SEATTLE, June 13, 2019 /PRNewswire/ -- OfferUp, the largest mobile marketplace in the U.S. for local buyers and sellers, today announced the expansion of its OfferUp Autos program to include partnerships with marketing services, inventory management systems, and dealer management system (DMS) providers.
Thousands of dealerships across the country will now be able to use their existing inventory management, marketing, and DMS systems to post vehicles to millions of prospective buyers on OfferUp. They will also be enrolled in the company's Verified Auto Dealers program, which gives dealers digital tools to broaden their exposure and manage leads coming from OfferUp's marketplace, including the ability to:
List their vehicle inventory feed automatically from their existing systems
Increase their visibility through advanced advertising solutions
Streamline communication from car buyers with Click-to-Call, chat, and other dealer-exclusive features like the Top Lead Indicator, a machine learning tool that helps automotive dealers identify prospective car buyers who are ready to buy their cars
"More than 44 million people use OfferUp annually to buy and sell locally and we see millions of views every week from people looking at listings in our Cars & Trucks category," said Andrea Moro, Director of Product, Automotive at OfferUp. "Verified dealer listings are promoted across the OfferUp platform and are specifically designed to drive more traffic to the showroom floor. In addition to our current dealer-specific features, our team is constantly expanding our offering based on feedback from our current customers. Our Top Lead indicator, for example, allows dealers to identify more serious inquiries and sell more cars." OfferUp has signed a number of partners at launch including Hammer, MotorLot, LotVantage, Dealerfront, DealerSync, Detroit Trading, Auction123, and AutoSweet.
Since 2011, OfferUp has paved the way for a simpler, more trusted way to buy and sell locally. OfferUp Autos was launched in 2018 to reduce the friction in the car buying and selling process by making it easier for customers to browse local inventory, and for sellers to post their listing for free. The company estimates that 10% of used car sales in the U.S. last year were sold through its marketplace and statistics show more than 30% of cars sold on OfferUp sell within two days, and more than 50% sell within a week. In addition to providing dealer-focused tools, the program helps buyers find the best deals nearby and connect with independent sellers and dealers instantly.
"OfferUp Autos has been an amazing resource because all of my salespeople can access our leads in real-time with quick access from a single user login," said Paul Kochman, general manager at R&B Auto Center in Fontana, CA. "We've also seen better ROI for our third-party internet advertising, so all-in-all, we've been elated with our overall success."
Adding dealer inventory and marketing partners to OfferUp Autos is the latest in a series of updates launched this year to strengthen the program for dealers. In addition to the Top Lead Indicator, OfferUp added an option for Buy-Here-Pay-Here dealers, who can now add a "Verified Low Credit Financing" label to their profile and list vehicles with a "Call for Details" tag in lieu of showing their vehicles' prices.
About OfferUp OfferUp is dedicated to building the simplest and most trustworthy way for people to buy and sell in their communities. As the largest mobile marketplace for local buyers and sellers in the U.S., the company's iOS and Android apps have been in the top five most popular shopping apps lists for more than three years. The privately held company is based in Bellevue, WA and backed by top investors including Andreessen Horowitz, Warburg Pincus, GGV Capital, T Rowe Price and Coatue Management. For more information, visit our website and follow us on Twitter and Facebook.