He examined selling prices for salvaged vehicles in the second quarter and compared them to a year earlier.
“I found it interesting that we sold more than two times the number of cars in Q2 2015 than Q2 2014 at a value of $300 or less,” Loughmiller said. “This clearly demonstrates the impact commodity prices are having on the value of salvaged vehicles, especially the lowest value vehicles.”
Beyond commodity prices, another investment analyst wondered if IAA is seeing insurers put additional pressure on the company to keep costs low as vehicle accidents rise, perhaps impacting KAR’s ability to generate more profit by this division.
“Really the pressure comes from service-level agreements that are embedded in these insurance contracts,” Loughmiller said. “The pressure I would describe as we're expected to pick up the cars faster. It helps to reduce the cost of storage and things that the insurance company might be incurring prior to it getting to the salvage yard. Again, the model works very well for us and I'd say the pressure is really focused on the tow cost.”
Up next in our Q&A series from the Power 300 issue of Auto Remarketing, we turn to the auction world and connect with Geoff Parker, general manager of ADESA Cincinnati-Dayton.
Auto Remarketing: What are some of the top challenges you’re seeing in the wholesale market this year, and how is your auction overcoming those hurdles?
Geoff Parker: One of the main challenges we have been addressing is the advantage shift from seller to buyer in the auction industry as a result of the increased volume of inventory. From the recession up through last year, inventory had been much tighter, which drove up the value of what was available at auction.
Now, however, with volume steadily increasing, values are coming down slightly, which has been an adjustment for our sellers. One way to help overcome this is with detailed, accurate condition reports online and representing the product as best as possible. This ensures that inventory continues to move quickly and well.
We believe that providing outstanding service each and every time is the best way to overcome any market challenge.
AR: We’re hearing a lot about the importance of condition reports. How does your auction emphasize to sellers the benefits of including these on the vehicles they sell?
GP: As part of our commitment to providing the best possible service to our customers, including our sellers, we make it a priority to highlight and explain the benefits of including an accurate and thorough condition report with each vehicle at every opportunity.
From gathering insight from our buyers, we know that dealers find important value in condition reports — they increase confidence, and they save time, because dealers know going into the auction the exact condition and details of the cars they want to purchase, making the in-lane or online decisions faster and easier.
In today’s mobile-driven world where buyers are scouring websites and apps prior to auction day to help guide their purchasing decisions, providing complete, accurate condition reports offers sellers a competitive edge.
AR: How is your auction adapting to an increasingly digital auction environment?
GP: We are adapting to the increasingly digital auction environment by investing in and implementing innovative technologies that makes the buying and selling process easier for our customers.
We understand that many dealers today are conducting business from both their laptops and smartphones, so ADESA and our parent company, KAR Auction Services, have made a strong commitment to continuously invest in technology that makes doing business any time, from anywhere, even easier.
For example, we offer apps like LiveBlock that allow dealers to catch all the action at our auction as it’s happening live, and the opportunity to bid alongside other dealers in real time.
The app lets users view vehicles before they hit the auction block, save vehicles to their Watch List, bid on vehicles in up to four lanes at once, and participate in more than 10 lanes.
This is particularly useful for dealers that need a specific car not in their region — say a dealer in San Francisco needs a car only found at ADESA Cincinnati/Dayton.
They can purchase it through the app, and even arrange transportation through CarsArrive, another KAR business unit that is North America’s leading provider of automated vehicle-shipping services.
We also offer a Marketplace mobile app that enables users to search for inventory across all ADESA sites, locate specific cars on the lot by using the GPS function and access vehicle information by scanning the VIN. These offerings are enormous time savers, making the research, buying and selling process more efficient, and allowing us to provide better service.
On the auction-specific level, we have piloted a new automated photo booth that takes detailed photos from our cars at every angle, and automatically uploads them into the vehicle’s condition report.
The photo booth is located at the end of the detail shop, when the car is as clean as possible. This technology makes the photo process more efficient, and it provides consistent, accurate photos for our buyers.
AR: Lastly, what do you enjoy the most about being in the remarketing industry?
GP: I love the auto remarketing industry for a lot of reasons, but there are two that stand out. The first is how many people you get to interact with each week. As a general manager, I get to work with 600 to 700 people each week on auction day.
