HGreg liked the results of pilot program using some of ACV’s digital solutions, so the dealership group decided to use more of the provider’s tools.
A news release distributed on Monday highlighted HGreg’s attempts to accelerate its consumer sourcing strategy via the Drivably trade-in and lead nurture website solution and to improve internal operations through its adoption of Monk computer vision technology.
Following a successful Drivably pilot program at Kendall Nissan, HGreg deployed Drivably at all of its U.S. franchised stores.
HGreg further enhanced its digital capabilities by leveraging Monk ACV’s artificial intelligence-powered computer vision technology for used vehicle condition evaluation and damage classification.
“We are proud to be the first automotive group in North America to leverage this AI-powered damage detection when buying and selling used vehicles at our dealerships around the country,” HGreg president and chief executive officer John Hairabedian said in the news release.
“HGreg was founded on a commitment to reinvent the vehicle buying journey by providing transparency,” Hairabedian continued. “Monk’s cutting-edge imaging technology will ensure that our dealerships can offer consumers the most accurate vehicle condition reports possible as they navigate their car buying experience.”
Drivably provides HGreg with an easily integrated consumer buying experience that can leverage a condition-adjusted machine learning model for vehicle evaluation. Through Drivably, HGreg can offer consumers the best price for their vehicle, helping to secure the trade-ins and gain new customers who use trade-ins to buy new vehicles.
If dealers decide not to keep consumer trade-ins for frontline retail inventory, they can wholesale the trades leveraging ACV’s inspection services and wholesale digital marketplace.
HGreg’s digital adoption includes enhancing their internal processes, as well.
With its integration of Monk, the group will leverage this new AI-powered technology to standardize and semi-automate the purchase and resale of used cars on their platform. Monk’s AI damage detection technology is now fully integrated into HGreg’s internal vehicle inspection operations, elevating the level of transparency of the condition report made available to its customers.
“We are honored to work with HGreg on delivering unprecedented levels of transparency to the automotive industry and a seamless vehicle appraisal experience to consumers looking to offload or trade in their cars,” ACV vice president of business and AI strategy Aboubakr Laraki said. “As the Monk solution expands its global footprint into North America, our industry-leading machine learning vision technology will enable dealers to acquire vehicles more efficiently as well as provide new avenues for accessing that inventory.”
HGreg elected to integrate with the Monk SDK (software development kit) and is the first dealer to launch Monk in North America to provide the guided photo capturing tool.
The technology is based on computer vision algorithms running pixel-level polygonal analysis to detect all damages visible to the human eye. Because the photo capture is guided by the software, the resulting smartphone images are high-quality data assets that can generate objective vehicle condition reports and reliable real-time detection and classification of damages.
Later this year, ACV said Monk and Drivably will be integrated to become a turnkey solution for dealers to offer to their consumers. ACV will leverage Monk’s AI-driven imaging technology to enable consumers to do a self-inspection right from their own mobile device, which will further inform the price dealers can offer consumers.
Source : AutoFinanceNews
