Dealer Solution Partners Extend their 5-year Partnership Agreement and Expand Nation-wide Product Offering
Toronto, ON – June 12, 2015 – Today, TRADER Corporation announced it has renewed its partnership with US based solutions company, vAuto. The two companies, which have been in partnership since 2011, have extended their relationship for five years to help dealers address their used vehicle inventory management challenges.
The agreement will allow TRADER to continue being the exclusive Canadian reseller of the vAuto product suite, and will enable vAuto to maintain their ongoing integration with TRADER’s proprietary consumer and marketplace data.
“It was important for us to continue our partnership with vAuto. Since the beginning, we’ve seen exponential growth in product adoption, and the dealers who use vAuto have seen remarkable results, including a 30% reduction in the average days in inventory. vAuto provides major financial benefits to a dealer,” explains Robert Rath, VP of Dealership Products & Business Development at TRADER.
With over 10 years of industry tenure, vAuto is the premier provider of inventory management solutions and serves more than 7,500 dealerships in North America. The company hopes to continue expanding their customer base in Canada through TRADER’s existing network of automotive dealers.
“vAuto’s technology helps dealers mine real-time local market data to make used vehicle decisions,” says Randy Kobat, Vice President and General Manager for vAuto. “With these data-driven insights, they understand the correct vehicles to stock, how much to pay for a trade-in or auction vehicle and how to price vehicles to drive traffic. These dealers have learned that real-time market data provides better outcomes for their businesses than relying on transactional and historical data to make decisions.”
As part of the renewed partnership, TRADER and vAuto are in discussions to introduce exciting new initiatives in the coming months.
The first initiative coming later this year is the launch of vAuto’s Subprime Booking tool, which will assist dealers in sourcing subprime inventory to meet the demands of credit-challenged customers. With concerns over Canada’s growing consumer debt, the need for a Subprime tool is more relevant than ever. “Subprime is an area of business that tends to be overlooked, but in the grand scheme of things dealers could be losing significant sales and F&I profit every month on Subprime vehicle sales,” says Rath.
Later in the fall, TRADER will be hosting an exclusive event featuring vAuto founder Dale Pollak, who created the Velocity Method of Management and authored three books for dealers on the subject. Pollak will share his forward-thinking insights and inventory management best practices for Canadian dealers. More information on the event schedule will be released in the coming weeks.
TRADER Corporation is a trusted Canadian leader in online media, automotive consumer marketplaces, and automotive-focused digital marketing solutions. The company’s best-of-breed product portfolio includes Web Solutions powered by Dealer.com, a full arsenal of tools and technology to turn automobile dealerships into serious online competitors, and vAuto’s Provision®, a robust offering to help clients make faster and smarter inventory decisions based on real time local market knowledge. Our online marketplaces and destinations include: AutoTrader.ca™, AutoHebdo.net™ and Autos.ca. Please visit go.trader.ca 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 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 addition, vAuto Genius Labs provides smart, simple and stand-alone solutions including AuctionGenius. Headquartered near Chicago, Illinois, vAuto is wholly owned by Cox Automotive™, which also includes Manheim Auctions, Autotrader, Kelley Blue Book®, Xtime®, VinSolutions® and Haystak® Digital Marketing and HomeNet Automotive®. For more information, visit www.vauto.com.