Initiative Promotes Advantage of Using TradeRev's Mobile App Before Sending Vehicles to Physical Auction
TORONTO, Aug. 10, 2017 /CNW/ - TradeRev, an innovative tech startup focused on streamlining automotive sales between dealers, has teamed with ADESA Canada to promote the advantages of going "Digital First." This new strategic approach encourages dealers to utilize TradeRev's revolutionary mobile app auction platform before sending cars to a physical auction. TradeRev enables seller dealers to launch their own live vehicle auctions to a nationwide network of buying dealers to help liquidate and source inventory smarter, faster and cheaper.
"Mobile technology is disrupting the wholesale auction marketplace by empowering dealers and putting them in full control," said Mark Endras, TradeRev CEO and co-founder. "ADESA is North America's premier auction marketplace with thousands of strong, trusted dealer relationships. Partnering with them to accelerate the 'Digital First' revolution is exhilarating for both companies and incredibly exciting for our shared customers."
ADESA is a business unit of KAR Auction Services, Inc. (NYSE: KAR), which also holds a 50 percent stake in TradeRev. As part of this cross-brand collaboration, TradeRev will now have a physical presence in 14 ADESA auction locations. ADESA sales teams nationwide will leverage their strong, trusted relationships with thousands of dealers to help bring TradeRev to the forefront of the industry. Additionally, they will offer hands-on assistance to help Canadian dealers load their inventory onto TradeRev's intuitive, easy-to-use mobile app. Once launched, dealers can receive live, real time bids from any participating TradeRev dealer.
"ADESA is committed to helping our customers buy and sell inventory as quickly and efficiently as possible – regardless of the channel," said Trevor Henderson, COO of ADESA Canada. "No one can do this better than ADESA, TradeRev and the KAR family of companies. We've been the online services leader in Canada for many years and we are proud to extend the digitization of our industry to help dealers launch and win auctions from the palm of their hands."
Earlier this year, TradeRev and ADESA also announced a series of exclusive partnerships representing more than 100 dealerships across Canada. These relationships added tens of thousands of vehicles to the inventory available through TradeRev's broad network of buyer and seller dealers. With thousands of North American dealers utilizing TradeRev, more than 500,000 dealer auctions have been launched through the mobile app generating over 6 million dealer bids. TradeRev is available nationwide in Canada and in 10 markets across the US.
TradeRev is a mobile app that facilitates a transparent automotive exchange between used car dealers. Available on iOS, Android and desktops, TradeRev's real-time car auction technology introduces transparency and efficiency into the car selling transaction by facilitating one-hour, app-based auto auctions. TradeRev helps dealers and dealer networks obtain true market value and close deals faster via a broad network of TradeRev participating dealers. Backed by KAR Auction Services (NYSE: KAR), TradeRev operates in select markets across the United States, Canada, and the United Kingdom. When it comes to buying a car, everyone should come out a winner. Visit traderev.com today to learn more.
ADESA offers a full range of auction, reconditioning, logistical and other vehicle-related services to meet the remarketing needs of both its institutional and dealer customers. The company handles virtually every stage of the used-vehicle lifecycle through its related subsidiaries PAR North America, RDN, AutoVIN and CarsArrive. ADESA hosts weekly sales online and at its 77 auction locations across North America. The company's online auction venues include ADESA LiveBlock and ADESA DealerBlock. ADESA is part of the KAR Auction Services group of companies. Visit ADESA.com for details.
For further information: Media Inquiries: Alexandra Peco, High Road, (416) 644-2298, Alexandra.Peco@highroad.com