Continuing our series of special episodes of the Auto Remarketing Podcasts featuring general sessions from this year’s Auto Intel Summit — an added benefit for Cherokee Media Group Premium Members — we turn our attention to online wholesaling.
Justin Davis of BacklotCars, Dan Diedrich of Auction Edge and Mike Waterman of ACV are part of the conversation facilitated by Cherokee Media Group’s Joe Overby.
To listen to the episode, go to this webpage.
After extensive phone interviews with executives at several major commercial consignors and auction houses, I’ll describe the future of wholesale remarketing using the acronym “BOOM.”
The respective letters of “BOOM” describe how auction services and consignors are evolving wholesale remarketing to transform brick-and-mortar, online opportunities and metrics to deliver more value to both ends of the remarketing stream.
Physical auctions continue to serve the wholesale market, but digital disruptors — some from established brick-and-mortar houses — have emphasized to dealers that these online platforms deliver faster results, more choices, better decisioning tools and often better value than had they purchased or sold in the physical lanes.
All this to say, digital remarketing tools give both buyer and seller pivotal metrics once unavailable to help them achieve more value from the assets they’re selling or buying at wholesale.
These digital tools enable upstream remarketing and other resources that help dealers acquire inventory directly. As a result, some important functions of the auction intermediary are changing.
Bricks yielding to data
Brick-and-mortar auction facilities and their advisor and recon services still have legs, but online is creating and making possible more opportunities for buyers and sellers to make a profit.
Ally’s SmartAuction recently announced an agreement with Nissan Motor Acceptance Corp. and INFINITI Financial Services to list those makes’ off-lease vehicles, Ally announced in a recent press release. SmartAuction is Ally’s online wholesale platform. It lists 30,000 vehicles a day for eligible dealers of all brands.
“Margins are being compressed on all sides of the business, which basically means that every client is looking for better ways to work smarter and more efficiently to optimize their business,” said Holly Capps, vice president of commercial sales for Manheim. “We think 2019 is the tipping point where 50 percent of the cars will be sold through a digital channel.”
Data — and its practical use, metrics — is driving the digital remarketing boom.
“One of the things that help our customers sort out the new environment and thrive in it is their use of data to make the smartest decisions possible to achieve their goals,” Capps said. “This allows the client to move faster and then spend time on other areas of value to their business.”
Manheim recently announced in a press release its integration with vAuto’s Provision tool, “to help dealers value consumer trade-ins and act more quickly to list vehicles in the wholesale market place.”
Online opportunities, said Jason Alba, executive director of remarketing operations for Ally Financial, are causing traditional auctions to re-evaluate their operations and business models. “I think we’re still early in a new wave of digital opportunities, but we see the potential for enhancing the efficiency and speed with which vehicles can be sold.”
Brad Bollman, senior vice president, North American operations, for GM Financial, agreed.
“Half of our (off-lease, fleet and rental) vehicles will be sold upstream, and the remainder sold downstream through a network across the two large auction houses and some independents,” he said.
“What’s different in today’s wholesale market,” Bollman added, “are the data-driven analytical approaches to selling the right vehicle at the right location and at the right time.”
Off-lease volumes
In an email from Cox Automotive, manager of economics and industry insights Zo Rahim said off-lease volumes should hit a peak this year. “It’s difficult to pinpoint exactly when we will see the peak in lease maturities returning to market within the year, but it is a reasonable assumption that they will be in the spring months. OEM captives can work with incentives, and their remarketing teams to pull-ahead current leases, so granular forecasting movements is difficult,” he said.
“For a few years now, various players in the industry and Wall Street have had negative views of off-lease returns and noted that they would cause a crisis in the used-vehicle market and collapse prices. However, off-lease units did not cause chaos in the used market. In fact, strong retail demand helped support the increased supply, and the market was able to absorb the units,” Rahim wrote.
“We measure this by seeing the growth in used sales over the past few years as well as strong price performance in the wholesale market. If off-lease units were not being absorbed, you would have seen inventory growth outperform demand leading to price declines, which we did not see in 2017 or 2018. This ultimately suggested to us that the volumes were being absorbed and will continue to be that way this year so long as demand remains high, which we forecast it will,” Rahim said.
For ADESA, about half of its open off-lease volume is remarketed digitally across its DealerBlock Prime online selling platform, said Paul Lips, the company’s chief commercial officer. Last year ADESA launched a dealer-branded mobile auction service to bring auction services to the dealer’s lot or event location.
