Expanding its operational footprint in western Kentucky, online vehicle auction company Copart has acquired what it describes as “a leader in the remarketing of total-loss and fleet vehicles in the western Kentucky region for over a decade.”
Copart’s acquisition of Vincent Auto Solutions in Greenville, Ky., adds a “strong local management team with long-standing customer relationships," Copart chief executive officer Jay Adair said in a news release.
Adair added that the acquisition is part of Copart’s overall expansion initiative that helps the company process its increasing volume in Kentucky and nationwide. Copart operates at more than 200 locations in 11 countries, with more than 125,000 vehicles available online every day.
"We are excited to be part of the Copart family and its network of facilities and to enhance Copart's presence in the western Kentucky region," Copart general manager Brody Vincent stated in a news release. Vincent is a former partner of Vincent Auto Solutions.
The acquisition follows additional Copart activity as of late. The company recently made five announcements of new facilities or expanding an existing operation. It most recently enhanced capacity at its Newburgh, N.Y., location, adding 25 acres of storage space to its existing 68 acres.
Auto/Mate Dealership Systems provides dealership management system software to more than 1,400 retail automotive dealerships. Now, Auto/Mate DMS customers can use GoMoto’s Virtual Service Advisor Platform, a service lane kiosk that Auto/Mate says provides customers with a self-led check-in process.
Auto/Mate Dealership Systems stated on Monday it has completed all dealership management system integrations with GoMoto, a developer of technologies for automotive service lanes and showrooms. The integrations will allow what Auto/Mate describes as a streamlined check-in process.
With the integrations, Auto/Mate’s dealership customers can now use GoMoto’s Virtual Service Advisor platform to improve the service lane experience, reduce workloads for service advisers and increase service revenue, according to Auto/Mate.
Silko Honda director of operations Geoff Ewell tested the integrations by placing two GoMoto kiosks in the dealership’s service drive. Silko Honda has been an Auto/Mate customer since 2016.
"We wanted to create a frictionless environment for our customers where they could make their own choices on their own terms, and not have to wait in any lines to get their vehicle into the service queue," Ewell said in a news release.
Efficiencies, service adviser selling opportunities and customer satisfaction all increased after the dealership started using the platform, according to Auto/Mate.
“The integrations are seamless and customization options are unlimited,” Ewell said.
GoMoto’s Virtual Service Advisor kiosk can also help consumers check in, receive trade appraisals, update contact information and approve service recommendations, according to the company. The DMS updates all data entry instantaneously, according to the company.
GoMoto notes that 89 percent of dealership customers stated that the kiosk made check-in easier and faster. Ninety-five percent said the kiosk answered all their questions.
Twenty percent of customers self-selected an upgrade or add-on service recommended during the check-in process, and 7 percent of customers sought a trade-in/vehicle equity review.
Dealerships can customize Virtual Service Advisor with their own branded interface, and equity mining capabilities and customized promotions are part of the platform.
With Auto/Mate’s Service Merchandising Module, dealerships gain access to various tools that the company says can increase service volume and streamline service department processes.
“Consumers are becoming more used to self-service technology in retail environments, and GoMoto's platform meets that need in the dealership service department,” Auto/Mate president and CEO Mike Esposito said in a news release.
Members of the Ricart family have been “avid Harley-Davidson riders for years.” Now, they will be able to bring that passion for motorcycles into their business.
Ricart Automotive on Tuesday announced it has acquired A.D. Farrow Co. Harley-Davidson, which it noted is America’s oldest Harley dealership.
Ricart, noting that the acquisition will bring “mobility to next generation of riders,” said in a news release that the two companies will grow their automotive services, further expanding into the lifestyle electric vehicle ownership market and the traditional Harley-Davidson products.
Harley’s plans to diversify its product line by developing more electric scooters, bikes and vehicles will meet urban customers’ new demands, Ricart added.
In announcing the acquisition, Ricart Automotive noted that it will assume majority ownership of A.D. Farrow Co.’s three Columbus franchises and added that the expansion marks Ricart’s first move away from the Ricart Automotive Mega Mall in Columbus, Ohio in 10 years.
“We’re excited to get to know the A.D. Farrow employees and their families and to take on the next chapter of this historic brand," Ricart Automotive Group president Rick Ricart said in a news release.
“I have known and admired the Ricart organization all my life,” said Bob Althoff, the previous owner of A.D. Farrow Co. Harley-Davidson. Altholff has led A.D. Farrow for the last 17 years.
"The family has been Harley riders for years, and I couldn’t imagine better stewards of this legacy business in the decades to come," Althoff said about Ricart Automotive. "Their passion for motorcycles and the people who ride them convince me that they will dominate the Harley-Davidson dealer ranks as they have the Ford ranks.”
