ACV Showcases Consumer Vehicle Acquisition Solutions at Digital Dealer Conference & Expo
07 Octubre 2024 - 3:45PM
ACV (Nasdaq: ACVA), the leading digital automotive marketplace and
data services partner for dealers and commercial clients, will
showcase how ACV MAX and ClearCar solutions can help them more
effectively acquire consumer inventory at the 2024 Digital Dealer
Conference and Expo. ACV will be sponsoring the Dealer Speed
Networking Lounge and ACV teammates will be present to demonstrate
how ACV’s integrated solutions can streamline the consumer vehicle
acquisition process with precise, condition-enhanced valuations.
ACV MAX is a leading enterprise solution offering a powerful
suite of appraisal, merchandising, and pricing tools designed to
optimize dealership operations. Fueled by ACV’s industry-leading
real-time data and advanced analytics, the updated suite of tools
provides dealers with actionable inventory insights and time-saving
automation capabilities to succeed in today’s competitive
market.
Designed for dealers looking for a simplified and more effective
consumer trade-in process, ACV MAX seamlessly integrates ACV’s
industry-leading trade-in valuation tool, ClearCar, to drive
consumer vehicle acquisitions. Vehicles running through the
ClearCar experience can be managed within ACV MAX to streamline the
consumer trade-in process. Together, they deliver a consistent
experience for both the consumer and the dealer when it comes to
precise pricing and transparency for a process that has —
historically — been complicated and ambiguous for consumers.
The new ACV MAX Appraisal sets the standard for appraisal and
pricing accuracy in the automotive industry. Powered by ACV's
trusted real-time data and AI technology that automates exterior
damage detection, this cutting-edge solution ensures precise
appraisals. Dealers can more quickly and accurately perform
professional-grade appraisals that are enhanced with reconditioning
alerts. These appraisals can directly link to wholesale options,
including ACV Auctions’ marketplace and Private Marketplaces, for a
seamless end-to-end inventory decision-making and disposal process.
By leveraging ACV’s inspection data, ACV MAX Appraisal maximizes
profitability by helping dealers avoid costly pricing and trade-in
mistakes.
ACV MAX offers dealers flexibility with two offerings, based on
their dealership needs.
- With ACV MAX Inventory, dealers get a
comprehensive inventory management system that seamlessly
integrates with dealer management systems (DMS) to provide accurate
insights and time-saving automation. These insights are powered by
the dealership’s own sales data, offering better stocking and
pricing recommendations based on their historical performance. It
features automated vehicle listings, detailed descriptions, and
syndication across multiple platforms, as well as data-driven
pricing recommendations tailored to local market conditions. This
ensures that dealers can make informed retail and wholesale
decisions, improve operational efficiencies, and increase
profitability -- even in the face of changing market trends. ACV
Max Inventory also features retail merchandising and sales support
to arm the dealership’s sales team with detailed vehicle
information at their fingertips.
- ACV MAX Appraisal is ideal for dealers who may
not require a full suite of inventory management tools, but need
powerful resources to attract customers, appraise vehicles
accurately, and leverage real-time market data. *Note: ACV MAX
Inventory includes all features from ACV MAX Appraisal.
Whether dealers choose ACV’s full inventory management suite or
only the appraisal tool, they can be confident they’re equipped
with the technology, data, and tools to meet their specific
needs.
Dealers are finding success by leveraging ACV’s full suite of
solutions to maximize their competitive edge. Lester Glenn, a
nine-rooftop automotive group, combines ClearCar with ACV MAX to
boost profits and optimize consumer vehicle acquisition results.
Matthew Costanzo, Chief Strategy Officer for Lester Glenn,
commented, “It has unlocked a new revenue stream for consumer
trade-ins at our dealerships. The condition-enhanced pricing engine
empowers each of our nine stores to make informed decisions that
ultimately benefit our bottom line. As a group, we are closing and
acquiring the vehicles of nearly 40% of our leads, crushing our
previous closing rates of 5%.*”
Lester Glenn further optimizes its ClearCar adoption and vehicle
acquisitions with reporting and data insights from ACV MAX to
determine the most profitable exit strategy—retail or wholesale—all
within a strict 60-day turn-time. Within its wholesale operations,
Lester Glenn unlocked an incremental revenue stream by turning to
ACV’s core digital auction solution. ACV Auctions gives dealers a
chance to optimize their profits when disposing of vehicles, thanks
to ACV’s pricing tool, ACV Market Report, and data-driven relevancy
delivery to a national buyer base. Lester Glenn has experienced a
140% increase in its wholesale gross profits, which they largely
credit to their partnership with ACV.
"With the launch of ACV MAX and its new Appraisal Tool, we’re
empowering dealers with the data-driven insights they need to stay
competitive in today’s market," said George Chamoun, CEO of ACV.
"We’re excited to participate again this year in the Digital Dealer
Conference and show attending dealers and other partners how access
to real-time data and cutting edge AI can drive better outcomes. At
ACV, our goal is to partner with our customers to build the right
combination of solutions and processes that will improve their
bottom line."
The launch of ACV MAX reflects ACV’s dedication to delivering
innovative tools that support dealer success in an ever-evolving
automotive landscape. By tapping into ACV’s growing data resources,
ACV offers dealers end-to-end solutions to accurately and quickly
appraise vehicles, manage retail and wholesale inventory, price
with accuracy, and boost their consumer vehicle acquisition
process.
*Based on Lester Glenn trade-in data
and close rates with previous trade-in tool
About ACVACV is on a mission to transform the
automotive industry by building the most trusted and efficient
digital marketplace and data solutions for sourcing, selling, and
managing used vehicles with transparency and comprehensive insights
that were once unimaginable.
ACV offerings include ACV Auctions, ACV Transportation, ACV
Capital, ACV MAX, True360, and ClearCar. For more information about
ACV, visit www.acvauto.com.
Trademark reference: ACV, the ACV logo, and ClearCar are
registered trademarks or trademarks of ACV Auctions, Inc., or its
affiliates in the United States and/or other countries. All other
trademarks referenced herein are the property of their respective
owners.
Media Contact:Maura
Dugganmaura@acvauctions.com
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