Industry-Changing Deals Add Over 120 Canadian Dealerships and Tens of Thousands of Vehicles to the TradeRev Dealer Network
TORONTO, April 4, 2017 /CNW/ - TradeRev, an innovative tech startup focused on streamlining automotive sales between dealers, today announced a series of exclusive relationships with some of the country's largest dealer groups including Dilawri Group of Companies, AWIN Group, The Humberview Group, Open Road Automotive Group, Weins Canada Inc. and The MIERINS Automotive Group.
The agreements were signed in partnership with ADESA, a 50-percent stakeholder in TradeRev and business unit of KAR Auction Services, Inc. (NYSE: KAR). The arrangements make ADESA the exclusive physical auction partner and TradeRev's mobile app the exclusive online remarketing tool for these large geographically diverse dealerships. The groups represent more than 100 dealerships across Canada and will add tens of thousands of vehicles to the inventory available through TradeRev's broad network of buyer and seller dealers.
"We're tremendously proud to have earned the trust and confidence of some of Canada's largest, most successful and most technologically sophisticated dealer groups," said Mark Endras, TradeRev CEO and Co-Founder. "Today's news is a big step forward for our company, our mobile app solution and the wholesale used-car industry in Canada."
TradeRev's technology builds transparency and convenience into every automotive transaction by placing live, real-time bidding auctions into the palm of dealers' hands. The intuitive, easy-to-use mobile app provides a fast, efficient and accurate way to obtain true market value for trade-ins and used-vehicle inventory. With the added volume of vehicles from these agreements, dealers will have increased access to a broader range of used vehicles that fit their unique dealer profile and business model.
"The ADESA-TradeRev partnership and KAR's diverse platform of capabilities will provide these progressive dealer groups with a true end-to-end remarketing option," added Endras. "This huge value-add is not something that's typically available at the dealer level."
"We have strong, longtime partnerships with dealer groups in Canada, and we're always looking for new, innovative ways to deliver value," said Lisa Scott, Chief Client Officer for ADESA Canada. "With our combined services and offerings, we have the ability to streamline the used-vehicle lifecycle and generate better outcomes for dealers."
TradeRev is proud to have created the world's first transparent automotive exchange, where every transaction plays out in the open for all to see and where both buyers and sellers are equally set up to win. Sign up here to start accelerating your sales, or learn more about TradeRev's new Pro and Standard plans at DealerEndorsed.com.
TradeRev is an innovative 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 participating TradeRev 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. traderev.com
For further information: Media Inquiries: Aaron Caissie [High Road], (416) 644-2269, [email protected]