A previous Auto Remarketing article includes more information on Ricart Automotive, and another covers Ricart's new Express Checkout service.
“Two wheels. One planet. Zero emissions.”
That is the motto for Silicon Valley-based electric personal mobility startup GenZe. The company started out in 2012, developing IoT-connected electric scooters and bicycles in Fremont, Calif.
GenZe says that since then, it has become a key supplier within the shared mobility category, launching fleet electric bikes and scooters with public operators as well as fleets in the tourism, delivery, college and corporate sectors.
On Monday, GenZe announced it joined the North American automotive division of automotive engineering company, Mahindra Group. The companies say the acquisition reflects the personal transportation industry’s rapidly changing landscape in 2019.
That changing landscape includes bikeshare acquisitions by Uber, Lyft, and Ford Motor Co.
“Mobility is rapidly evolving and we’re adapting to these changes to stay at the forefront of personal transportation,” Rick Haas, chief executive officer of Mahindra Automotive North America, said in a news release. “Ultimately, we are a mobility business and we see GenZe as a great addition to our growing portfolio of purpose-designed transportation solutions.”
The companies note that their partnership will combine Mahindra Automotive’s design, engineering, and manufacturing resources with GenZe’s expertise in the two-wheeled electric vehicle category.
GenZe started out with an initial product offering that featured a consumer e-Bike and what it describes as “the world’s first IoT e-Scooter featuring telematics.” The brand went on to offer a smartphone-connected electric bicycle.
Mahindra Automotive North America began operations in 2017, offering the Roxor off-road vehicle, which it says is creating a new subsegment in the “side X side” industry. The company says it is a finalist for the United States Postal Service replacement vehicle program.
“Micro-mobility — in the form of electric bikes and scooters — has become one of the fastest growing segments in transportation, as we work to provide ‘last-mile’ solutions within heavily congested cities,” Tom Valasek, GenZe chief commercial officer, said in a news release. “Joining Mahindra Automotive will give GenZe access to resources and scale. We can grow our platform of products faster and continue to build our connected digital offerings.”
Manheim has seen how consumer brands such as Amazon and Netflix have increased customer engagement by deploying personalized services. Now, Manheim is following that example to enhance its own offerings, like its mobile app and Simulcast service.
In other Manheim news, the company is now integrating with vAuto’s Provision to help dealers value consumer trade-ins and act more quickly to list vehicles in the wholesale marketplace.
For the first piece of news on Manheim’s personalization initiatives, the company says it is working to deliver experiences targeted toward each individual dealer using its digital properties.
Manheim says its moves toward more personalization come as dealers are demanding digital channels that allow dealers to confidently and efficiently buy and sell inventory. They will be able to find the vehicles most relevant to them, gain quick access to their most frequently used digital tools, and find more information about the vehicles they are looking to purchase.
The Manheim.com homepage, search experience, Simulcast, and Seller Dashboard are among the areas that the company says will see enhanced personalization in 2019.
In addition, Manheim says it is creating “a new mobile experience” for dealers. That personalized experience will provide dealers features such as recommended vehicles, relevant filters, improved keyword search and faster access to important information. Sellers will receive various services from the desktop via the mobile app.
A group of dealers will be part of a pilot program for the new Manheim.com in the second quarter. After that, all users will be able to try the new experience throughout the rest of 2019.
“The enhancements to both Manheim.com and the mobile app reflect Manheim’s continued investment in digital channels,” Zach Hallowell, vice president, Manheim Digital Marketplace, said in a news release. “With solutions geared exclusively for our clients, dealers will be able to navigate the digital wholesale marketplace with increased information, helping them make faster and more informed decisions.”
For the second recent piece of Manheim news, the company is describing its integration with vAuto’s Provision as the first integration between two Cox Automotive mobile apps. The integration combines two mobile technologies, vAuto’s Provision app and Manheim Express, and the company says that helps dealers list inventory for wholesale quickly. Not having to transport a vehicle to auction saves time and money, the company adds.
Manheim says the connection helps make wholesaling vehicles easier and more cost-effective. Dealers evaluate approximately 450,000 trade-ins each month with Provision. Of those, 50,000 end up in Manheim’s wholesale marketplace, according to the company.
“The integration helps dealers know how much they can get for a vehicle at wholesale, and begin the wholesale process, whether it’s during a trade-in appraisal or after a vehicle hasn’t sold at retail, with a single tap on a mobile device,” Randy Kobat, senior vice president of vAuto, HomeNet, and Dealertrack DMS for Cox Automotive, said in a news release.
When it is time for vAuto dealers to wholesale a vehicle, the Manheim Express integration gives them what the company is calling a Guaranteed First Bid — or an instant, real-money offer — on that vehicle. Guaranteed First Bid is driven by valuation data from the Manheim Marketplace Report, and it sets a minimum floor price for a dealer’s vehicle.