According to the company’s website, “ADESA Mobile Auctions have all the manpower and technology you would find at a physical auction to facilitate a sale, including ADESA LiveBlock — a live streaming platform — to maximize exposure to interested buyers.”
Lips said the company would soon launch a new feature to its online tools and dealer targeted communications that offer tailored inventory suggestions using the dealer’s rooftop-specific purchase history, sales history and price points. “It can tell the dealer whether its vehicles are priced right at auction versus what they’ll be able to retail it for, so we can show them the data so they can concentrate more on the close. Sellers want to sell as fast as possible,” Lips said.
Which channel?
The auction services use the data they have amassed to optimize services.
“We had a client challenged by their business to improve the bottom line of the business overall, who was working with more than 50 locations across the country,” Capps said, “and by using targeted sales data, we showed how streamlining the number of sites used they could reduce costs and put that vehicle into the right channel to maximize profits.
“I would say it is getting harder to predict were values are going, so when we can offer resources such as our Pricing Optimization tool that reacts quickly to marketplace dynamics it can pick up on those trends faster,” Capps said. “This helps combine the right price, right channel and right (auction) location to target that buyer who will value that inventory.”
One disruptor getting attention is ACV Auctions, a digital dealer-to-dealer channel. Most interviewees for this report mentioned ACV when we discussed alternative remarketing channels.
According to news released by the company at NADA Show 2019 in January, ACV launched in June 2015, and now sells more than 10,000 wholesale vehicles a month on its auction platform, which represents 1 percent of all vehicles sold at auctions today. ACV finished out the year operating in 85 markets coast to coast, up from 30 markets at the start of the year. It plans to be in 140 markets by the end of 2019, it said.
“ACV is a 20-minute digital auction,” ACV Auctions chief executive officer George Chamoun told me at NADA while a live ACV auction played out on his smartphone.
“Sold” alerts clicked off steadily as he talked.
“This auction shows 61 dealers bidding, and already we have 16 bids on this 2010 Mercedes with 100,000 miles. It’s a great car for one dealer, and for another, it’s not the car he or she wants,” Chamoun said.
ACV provides online bidders a full vehicle condition report featuring 30 to 60 vehicle photos, including undercarriage and opened fluid reservoirs, so buyers can observe any tale-tell signs of mechanical issues those systems’ fluids might be telegraphing. It also features an engine-running audio app for capturing the sound of a running vehicle engine. The audio is appended to the listing.
A trained listener should be able then to detect telltale problems, if any, such as bearing knock, valve sticking or other issues. In all cases, this information enables the bidder to make a more informed decision.
“I think when folks think of a digital experience today, they think of ACV, it’s a benefit to be the Kleenex of a sector. Today we’re getting more inventory from banks and commercial consignors. Sellers want digital upstream where cars get the first look.”
Over at KAR Auction Services, the company recently announced upgrades to its TradeRev dealer-to-dealer digital mobile auction application. The upgrade, Move Metal, is designed to do that, faster. In a Feb. 5 news release, KAR said TradeRev shortened its auction timer to increase the velocity of dealer transactions on the platform.
For Ally, SmartAuction is its online flagship. “We’re watching the new entrants move into the market as we speak,” remarketing executive director Alba said. “ACV, for example, has its own in-house inspection staff that assists dealers to transact online.”
Commercial consigners are watching these trends
“There are many new (channel) opportunities out there, and while objectives of consignors remain consistently the same over the years, the business is about matching our vehicles with buyers. That means finding the best channels for making these matches in the shortest period of time and making sure the prices are good,” said GM Financial’s Bollman. “Most new technology revolves around the speed of the transaction, and that is really the opportunity, to help match a retail customer quickly with a car that we have at a GM dealership.”
In so many words, Manheim’s Capps agreed. “I would say we’re focused on engaging our customers where they are, in smarter ways with best-in-class upstream selling tools for all clients, including dealers. We help them use data to maximize their remarketing strategies, add value and get those cars back into retail faster.”
Jon Hart is general manager of Escondido Auto Super Center, an independent dealership in Escondido, Calif., that’s been in business since 1994 in the city that’s about 30 miles north of San Diego. The store lists more than 200 vehicles in inventory mostly from domestic and Asian automakers with a few high-line units sprinkled in, too.
