KAR Global Expands Data-Powered Recommendations Fueling Dealer Growth With High-Grossing, Fast-Turning Vehicles
Enhanced ADESA.com Recommendations Carousel in the U.S. Integrating Tailored Choices Now Includes Fresh Dealer Trade-Ins Available on TradeRev
KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a global vehicle remarketing and technology solutions provider, amplifies its industry-leading ADESA.com recommendations carousel to include dealer trade-ins from TradeRev. The new integration between the ADESA and TradeRev marketplaces empower dealers in the U.S. market with more data, choices, and opportunities to turn a higher profit in less time.
“Dealers want to sell more cars, faster and more profitably, so we’re focused on developing tools and technologies that help them do exactly that,” said John Hammer, Chief Commercial Officer for KAR and president of ADESA. “Since launching the ADESA.com recommendations carousel, our dealers have enjoyed increased success from their personalized vehicle suggestions. Using DRIVIN’s proprietary data and technology, recommended vehicles bring in an average margin of $2,500 and turn in 35 days, which is 40% faster in comparison to market averages.”
The updated recommendations carousel is the latest in a suite of modernizations to ADESA’s digital marketplace, making it easier than ever for dealers to find profitable and high-demand used vehicles tailored to their unique business needs. The carousel includes more than a dozen real-time personalized vehicle suggestions based on recent successes, low lot supply, under-supplied market, past purchases and recently viewed vehicles. Plus, dealers can maximize profit by using KAR’s exclusive tool to calculate potential profit on under-priced vehicles.
“KAR’s recent marketplace integrations offer dealers greater convenience and a seamless experience through the combined power of our industry-leading data and technology,” said Rick Griskie, president of digital marketplaces at KAR. “We’re giving our dealers tools to improve their outcomes with a higher degree of accuracy in purchasing decisions—sourcing inventory faster and securing the highest profit potential.”
TradeRev’s marketplace integration adds thousands of fresh dealer-to-dealer trade-ins to the recommendations carousel, offering dealers increased access and visibility into more vehicles and a simpler way to find the vehicles that meet their specific inventory needs. TradeRev vehicles are identified via the company logo on the listing, including the sale day and start time. Vehicle recommendations are powered by KAR’s data science and analytics engine DRIVIN®, using propriety algorithms and data to deliver actionable market intelligence.
“This enhancement matches dealers with nearly 50% more vehicles that they can turn quickly while making a sizable profit—using cutting-edge data analytics to save time and eliminate the guesswork out of the decision-making process,” said Mark Endras, president of TradeRev. “Our new functionality also supports TradeRev sellers, increasing views, bids and buys with potential visibility by more than 150,000 active buyers across KAR’s marketplaces.”
ADESA is a leader in the wholesale auto auction industry, serving customers online and at its 74 auction locations across North America, offering technology-based solutions that enable dealers to maximize ROI. TradeRev is a digital marketplace platform facilitating live, dealer-to-dealer vehicle auctions.