Dealers using Guaranteed First Bid can reduce their risk and make good decisions during their appraisal and wholesale processes, according to the company.
Manheim will purchase the vehicle at the Guaranteed First Bid price if the vehicle does not sell for the floor price, or higher, within two sale-days of being listed. Dealers can quickly move unwanted vehicles off their balance sheets, according to Manheim.
“Combining Manheim Express’ Guaranteed First Bid with vAuto’s Provision appraisal processes provides dealers greater confidence in the values they are placing on trade-in vehicles,” Derek Hansen, vice president of Offsite Solutions at Manheim, said in a news release. “And with the ability to instantly list a vehicle, this partnership shows the seamless experience Cox Automotive is creating for dealers in the new digital wholesale marketplace.”
A new partnership could reduce the concerns dealers might have with adding higher-mileage vehicles to their inventory.
DealersLink, an automotive systems integration and networking technology company, announced the partnership last week with vehicle contract program company Alpha Warranty Services. The companies say the partnership will give DealersLink members the ability to add Alpha Warranty Services’ high-mileage warranties to units directly from the vehicle details page.
The ability of DealersLink members to add Alpha’s high mileage warranties directly from the VDP will allow dealers to estimate the cost of a warranty to the consumer, while determining the profit realized from selling an extended warranty, DealersLink noted in a news release.
DealersLink notes that it has worked to eliminate wholesale transaction fees for more than 13 years, with $1 billion of used inventory available 24 hours per day, seven days per week. Members using the Marketplace can stock their lots with reconditioned units, locate hard-to-find vehicles for their customers, sell inventory without incurring wholesale losses, and arrange book-for-book trades, according to DealersLink. Members pay only a monthly fee to participate, and never pay per-vehicle auction fees.
“DealersLink has completed the integration with Alpha that will instantly generate per unit warranty quotes for DealersLink members inside the platform,” DealersLink chief executive Mike Goicoechea said in a news release.
Ty Kielblock of Alpha Warranty Services added in a news release that his company’s warranties work to give the consumer and dealer peace of mind with high-mileage vehicle purchases.
Dealerships that eventually will have 2020 Toyota models in their inventory now have another feature to tout to potential buyers.
SiriusXM announced on Wednesday that it has reached what the company called a “landmark” agreement with Toyota that will expand the installation of SiriusXM to all Toyota models and trims sold in the continental U.S.
Officials said the expansion is expected to start with 2020 model year vehicles produced in the fall of this year. They added the agreement will result in SiriusXM becoming a standard feature as Toyota’s next generation head units are rolled out to Toyota cars, trucks and SUVs.
SiriusXM also mentioned the agreement extends the long-term relationship between the two companies into 2028.
Toyota customers will continue to receive a three-month introductory subscription to SiriusXM All Access, which is SiriusXM’s most expansive programming package and gives the subscriber access to SiriusXM both on the radio and via the SiriusXM app.
“This extension represents a milestone agreement between our two companies,” said Christopher Lam, senior vice president and general manager of automotive partnerships for SiriusXM.
“Our long-standing relationship with Toyota has helped grow SiriusXM to over 34 million subscribers, and we’re excited that Toyota will now offer even more customers access to all of SiriusXM’s exclusive, award-winning content,” Lam continued.
Of particular interest in the used-vehicle space, the companies highlighted customers who purchase or lease Toyota certified pre-owned vehicles will also continue to receive a three-month introductory subscription to SiriusXM All Access.
“We are committed to delivering our customers the features and services they want, and because of the strong demand we see for SiriusXM, both from our customers and dealers, we’re making SiriusXM standard across our entire model lineup,” said Steve Basra, vice president of connected technologies for Toyota Motor North America.
“By building SiriusXM into every model and trim level, it will enable us to deliver SiriusXM to more Toyota drivers than ever before,” Basra went on to say.
Honda and car-sharing network, Zipcar, say that they are continuing to expand and test new mobility programs to help consumers get around easier. The two companies announced an expansion of their mobility partnership on Monday, with a goal to achieve what they see as increased access to car sharing in California and Ohio.
The expansion will add hundreds of new Honda vehicles to Zipcar’s fleet, with a focus on boosting Zipcar’s university program in California and its service in Columbus, Ohio.
In Columbus, Honda and Zipcar on Monday announced the launch of what they are describing as a first-of-its-kind exclusive Honda car-sharing fleet, expanding Zipcar’s program that first launched in the Ohio city in June 2018. Thirty vehicles under the new expansion will operate at 17 Columbus locations, including a new campus car-sharing program at The Ohio State University.