Second, going hand-in-hand with this, is how much fun it is to interact with so many different people, and how it makes every day unique. The auction environment is always exciting. There is never a dull moment because it’s an ever-changing environment. I look forward to coming in to work each day, because I know it’s going to be fresh and fun.
Other features in this special section include:
4 questions with NextGear’s Brian Geitner
4 questions with NADA Used Car Guide's Larry Dixon
4 questions with Infiniti CPO manager Sam Liang
4 questions with Black Book’s Anil Goyal
4 questions with Autotrader president Jared Rowe
Fueled by double-digit improvements year-over-year within three of its largest divisions, KAR Auction Services finished the second quarter with a 17-percent jump in net income.
KAR officials said this week that their Q2 revenue came in 12 percent higher at $658.3 million, up from $585.6 million in the same quarter a year ago. For the quarter that ended June 30, the company’s adjusted EBITDA climbed 10 percent to $170.0 million, up from $154.1 million.
And that 17-percent jump in net income propelled KAR to a figure of $0.41 per diluted share or $59.5 million. That’s higher than the year-ago marks of $50.8 million, or $0.36 per diluted share.
Looking at the company’s top-line metrics at the halfway point of 2015, KAR reported these year-over-year gains:
— Revenue of $1.291 billion, up 10 percent from $1.169 billion
— Adjusted EBITDA of $332.2 million, up 10 percent from $301.2 million
— Net income of $114.0 million, or $0.79 per diluted share, up 59 percent from $71.5 million, or $0.51 per diluted share
Company officials also highlighted the second-quarter performance of its three main divisions, ADESA, Insurance Auto Auctions and Automotive Finance Corp. Those results included:
ADESA
— 14 percent volume and revenue growth and 17 percent growth in adjusted EBITDA
— 13 percent physical volume sold growth
— 0.5 percent expansion in adjusted EBITDA margins to 25.5 percent
IAA
— 14 percent growth in volume
— 11 percent growth in revenue
— 8 percent growth in adjusted EBITDA
— Inventory increased approximately 18 percent year-over-year
AFC
— Achieved growth in volumes, revenue and adjusted EBITDA of 13 percent, 8 percent and 3 percent, respectively
— Amended U.S. and Canadian securitization facilities resulting in a $225 million increase in committed liquidity and extension of facilities’ maturity dates to June 2018
— Managed receivables at June 30 stood at $1.477 billion, an increase of 26 percent year-over-year
Editor’s note: For more details about KAR’s recent performance including commentary from management, watch for a report in an upcoming edition of Auto Remarketing Today.
The management team at Corry Auto Dealer’s Exchange, along with nearly 1,000 participants, is counting down the days to the third annual Barber Beast on the Bay — a fundraiser for the Barber National Institute.
Corry ADE officials highlighted the main event kicks off on Sept. 12 with an exciting day of activities that includes a grueling 10-mile extreme obstacle course challenge at Presque Isle State Park. A 1-mile adapted course for participants with physical or intellectual disabilities is also part of the day’s line-up that includes music, food, cheer zones and plenty of fun.
The Barber Institute was founded in 1952 by Gertrude Barber, an educator in Erie, Pa. The organization has grown into a multi-faceted organization that serves more than 4,200 individuals per year, offering support and resources to children and adults with autism, intellectual disabilities and mental health challenges.
“As a local business, being a part of the community effort is so important,” said Tad Swift, Corry ADE auction manager and family spokesperson for the facility that has served the industry for more than 30 years.
“Being part of Barber Beast on the Bay is a great opportunity to express our gratitude in a truly meaningful way,” Swift added.
Services provided by the Barber Institute include a school that serves students in northwestern Pennsylvania, various behavioral health services as well as autism diagnosis and treatment.
“Our sponsors play an important role in making this event a success. We appreciate the team at Corry Auto Dealers Exchange reaching out to us to be a sponsor,” said Laura Schaaf, director of giving for the Barber National Institute.
“By underwriting the costs, sponsors like Corry ADE make it possible for 100 percent of the proceeds to go toward helping us make dreams come true for the children, adults and their families who are part of the Barber Institute family and our communities,” Schaaf added.
For more information about Barber Beast by the Bay, visit http://www.barberbeast.org.