Hart acknowledged during a phone conversation with Auto Remarketing that it’s been at least two years since he walked the lanes at a physical auction to find Chevrolets, Toyotas and the occasional Land Rover or Volvo to fill his wide-ranging inventory
“I can’t do it anymore now that I buy online. It just wouldn’t work for me anymore,” Hart said.
Hart also acknowledged physical auctions contain plenty of vehicles to choose, but the struggles came when searching and securing units at a particular price point and condition.
It’s how Escondido Auto Super Center became a source of information for online wholesale companies like CarWave to develop its platform.
The owners of Escondido Auto Super Center actually are siblings of CarWave co-founder John Lauer, a former vice president at Microsoft (More on that sibliing connection later).
But Hart and Escondido Auto Super Center purchase inventory from an array of online sources. He shared several reasons why.
“It’s been much easier to buy online. There’s a lot bigger selection,” Hart said. “You can view so many more cars during the same time that it would take you at a brick and mortar auction because of the convenience.
“When you go to a brick-and-mortar auction, you have to look through the list, find the cars the day before, filter through them. You’re up early in the morning,” he said. “You’ve got to physically inspect them on the lot before you bid. That whole process takes a while.
“If you’re looking at time per car, it might take 10 minutes or more. Whereas online, you can go through a car in a minute, two at the most, and put in a bid. You can probably look at five times the inventory, if not more, in the same amount of time,” Hart continued.
“You end getting better deals because you can look at five times more cars in the same period of time. You can be more selective in the cars you’re purchasing,” he added.
And along with convenience, Hart pointed out that condition reports and buy-back guarantees now available through online inventory acquisition channels make being at a desk or using a mobile device much more productive when completing wholesale chores than going through the auction gates and walking the lots and lanes.
To any dealership or manager who still is uneasy about using online buying resources to secure inventory, Hart said, “It’s so much better that it’s night and day. That’s why we don’t go anymore. If someone is apprehensive, they’ve just got to try it. Once they try it, they’re not going to go back.”
The emergence of CarWave
Granted, not all dealers have the same preferences as Hart. Many are still going to physical auctions, to put it lightly.
According to statistics the National Auto Auction Association provided in spring 2018, just over 10 million vehicles were sold at NAAA-member auctions in 2017, which was up 2.5 percent over 2016 and represented $105.6 billion in sales, according to the association’s annual survey shared last year.
That $105.6 billion in gross value of units sold was up from $100 billion in 2016.
There were 17.32 million vehicles that entered the auction in 2017, compared to 17.74 million a year earlier. The percent sold climbed from 55.1 percent to 57.8 percent. Average price per unit was up 3 percent at $10,544.
But, still, alternative options have emerged, including the online wholesale platform CarWave, referenced above.
It was on a 2009 trip to California, where Lauer was visiting one of his brothers, that the wheels starting turning for an idea that eventually became what is now known as CarWave.
Lauer’s youngest brothers, Joe and Bill, had founded the independent dealership known as Escondido Auto Super Center in 1994.
In looking for resources to buy inventory, his brothers had built relationships with franchise dealerships, eventually doing some of the wholesaling work for those stores, John Lauer said.
“So, they were just a middleman in the whole process,” he said. “We got to talking, and they realized, ‘Hey, you know the Internet displaces middlemen. In industry after industry, it squeezes out middlemen. And so that’s how we got started.”
The company began by tackling the problem of aged frontline inventory for franchised dealerships in California, Lauer said. That beget the TheDealersForum.com, a network for franchised dealers to transact.
“They really need other used-car managers who might need to fill a hole in their inventory, and therefore, they’ll buy it from another reputable franchised dealership, knowing that they can just bring the car to their lot, change the stickers on the outside, and the car should be pretty much ready for sale,” he said.
“So that was a real pain point. They were having difficulty doing that,” Lauer said.
The focus for the company became selling that aged frontline inventory for the next three-and-a-half years. But they recognized the difficulty that scaling nationally could bring, given that some areas might not have as much aged frontline inventory as California, Lauer said.
Wanting to find another way to help franchised dealers, the company began to look at helping franchised dealers sell trade-ins. Thus, the emergence of MyFreshTrades.com, an online auction where franchised dealers sold trade-ins to independent dealers.
It launched its first online auction on the trade-in side in 2014.