In California, Honda is working to continue as Zipcar’s preferred automotive partner at schools within the University of California system and select campuses within the California State University network. The automaker is now announcing special rates on Zipcar memberships to students on campus and special driving rates to Zipcar members who use the 145 Honda vehicles located at various campus sites.
Zipcar and Honda announced their strategic partnership in 2012. Through the relationship, “We’ve been able to offer our members access to high-quality vehicles and support a number of valuable mobility programs, including the two new initiatives we’re announcing today,” said Tracey Zhen, Zipcar president. “We’re pleased to continue working with Honda to bring Zipcar to more people in more places.”
Steven Center, vice president of connected and environmental business development at American Honda, added that the expanded program will help reduce emissions and city congestion.
Through the expanded partnership, nearly 200 new Honda vehicles will now be available to Zipcar members, including the Honda Civic, Honda CR-V, Honda Fit, Honda HR-V and Honda Odyssey.
Students attending any school in the University of California system, select schools in the California State University network and The Ohio State University can now join Zipcar and drive a Honda at special rates by visiting www.zipcar.com/universities.
Two technology companies have entered into a strategic partnership that they say will help OEMs and dealers take advantage of the best current digital products to increase sales and service opportunities.
Autodata Solutions and motormindz announced the news at the NADA convention and said the collaboration will help auto manufacturers increase innovation and flexibility in their certified dealer digital programs.
Supporting several OEM Tier III digital initiatives is a current Autodata project, and the company is partnering with other technology brands to focus on transparent KPIs and measurable ROI. Accessing, assessing and adopting the best of the many new digital products that enter the marketplace each year is a main priority for Autodata, and the company noted in a news release that “this is at the heart of the motormindz business model.”
Autodata and motormindz believe that for OEMs and dealers to survive and succeed in the future, they must adopt technology in areas such as artificial intelligence and digital retailing, and they must use data to connect and personalize the shopping experience.
“Motormindz is singularly focused on seeking out, assessing and enabling the next generation of digital solution providers for the automotive retail channel,” Jeff Van Dongen, chief executive officer at motormindz, said in a news release. “We're excited to partner with Autodata and provide more visibility to technology innovation in the auto retail space.”
It’s a potential clash that can lead to frustration for both potential buyers and dealerships — haggling over what a trade might be worth.
According to a recent survey conducted by Black Book, consumers believe a vehicle trade-in quote that’s far from expectations remains the second-most likely reason to kill a deal. Editors acknowledged the trade-in process remains largely inefficient, which is why Black Book and The Appraisal Lane have teamed up to give consumers what the company say is an enhanced trade-in experience while improving dealer efficiencies.
The Appraisal Lane launched a mobile app — accessible from dealer websites and the app store — providing consumers with cash offers for their trades, in minutes, from a live team of experts. With this new platform, consumers can start their research with Black Book’s precision-based values to get the most market-reflective price range for their used vehicle.
When ready to transact, individuals can connect in real-time with The Appraisal Lane by answering simple condition questions, uploading photos of their vehicle and getting a guaranteed offer. The offer is redeemable at a participating dealer as money toward the purchase of a replacement vehicle, or as cash in hand.
The Appraisal Lane team utilizes Black Book valuation data in conjunction with market insights and deep appraisal knowledge across all makes and models to assess each used vehicle on its own merit and provides consumers with the best possible cash offer.
Real time communication between consumers and a live team of appraisers can give consumers the confidence and transparency that they have been missing in current online vehicle valuation processes.
“Black Book and The Appraisal Lane share the same fundamentals of combining data science with human touch to most accurately determine a vehicle’s value,” said Jared Kalfus, executive vice president of revenue for Black Book.
“Our values, coupled with The Appraisal Lane’s live cash offers, effectively put the dealership trade-in process right in the palm of a consumer’s hand,” Kalfus continued. “Dealers that offer this experience are poised to improve customer engagement, increase business, and stand apart from the competition.”
Jeff Risner, a 30-year auto industry veteran, and co-founder and chief executive officer of The Appraisal Lane, says the launch his company’s consumer app was designed to improve a process that has been largely underserved by technology.
“There are two universal truths in our industry,” Risner said. “Every used car is as unique as the person driving it, and a used car is only worth what someone is willing to pay for it, at any given time. These truths involve human interaction — a live appraisal and a cash offer from experts who incorporate quality vehicle values in their toolset.
“When you use technology to connect with consumers in real-time and make them a fundamental part of the process, you provide an exceptional trade-in experience and create a much deeper level of engagement before they visit the dealership,” Risner continued.
Dealers currently use The Appraisal Lane’s industry products to manage, move, and source inventory and are now utilizing the company’s consumer app to streamline the trade-in process, improve customer satisfaction and make more retail deals.
Launched a little more than three years ago, The Appraisal Lane community consists of more than 1,000 members and is growing.
