CARMEL, Ind. –
KAR Global says it has enhanced its ADESA.com recommendations carousel to include dealer trade-ins from TradeRev.
The updated recommendations carousel is the latest of modernizations to ADESA’s digital marketplace. The company said the modernizations can help dealers find profitable and high-demand used vehicles tailored to their unique business needs.
KAR said that with the new integration between the ADESA and TradeRev marketplaces, U.S. dealers can gain more data, choices and opportunities to turn a higher profit in less time.
The more than a dozen real-time personalized vehicle suggestions in the carousel are based on recent successes, low lot supply, under-supplied market, past purchases and recently viewed vehicles.
The company also said that to boost profits, dealers can use KAR’s exclusive tool to calculate potential profit on under-priced vehicles.
TradeRev’s marketplace integration adds thousands of fresh dealer-to-dealer trade-ins to the recommendations carousel. With the integration, dealers can gain increased access and visibility into more vehicles.
The company said dealers also can gain a simpler method of finding 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. KAR’s data science and analytics engine DRIVIN, using propriety algorithms and data to deliver actionable market intelligence, powers the vehicle recommendations.
KAR chief commercial officer and ADESA president John Hammer said dealers want to sell more cars, and they want to do so faster and more profitably.
“So we’re focused on developing tools and technologies that help them do exactly that,” Hammer said in a news release.
Hammer continued, “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.”
KAR president of digital marketplaces Rick Griskie said the company was providing tools for its dealers to improve their outcomes with greater accuracy in purchasing decisions so they can source inventory faster and secure top profit potential.
“KAR’s recent marketplace integrations offer dealers greater convenience and a seamless experience through the combined power of our industry-leading data and technology,” Griskie said.
TradeRev president Mark Endras added, “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.”
Endras continued, “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.”