Fast forward to February, and those two tentacles of the business — MyFreshTrades.com and TheDealersForum.com — were rebranded as one: CarWave.
In online wholesale, a ‘wave is hitting’
All the vehicles in the CarWave platform are from franchised dealers and are bought by either other franchised dealers or independent dealers.
With plans to expand elsewhere in the West, CarWave has been operating in California, where it works with 1,000 franchised dealership and sold 35,000 vehicles last year.
“Now the wave is hitting, so it’s going to be a big battle right now,” he said, later adding: “I was kind of in stealth mode trying to run below the radar, and now everyone has really come out very vocally. And so now we’re pumping up our efforts to get our story out there, as well.”
There are numerous and quite successful players in the online wholesale segment of the market, a segment that appears to be growing. Asked what he thinks is driving the growth, Lauer pointed to margin compression, at least on the buyer side.
Because of the growth of the automotive Internet in the last 15 years, especially the last six to eight years, “There’s so much more transparency in buying vehicles on the consumer side,” including pricing, he said.
That level of transparency driven by the Internet, as in many other sectors outside of auto, has pushed down margins for car dealers.
The second factor Lauer noted was just the convenience of online shopping, which began in other industries but has “finally moved into the wholesaling of automobiles” — a movement that has been spurred in part strong condition reports.
Additionally, for dealers on the buying side, it can be “costly” for them to be away from their stores, he said, for a number of reasons.
As far as next steps for CarWave, it has recently rolled out into Arizona, hiring inspectors and a sales team there. It is currently hiring in Nevada and likely will be launching there by the end of March. Moving to the Pacific Northwest, CarWave plans on launching in Oregon and Washington in the second half of 2019.
Lauer recently joined the Auto Remarketing Podcast. That episode can be found below.
In this episode recorded at Used Car Week in late 2018, Nick Peluso of Cox Automotive is back to talk about the changes on the selling side of remarketing cars, concierge service in off-site wholesale selling and how Manheim aims to provide a "future-proof digital marketplace."
The podcast discussion can be found below.
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Amid the NAAA Convention during Used Car Week in Scottsdale, Ariz., DealShield announced its purchase protection solution will now be available for dealers and buyers at Lake Charles Auto Auction.
The Lake Charles, La., facility marks DealShield’s 40th independent auction. DealShield’s DS360 Guarantee, which helps dealers protect their purchases and return vehicles for any reason, will be available at the auction location this month, bringing the total number of auctions for the DealShield network to 115.
“We are excited to be able to offer DealShield to our clients as we know so many of our clients will take advantage of this incredible service,” said Matt Pedersen, owner of Lake Charles Auto Auction. “At LCAA we strive to provide unmatched customer service along with keeping up to date on the latest and greatest auto auction products, so teaming up with DealShield is just another avenue for us to enable our clients to ‘discover the difference.’”
So, how does it work, and what does it mean for dealers buying at Lake Charles Auto Auction? According to DealShield, with the DS360 Guarantee, dealers can purchase a vehicle at a participating operating location in-lane or online via Simulcast or OVE. And if it doesn’t suit their needs or meet their expectatinos, they can return it to any location in the DealShield network for a full refund of the vehicle purchase price and buy fee. There is no arbitration required.
Dealers can opt in for a 21-day guarantee, or upgrade to the 30-day program. The company explained DS360 subscribers can also extend their protection window further when they transport their purchases with Ready Logistics through a partnership solution called “Ready. Set. Pause.” This allows dealers to “stop the clock” on their days of coverage while a vehicle is in transit.
In the more than six years since it launched, over 1.4 million vehicles with $20 billion in vehicle value have been guaranteed by DealShield.
“Since 2012, dealers have told us countless times how DealShield has helped them grow their businesses by giving them more confidence in their wholesale purchases,” said Stu Dressler, associate vice president of assurance at Cox Automotive. “We’re excited to broaden our network of independent auction partners and further our mission to cover transactions anywhere dealers buy.”
In other recent news from the company, in late October, DealShield announced it integrated with the EDGE AuctionOS platform from remarketing technology provider Auction Edge.
This means that more than 100 independent auction partners of Auction Edge can now tap into the services of DealShield.
Used-car managers looking for high-line units now potentially have more options via DealersLink.
On Wednesday, DealersLink announced it has launched Sixt Remarketing inventory within its marketplace. Sixt is adding more than 1,000 off-rental vehicles to the national dealer-to-dealer marketplace.
