LAWRENCEVILLE, Ga., March 14, 2016 /PRNewswire/ -- Black Book, a division of the Hearst Business Media Corporation that provides new- and used-vehicle valuation services and custom data licensing solutions, today announced an exciting, collaborative partnership with DRIVIN that will deliver real value to their extensive network of over 10,000 active dealerships.
Black Book will be the exclusive vehicle valuation service provider to DRIVIN's proprietary, inventory trading platform that analyzes over 2M VINs every day to source, acquire and deliver the right used vehicles to their dealer partners. Additionally, Black Book will power the vehicle valuation service of DRIVIN Insights, a first-of-its-kind dealer tool that turns 100M data points into actionable stories for a dealer's lot and local market, based on consumer shopping trends, local market supply/demand, optimal inventory levels, and unique dealer behavior. DRIVIN Insights is currently in pilot and available to DRIVIN dealer partners without a subscription fee. As part of the collective agreement, Black Book will integrate DRIVIN's Buy Confidence and negotiated inventory widgets into their Black Book Digital mobile application, giving their network of 10,000+ active dealers access to retail-ready inventory nationwide. Finally, Black Book and DRIVIN will partner to produce data-driven learnings and used-car trend reports available to dealer partners.
"DRIVIN is disrupting the used car industry by offering dealers a better way to source, acquire and receive the right, quality inventory for their lot," said Black Book's Jared Kalfus, Senior Vice President, Sales. "We are excited by this long-term partnership and look forward to being their exclusive partner for valuation services, while offering our dealers access to DRIVIN's pre-negotiated inventory and premier sourcing service via our Black Book Digital mobile app. DRIVIN helps dealers rethink their sourcing strategy and stock the right used cars for their lot based on consumer demand, local market analysis and profit margins.
Black Book's vehicle values are an industry standard by dealers and consumers alike when pricing used cars. The company is respected not only for the accuracy of its values, but also the time-tested methodology around how data is collected and reported. Creating actionable stories through data is a key part of DRIVIN's value proposition, and DRIVIN's data science team will leverage Black Book's trusted information to create regular used-car trends and analysis to educate and help dealers make smarter buying decisions and optimize their lot when requested.
"We are proud to join forces with Black Book, a leader in the automotive industry. Using their data and standardizing vehicle valuations across our suite of products, including Insights and Marketplace, will help us better serve the needs of our current and future dealer partners," said Kayne Grau, CEO. "Additionally, we are excited to integrate our Buy Confidence and negotiated inventory widgets into the Black Book mobile app, expanding our reach and delivering real value to their dealer network with expanded nationwide access and efficient sourcing."
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBookAuto.com or call 800.554.1026.
DRIVIN is redefining used vehicle sourcing by bringing data and technology together in a first-of-its-kind, high-touch fashion to help automotive dealers acquire the right used cars, at the right price, right now. Combining highly personalized service with cutting edge technology and local market analytics, DRIVIN casts a nationwide net to find and vet quality, front-line ready, whole-sale priced vehicles, and connect them with dealers all across the country. Launched in 2015, DRIVIN is powered by CarCo Technologies.
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SOURCE Black Book; DRIVIN