Those interested in sharpening their auction skills can look forward to an upcoming National Auto Auction Association standards training event in Michigan next month.
The upcoming NAAA Auction Standards Training Program will feature two days of classroom and hands-on training for vehicle inspectors, operations managers, account coordinators, arbitration managers or anyone else interested in enhancing their knowledge on vehicle inspections and arbitration trends.
The upcoming event will be hosted by the Grand Rapids Auto Auction in Jenison, Mich. on Aug. 19 and Aug. 20.
Auto Remarketing recently attended an Auction Standards Training event near our home office at ADESA Charlotte. Check out the full story here.
Here’s a breakdown of what you can expect to learn about during the upcoming event, according to the NAAA:
Day 1
- Condition reports
- Estimates for reconditioning
- Inspection and mechanical basics
- Prior repairs
- Vehicle sections
- Interiors
- Flood and hail damage
- Restraints
- Vehicle grading
- Collision estimating guidelines
Day 2
- Structural damage policy
- Identify correct structure type
- Prior structural repairs
- Collision dynamics
- What is considered structural damage?
- What is not structural damage?
Sound interesting to you? You can find more information and register here.
Barrett-Jackson highlighted what the company called an exciting docket of custom vehicles is coming together for its next event, the third annual Hot August Nights Auction, which will be held Aug. 6-8 at the Reno-Sparks Convention Center in Reno, Nev.
Among the most anticipated consignments is a collection of Fords including the 1936 Ford Custom Sedan (Lot No. 624) finished by Count’s Kustoms, utilizing a Corvette C4 suspension and a GM crate Ram Jet V8 engine.
“Hot August Nights has a long-standing tradition of bringing together the world’s most elite customizers,” said Craig Jackson, chairman and chief executive officer of Barrett-Jackson. “We enjoy helping Hot August Nights carry their nostalgic theme through to our auction by filling our docket with fantastic customs such as these.”
The highly anticipated 1936 Ford Custom Sedan is dressed in a stunning, burnt orange custom paint, custom pinstripes and airbrush fades. This over-the-top build was finished by Count’s Kustoms and carries an array of eye-catching features. This hot rod rides on Corvette C4 suspension and adjustable air ride shockwaves, and is powered by a GM crate Ram Jet V8 with electronic fuel injection and a 4L80E automatic overdrive transmission. Inside the all-steel body, the black leather and suede interior is accompanied by power seats, windows and sunroof.
Also on tap is a 1933 Ford 3-Window Custom Coupe (Lot No. 633) that features an build with a complete receipt file. A 5.7-liter TPI roller cam engine and 700R4 overdrive automatic transmission power this hot rod. The black exterior features a custom hood and side panels and a deluxe grill, with the interior sporting red leather along with a custom sound system and banjo custom steering wheel, as well as the technology of rear- and sideview cameras
“Our Reno Tahoe fans truly understand the time, talent and detail that goes into the award-winning customs that cross our block during the week of Hot August Nights,” said Steve Davis, president of Barrett-Jackson. “This year’s Ford customs will showcase the skillfulness and passion these custom works of art represent.”
Another Ford custom, appropriately titled “Mellow Yellow,” showcases an outstanding build on an all-steel 1934 Ford Roadster (Lot No. 634). Under the hood, this custom Ford features a HEMI engine boasting approximately 600 horsepower along with a hydraulic roller cam and lifters, adjustable roller rocker arms, dual carburetors, custom aluminum radiator and dual electric fans. Built to show-winning and concours quality, this build has seen only 760 miles since completion.
The company also mentioned what officials think will be a fan favorite in Reno is a 1956 Ford F600 Custom Pickup (Lot No. 646).
The truck was transformed from a single-cab 22-inch flatbed F600 into a 4-door cab that features Swedish leather and a five-screen DVD stereo entertainment system. Other custom additions include hand-formed front and rear roll pans, a one-off machined console center, hand-built running boards, 2005 Denali bucket seats and a fully polished Ram Jet engine that cranks out 502 horsepower.
Barrett-Jackson said consignments for the Hot August Nights Auction are still being accepted with reserve and no-reserve options available.
To consign a vehicle in the Reno Tahoe auction, go to this website. For more information on becoming a bidder, go to www.barrett-jackson.com/bid.
