vAuto now has a new offering within vAuto Provision, a suite of tools that can help dealerships take a more transparent and rounder-oriented approach to used vehicle sourcing, valuation, pricing and merchandising based on real-time quotes on the to pursue local market. Request data. That new feature is the Wholesale Hub.
Here’s how it works: Wholesale Hub is the “new way to sell inventory within vAuto Provision and enable merchants to do more efficient and profitable wholesale operations,” the company said.
It connects with Manheim from Cox Automotive and is working on synchronizing and streamlining the wholesale workflow of vAuto Provision with multiple Manheim channels including Manheim.com and OVE, Manheim In-Lane-Sales and Manheim Express.
Initially, the solution will be rolled out for vehicles sent to the Manheim Express Concierge team, followed by Manheim’s other channels during the year.
During this period of slowdown in retail sales, Wholesale Hub offers dealers the opportunity to continue to benefit from the increased interest and profitability of used vehicles. vAuto points out that wholesale efficiency will be “critical” as dealers enter the home straight of the year and “face ongoing inventory challenges and sales deadlocks”.
Derek Hansen, Vice President of Wholesale Operations at vAuto, said in a press release: “Wholesale Hub creates efficiency in the vehicle disposal process in wholesale. It helps commission traders save time, reduce time to sale, and maximize profit by streamlining processes that find inventory tagged for wholesale, send inventory to auction, and track wholesale inventory within commission. These efficiency gains correspond to real benefits given the current challenges facing the industry. “
Via the Wholesale Hub, dealers now list cars in bulk via Manheim in the same amount of time it used to take to process a vehicle. vAuto explains. This means that your vehicles can be brought to the wholesale marketplace more quickly and easily – regardless of whether these vehicles are sold on the dealers’ sales area or on site at a location in Manheim.
For vehicles sent to a location in Manheim, dealerships can move their vehicles through each step of the wholesale process on the Manheim marketplace.
For offsite vehicles, dealers can label a car as wholesale and choose Manheim Express as the wholesale option. A trained Manheim specialist then drives to the dealer, inspects the vehicle, covers it with an inspection guarantee and enables the vehicle to be recorded on Manheim Express, Manheim.com and OVE at the same time.
You can then track the status of the vehicle in the wholesale hub. (vAuto plans to make the wholesale hub available to other auction marketplaces later this year, the company noted.)
“The partnership between the Cox Automotive brands vAuto and Manheim makes everything a lot easier,” said Paul Golias, Corporate Ued Vehicle Director at Modern Automotive, in the press release. “We want to be able to retail everything, but if we can get more wholesale and free up those funds, that’s all the better.”