And to help stores find just what they need to satisfy a customer request, Sixt’s nationwide inventory will be available on the DealersLink.com and SixtDirect.com one week earlier than some other auctions.
Sixt is known for its high-class inventory featuring luxury models with higher trim levels than vehicles offered by other rental companies. The company operates more than 2,200 locations worldwide and more than 50 premium locations in North America.
DealersLink has been eliminating wholesale transaction fees for more than 13 years, with $1 billion of used inventory available 24/7. Members use the Marketplace daily to stock their lots with clean reconditioned units, locate hard-to-find vehicles for their customers, sell inventory without incurring wholesale losses, and arrange book-for-book trades.
Members pay only a monthly fee to participate, and never pay per-vehicle auction fees.
“Offering our premium inventory on DealersLink’s Marketplace complements our existing sixtdirect.com service while opening our inventory to more potential buyers,” said Mark Kach, vice president of remarketing North America for Sixt.
DealersLink chief executive officer Mike Goicoechea added, “We are absolutely thrilled to deliver Sixt inventory to our DealersLink members with no transaction fees.
“Sixt inventory caliber is second to none. Mark and his team really know how to properly equip their vehicles for retail buyers, and they typically sell vehicles with lower than average miles,” Goicoechea went on to say.
To learn more about Sixt, visit www.sixtdirect.com.
For more information on DealersLink, visit www.dealerslink.com, call (844) 340-2522 or send a message to info@dealerslink.com.
TradeRev — sponsor of the Used Car Awards Luncheon during Used Car Week 2018 — announced the release of the company’s new MOVE METAL service options for sellers.
TradeRev highlighted the offering includes three customized tiers ranging from self-service to full-service, all aimed at helping dealers sell unwanted inventory faster and easier.
Also offered is the company’s new TradeReady seller protection, an optional service that can guarantee no post-sale returns or arbitrations.
The company indicated all service levels include access to TradeRev’s mobile app and desktop marketplace that facilitates live-bidding, one-hour wholesale auctions among thousands of dealers from coast to coast.
TradeRev’s new MOVE METAL service options will be available to qualifying U.S.-based dealers nationwide beginning on Nov. 1.
“TradeRev knows every dealer is unique, and that selling and sourcing inventory is never one-size-fits-all,” said Becca Polak, TradeRev president and chief legal officer for TradeRev’s parent company, KAR Auction Services.
“Our new service levels put dealers in control of their TradeRev auction experience and help them sell their way all day, every day. And to make sure every sale is final, our optional TradeReady seller protection gives sold vehicles an arbitration-free, no-hassle, one-way ticket off the lot,” continued Polak, who is among the collection of industry executives and leaders set to appear during Used Car Week that begins Nov. 12 in Scottsdale, Ariz.
The company mentioned all TradeRev registered sellers can receive in-dealership onboarding and training as well as hands-on support planning and promoting the dealership’s “first sale” event. Sellers at the general TradeRev level can image and launch their own vehicles using the TradeRev mobile app and the company’s artificial intelligence technology.
For dealers who upgrade to the VIP level, TradeRev’s field crew will come to their lot to image vehicles, perform detailed inspections and complete onsite condition reports.
And for dealers who want permanent peace-of-mind on every sale, TradeRev’s all-access level provides the additional power of TradeReady seller protection.
“On the lot or on the phone, the TradeRev crew is all about hustle — we’ll do everything we can to help our dealers win,” said Keith Crerar, executive vice president of U.S. sales and global operations for TradeRev.
“If you love imaging and launching your own trades, keep doing what you’re doing — our coast-to-coast team is standing by to help whenever you need it. But if you’re short on time or manpower, just upgrade your plan, give us the keys and we’ll handle the rest,” Crerar went on to say.
TradeRev’s MOVE METAL service offerings also include two optional add-on services that can be applied on a vehicle-by-vehicle basis.
The negotiation feature can allow sellers to extend the auction time and negotiate one-on-one with the highest bidder directly through the app.
And for dealers who select the new lot sweep service, TradeRev will haul sold vehicles off their lot to an advanced logistics center to clear space for new dealer inventory.
Interested dealers can visit www.TradeRev.com and click “Join Now” to enroll or contact TradeRev customer service at (844) 881-8738 to upgrade their current plan.
