vAuto now has a new offering within vAuto Provision, a suite of tools that can help dealers adopt a more transparent and turn-focused approach to used-vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. That new feature is Wholesale Hub.
Here’s how it works: Wholesale Hub is the “new way to wholesale inventory from within vAuto Provision,enabling dealers to wholesale more efficiently and profitably,” according to the company .
It connects with Cox Autmotive’s Manheim, and works to synchronize and streamline the vAuto Provision wholesale workflow to several Manheim channels, including Manheim.com and OVE, Manheim in-lane sales and Manheim Express.
First up, the solution will be launching for vehicles to be sent to the Manheim Express Concierge team, followed by Manheim’s other channels later in the year.
During this period of slowing retail sales, Wholesale Hub gives dealers a chance to still capitalize on the rising interest and profitability of used cars. vAuto points out that wholesale efficiency will be “critical” as dealers move into home stretch of the year, “facing continued inventory challenges and sales roadblocks.”
Derek Hansen, who is vice president of wholesale operations at vAuto, said in a news release: “Wholesale Hub creates efficiencies in the wholesale vehicle disposal process.. It helps Provision dealers save time, reduce time-to-sell and maximize profits by streamlining processes that find inventory marked for wholesale, send inventory to auction, and track wholesale inventory from within Provision. These gains in efficiency equate to real advantages given current industry challenges.”
Through Wholesale Hub, dealerships now list cars through Manheim in bulk in the same time that it used to take to process one vehicle. vAuto explained. This makes it faster and easier to get their vehicles into the wholesale marketplace — whether those vehicles will be sold from the dealers’ lots or on site at a Manheim location.
For vehicles sent to a Manheim location, dealers can move their vehicles through every step of the wholesale process with Manheim’s marketplace.
For offsite vehicles, dealers can designate a car as wholesale and choose Manheim Express for their wholesale option. A trained Manheim specialist will then go to the dealer’s lot, inspect the vehicle, cover it with an Inspection Guarantee and enable the vehicle to be listed on Manheim Express, Manheim.com and OVE simultaneously.
They can then track the vehicle’s status in Wholesale Hub. (vAuto plans to make Wholesale Hub available to other auction marketplaces later this year, the company noted.)
“The partnership between Cox Automotive brands vAuto and Manheim makes it all a lot easier,” said Paul Golias, corporate ued-vehicle director at Modern Automotive, in the news announcement. “We want to be able to retail everything, but if we can get more in wholesale, and free up those funds, that’s all the better.”
Source : AutoFinanceNews