The National Automobile Dealers Association announced today its fierce opposition of an amendment potentially headed for the Senate floor this week that would prohibit the retail sale of used vehicles with an open recall.
The NADA as well as the American International Automobile Dealers Association and the National Association of Minority Automobile Dealers sent a joint letter to their senators on Monday to urge them to vote against the proposed amendment.
According to the NADA, the amendment in question was officially filed by Sen. Richard Blumenthal (D-Conn.) and may come to the Senate floor for a vote as part of the transportation bill being voted on this Thursday.
In the letter, the three organizations argued that the proposed legislation would “instantly diminish the value of millions of customer trade-ins while not guaranteeing that a single recalled vehicle gets fixed.”
The organizations speculate that dealers would be less likely to accept trade-in offers due to the knowledge that they would have to sit around until a recall remedy could be found, thus causing many trade-ins to be declined and forcing consumers to sell their vehicles in the private market and further perpetuate the putting off of recall repairs.
The organizations estimate that between 250,000 and 500,000 sales of new vehicles would be lost per year due to consumers being unable to trade in their vehicle.
In a previous discussion with Auto Remarketing, vAuto founder Dale Pollak echoed this opinion.
“The responsibility of checking and remedying open recalls for all used vehicles prior to sale is an excessive and unreasonable burden to dealers,” Pollak said. “This is because dealers frequently do not possess the resources, expertise and/or parts to make the necessary repairs. Moreover, this situation is exacerbated in light of the fact that dealers cannot practically refuse trade-ins on the purchase of new vehicles.
“These trades represent a significant portion of the customer’s payment, and therefore, the receiving dealer must have the ability to turn the trade quickly in order to convert the asset to cash,” Pollak continued. “The inability to do so as a result of the proposed legislation will likely deny all dealers the necessary capital to sustain operations.”
To check out the full letter submitted by NADA, AIADA and NAMAD to their senators, click here. To check out commentary on the topic from NADA Chairman Bill Fox, click here.
As Music City Auto Auction of Nashville added another commercial consignor to its lineup, Plaza Auto Auction of Iowa is preparing for its 52nd anniversary celebration in August with the introduction of Edge Simulcast to its weekly sale events.
Owner Mark Greb explained Plaza AA launched Simulcast selling earlier this month on all five lanes, and has recorded significant increases in online attendance as well as online sales from week to week. Also being broadcast via Edge Simulcast is the auction’s Power Sports Sale, which now runs monthly with up to 100 units per sale.
“Over the past 24 months, we made significant improvements in preparation for the introduction of Simulcast selling at Plaza Auto Auction of Iowa,” Greb said. “The $250,000 project included a new auction management system, new video equipment in the auction arena, new asphalt and lighting upgrades.
“Upgrading our technology was a significant part of this effort, and we’re extremely pleased to announce that with the introduction of Pipeline Simulcast we now enjoy a significantly expanded presence online and the capability to bring even more buyers to the auction by way of this exciting online selling platform,” he continued.
Plaza Auto Auction of Iowa has one of the largest evening sales in the Midwest, offering more than 500 vehicles every Wednesday at 6:30 p.m.
“Prior to the addition of Edge Simulcast, an average of 300 dealers attended the sale every week, with customers hailing from Iowa, Illinois, Wisconsin, Minnesota, Missouri and Indiana, some even from as far away as Mississippi and Mexico,” Greb said.
“We anticipate that those numbers will increase as dealers avail themselves of the convenience of previewing inventory and attending the auction online,” he continued
“We have recorded a number of sales peaking well over 70 percent this year,” Greb went on to say. “With the enhancement of Edge Simulcast we fully expect the market to show even more vitality as we move into our 52nd anniversary celebration in August.”
With the auction’s customer base on the rise, Greb announced the addition of a new employee to the service team. Carrie Gralund was hired as a regional sales representative,
“Carry’s background in management and sales in the mobile telephone industry will serve her well as she works with the dealers in our region,” Greb said. “I have known her for a long time, and know that she will not only develop strong working relationships with our many customers but will enhance the auction experience for all of them.“
Greb noted that Gralund will spend her first two months as an auction employee at Plaza’s micro-academy to get an overview of auction procedures and operations.