Manheim recently announced it has launched a new intelligent search function for wholesale inventory on its online platform OVE.
The new personalized search tool offers dealers faster and more relevant results and increases search accuracy.
OVE, which serves 66,000 active users and sees 900,000 monthly visits, now touts an intelligent search feature which uses machine learning in order to learn clients’ behaviors and preferences over time. The new search tool offers vehicle recommendations specific to each buyer, and buyers can sort results by relevance, newly listed, percent of MMR and more.
In the future, Manheim explained the new search will also start taking clients’ bid and purchase history into account “in order to serve up increasingly more relevant inventory recommendations over time.”
Additional enhancements include:
- Search filters that display the number of matching vehicles for each attribute
- A “new listings” indicator
- A live countdown timer that appears for listings that will expire in less than 24 hours
“We listen to our clients and are fully committed to making ongoing upgrades to ensure they can easily and efficiently transact with us in a digital environment that they trust,” said Zach Hallowell, vice president, Manheim Digital Marketplace and RMS Automotive.
“We will continue evolving our industry-leading digital assets to anticipate and meet the needs and preferences of buyers and sellers. Our goal is to enable clients to make faster, smarter decisions through a modern, personalized online experience,” he continued.
With dealers likely acquiring vehicles for inventory at all times of the day, NextGear Capital is providing an enhanced path so managers can remain current on their financial commitments to be able to secure those units.
This week, NextGear Capital launched what the provider is calling AutoPay, a new feature within the Account Portal, NextGear Capital’s 24/7 account management platform. Account Portal provides detailed, real-time account overviews for dealer and auction partners, including a comprehensive dashboard that offers the most important information, such as analytics and payment history, instantly on any device.
Officials explained the new AutoPay feature can let dealers opt into a recurring and automated payment system that schedules NextGear Capital payments.
The company emphasized Account Portal can provide dealers with the flexibility of financing vehicles from a mobile device, searching financed vehicles by status and accessing account analytics (including average turn time, best and worst movers, stale and aging vehicles and the number of units purchased per auction).
Other features include:
— Viewing lines of credit summary information for all NextGear Capital accounts
— Identifying vital information for a unit (from payment history to aging and total cost to floor).
With the added option of AutoPay, NextGear said dealers have even more flexibility when it comes to choosing how they want to manage their business without worrying about missing a payment.
With the combined power of the Account Portal and AutoPay, dealers have enhanced access, visibility and control over their floor plan. As dealer technology rapidly changes and the business needs of automotive dealers evolve, officials added that Account Portal and AutoPay are equipped to adjust for needed enhancements, optimizations and customizations in the future.
“As a result of our long-standing history of working with dealers, NextGear Capital has a deep understanding of what dealers value when it comes to accessing information on vehicles and financing,” said Sarah Lutey, NextGear Capital director of product strategy, in a news release.
“We brought this understanding to life through Account Portal and AutoPay, which puts the dealer front and center, making it easier for them to do business anywhere, at any time,” Lutey continued.
MyDealerOnline, whose software lets dealers take wholesale vehicles and places them on the dealership websites, recently announced that Ben Franklin Technology Partners of Southeastern Pennsylvania has invested in the company to bring more exposure to its multi-faceted dealership solution platform.
Executives highlighted the late seed round will make it possible for auctions on MyDealerOnline.com to get more exposure, while individuals will be able to access a wider selection of vehicle at competitive prices through trusted local dealers. The investment makes MyDealerOnline part of Ben Franklin’s portfolio of greater Philadelphia-based high-growth technology companies.
Meanwhile, MyDealerOnline is still offering an opportunity to investors to add to the current round of investment.
“We are pleased to partner with Ben Franklin and their dedication to helping early stage companies,” MyDealerOnline founder and chief executive officer Yury Kaganov said. “Their due diligence and subsequent investment continue to validate MyDealerOnline's business model and value to our marketplace.”
MyDealerOnline’s multi-faceted solution can help dealerships drive sales, increase marketing effectiveness and gain intelligent customer insights by giving them the ability to offer wholesale inventory directly to customers through their current dealership websites. The Inventory-as-a-Service platform does not require additional funds or floor-plan costs typically involved with physical inventory for a dealership. The platform also improves the acquisition process, revenue potential, and customer satisfaction rates with one solution.
For more information about the investment deal, visit this website.
