OAKBROOK TERRACE, Ill., March 31, 2016 /PRNewswire/ -- Dealers say vAuto's new Stockwave tool helps them eliminate the seemingly endless amount of time it currently takes to find auction vehicles that fit their inventory and profit objectives.
"Stockwave brings all the right cars into one screen in an instant so you can just zero in on the ones you have a realistic shot at buying," said Trent Waybright, director of preowned operations for the six-store Kelley Automotive Group, Fort Wayne, Ind. "Before, we went to each sale and searched their cars individually. It felt like a never-ending process. Now, Stockwave instantly shows me the right cars for my lot that I can likely acquire to meet my profit objectives."
Waybright is one of several pilot dealers who have been using Stockwave in advance of the tool's official launch this week at the National Automobile Dealers Association (NADA) convention in Las Vegas.
"Our goal with Stockwave is two-fold," said Dale Pollak, vAuto® founder. "First, we wanted to provide a more efficient and profit-focused way for any dealer, franchised or independent, large or small, to acquire the right wholesale inventory on the money. Second, we wanted an auction-neutral system that serves up any car, from any auction, based solely on the dealer's individual buying and inventory investment preferences."
Through deep integrations with leading auctions and Cox Automotive™ technology, Stockwave automatically streams wholesale vehicles that fit a dealer's used vehicle investment strategy, target profit, age, condition, equipment and other preferences. Stockwave also combines retail and wholesale valuation data with dealer-set cost estimates and profit objectives to provide auction bid guidance on every vehicle.
Stockwave's dealer-focused approach appeals to dealers like Adam Diskey, who leads a three-person inventory team that sources auction vehicles for nearly 30 J.D. Byrider-owned dealerships.
"We're unique from other dealers," Diskey said. "We target a broader range of vehicles at the lower end of the price range. Our goal is to find the cars that we can buy as quickly and efficiently as possible. But we've struggled the most with simulcast sales and run lists. We can search for hours and hours."
Using Stockwave's tailored stream of inventory recommendations, Diskey estimates his team members save at least two hours a day apiece—time they previously spent scouring run lists. "With Stockwave, you put in your financial information and targets, and you're off buying pretty quickly," he said. "The learning curve with Stockwave is a lot shorter than other sites and tools."
At NADA, dealers who visit the Stockwave booth (#1512C) can see how the tool works through live evaluations of their own on-the-ground used vehicle inventories. Stockwave demos will also show how the tool instantly recommends inventory that best fits a dealer's auction purchase preferences and profit objectives.
"We anticipate a few eye-opening moments as Stockwave shows dealers how well their inventories align to their local markets," said Randy Kobat, vice president and general manager for vAuto. "We believe dealers who see Stockwave will recognize that the future of wholesale sourcing has arrived."
Franchise and independent dealers interested in Stockwave can visit www.stockwave.com for more information.
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers' used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto's visionary founder, Dale Pollak, the Provision suite guides used vehicle acquisition, appraisals, pricing, merchandising and more based on real-time, local market supply-and-demand data. In 2014, vAuto combined the Velocity method with the power of incentive management to create the Conquest™ new vehicle inventory management and pricing tool. In 2016, vAuto launched Stockwave to serve as the foundation for a suite of wholesale inventory acquisition solutions. Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has nearly 30,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
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