“She’ll start out on the lot, checking in cars and parking them, which is, incidentally, the same place I started my auction career in 1988,” Greb said. “Then, she’ll spend a week in the office, a week in transport, two weeks in the sales office, and a week visiting customers with Jerry Udelhofen, a nine-year veteran of auction sales here at Plaza.
“Finally, she’ll go to Chicago for an Internet sales seminar presented by TPC Management, where she’ll learn more about the various online selling platforms in the auction industry,” he continued. “After that, she’ll be ready to take to the road on her own as our regional sales representative.”
Gralund shared her reaction to joining the Plaza AA team.
“I am so excited to join the team at Plaza Auto Auction,” Gralund said. “Everyone here is enthusiastic, knowledgeable and dedicated, and I am learning a lot from all of them.
“The training process is an invaluable education for me, providing me with hands-on experience as I learn how all the departments work together to make the auction process a great one here for our customers at Plaza Auto Auction,” she added.
Along with consignments from franchised and independent dealers throughout the Midwest, Plaza Auto Auction of Iowa features vehicles from a number of regional and national fleet/lease and repo accounts, including PHH, Flexco Fleet Services, University of Iowa Community Credit Union, Emkay, Veridian Credit Union, Avis/Budget, Primeritus, Enterprise, and Fleet/Lease Disposal.
“It is exciting to mark the growth we have experienced at Plaza Auto Auction of Iowa over the past several years,” Greb said. “In conjunction with a vibrant market, we’re excited to expand the service we offer to our customers by way of improved facilities, expanded technology and a skilled and dedicated auction staff that distinguishes Plaza Auto Auction as one of the leading independent auctions in the country.”
Music City Auto Auction of Nashville adds Ally Financial to sale lineup
Music City Auto Auction of Nashville, a subsidiary of Auto Auction Holdings, announced the addition of Ally Financial to its lineup at its Spring Hill, Tenn., location.
Opened this past February, Music City AA operates a six-lane wholesale auction serving Tennessee and surrounding states.
“We are very proud Ally Financial has decided to join the growing number of consignors here at Music City,” general manager Tim Sherk said.
“We have built a solid and dedicated seasoned staff that I feel confident will serve Ally Financial as well as our growing dealer base with only the finest in wholesale auto auction services,” Sherk said. “Our Music City staff is very excited about the opportunity Ally Financial has afforded us.”
Auto Auction Holdings also operates three other auctions: South Florida Auto Auction in Lauderdale Lakes, Fla., Orlando-Longwood Auto Auction in Longwood, Fla., and Speedway Auto Auction of Charlotte in Concord, N.C.
The Appraisal Lane (TAL), a trade network and communications platform for used-vehicle dealers, announced Tuesday it has hired TrueCar’s former vice president of dealer development.
Taking on the position of vice president of sales for TAL is Kenneth Potter, bringing experience from a variety of other well-known organizations, including positions such as the general manager of CarMax, the vice president of sales for Greenlight.com, the vice president and general manager of CarsDirect.com, and the chief revenue officer at SureSale.com.
Andrew Iorgulescu, TAL’s co-founder and president, as well as the former co-founder of OPENLANE, welcomes Potter to his team.
“Ken has built lasting relationships in the industry, with a proven track record of successfully growing sales and driving expansion efforts for businesses like ours,” Iorgulescu said. “He joins our team at a critical time, since we are actively rolling out our platform to targeted automotive markets offering significant growth opportunities. It’s an exciting time for the team.”
TAL’s real-time used-vehicle trade network gives dealers within its available markets the ability to post pre-owned inventory and receive cash offers within 10 minutes that remain good for seven days or 300 miles. At present time, the company’s services are available in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Texas.
“I’m excited to join The Appraisal Lane team and I look forward to the possibilities for growth in – and enhancements to – our industry,” Potter said. “Based on our analysis, over 36 million vehicles will be appraised this year, but until now, the wholesale used-car appraisal and acquisition process was inefficient. We’re transforming this process by sourcing wholesale experts to provide dealers with the most accurate offers quickly and easily through a fully mobile-optimized platform. The end result is improved business operations and, ultimately, more car sales for dealers.”
Stay tuned to further editions of Auto Remarketing as we delve further into the operations behind The Appraisal Lane.
