“You don’t normally see quite this big a rollercoaster ride on these lines, but the last two years threw all the rules out the window. So, everyone’s kind of reacting.”
While this quote from Joe Miller could really apply to any aspect of wholesale automotive (or society in general?), the vice president of client experience at AutoIMS was talking specifically about a set of stats that jumped out at him in the latest AutoIMS Industry View report.
Read more
KAR Global values its commercial clients, especially ones that leverage OPENLANE iQ, which provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces supporting 80% of North America’s private label brands.
Hyundai Capital America is one of the latest captive finance companies to migrate to the platform, and KAR shared through a news release how the consignor has benefitted.
“One of our biggest needs is the ability to communicate effectively with dealers and provide the best inventory for their businesses,” said Doug Evans, director of national remarketing at Hyundai Capital America. “OPENLANE iQ has delivered a more usable, intelligent private label site that can help our team succeed.”
Combining technology and a collaborative agile approach to development, KAR explained that sellers can leverage seamless integrations across the remarketing ecosystem to tailor the user experience through OPENLANE iQ.
“We’re obsessed with helping our customers be more successful, and regularly talk with both sellers and buyers to meet their evolving needs. One of the most common themes we hear is a desire for better, faster and easier communication, especially as the industry moves more digital,” said Jason Ferreri, executive vice president of commercial customer solutions at KAR.
“OPENLANE iQ provides sellers with powerful buyer engagement and analytics tools, and dealers with a clearer picture of what is available. We are thrilled to partner with Hyundai Capital America to bring these game-changing benefits to their dealers,” Ferreri continued.
The company went on to highlight the OPENLANE iQ platform can integrate with optional advanced capabilities such as digital signature capture, lessee and/or dealership self-inspection and vehicle transportation. It also has the power to seamlessly integrate with KAR’s other used-vehicle marketplaces including ADESA.com, BacklotCars in the U.S. and TradeRev in Canada and sale formats like Simulcast and Simulcast+.
Furthermore, KAR mentioned the platform also can pull in rooftop-specific recommendations powered by KAR’s data engine and real-time market intelligence to match the right vehicles to the right buyers in an easy-to-understand format.
The technology leverages a hybrid-cloud microservices architecture with a mobile-first responsive user interface. This architecture provides the ability to rapidly respond to the voice of the sellers and quickly update the private label sites, providing them with greater control and flexibility.
“OPENLANE iQ is the most intelligent, most integrated, most user-centric, and most-scalable platform available in the industry,” said Rick Griskie, president of digital marketplaces at KAR. “This industry-leading technology provides significant agility for our customers and dealers.”
Two wholesale industry leaders shared reasons why others should join them during the 2020 IARA Virtual Summer Roundtable hosted by the International Automotive Remarketing Alliance.
ServNet executive director John Brasher opened first by stating why auctions, consignors and other wholesale-market participants should be online for the event set for Aug. 20.
“With several industry events being canceled this year, we are all eager to get together and share information and catch up. We’ve become comfortable with virtual meetings and video conferencing, so it’s the perfect time for the IARA Virtual Summer Roundtable. Thank you to IARA for putting in the legwork to make this happen,” Brasher said.
Strategic Remarketing Solutions president Jeff Bescher added these perspectives.
“While we do not know where the coming year will lead us, the IARA’s Summer Roundtable’s focus on the future is bringing together the best intelligence in the spectrum of our industry, from remarketers, auctions, lenders and suppliers,” Bescher said.
“The interactive discussions and data-driven reports at this conference can offer us a better feel for what we can expect as an industry moving forward,” he went on to say.
Registration for the event can be completed here. For more information or to learn more about the IARA, visit IARA.biz.
It’s a question probably executives from throughout the automotive industry are asking.
But a quartet of consignor representatives will try to tackle it during the 2020 IARA Virtual Summer Roundtable hosted by the International Automotive Remarketing Alliance.
A consignor panel discussion on Aug. 20 titled, “Where Do We Go from Here?” will be moderated by United Road director of business development Scott Kolb and will feature:
— Darrin Aiken of Wheels
— Brent Huisman of Exeter Finance
— Melanie Glaze of U-Haul
— Patrick Huibers of Honda Canada
Registration for the event can be completed here. For more information or to learn more about the IARA, visit IARA.biz.
