The condition report is one of the most crucial elements of the digital transformation of automotive wholesale. A strong report is a window into every aspect of the vehicle; it’s the car’s digital fingerprint and helps determine how fast you can turn it and more importantly, how much profit it can yield. On the other hand, a poorly constructed condition report tells you nothing or even worse, gives you the wrong information which can leave you dissatisfied and potentially opening an arbitration case.
That’s why KAR Global as well as the industry views condition report quality and their transparency so paramount to not just our customers’ success, but our company’s. It’s why there’s so much investment across the industry to not just emulate, but far exceed the traditional in-lane, hand-on-the-hood tire kicking through a virtual format – and it’s my belief that we’re already there.
But where are the investments going? Where are the improvements occurring? These are the questions on a lot of people’s minds because the intricacies of the technology that goes into forming a digital condition report can make it feel quite difficult to comprehend. So, let’s look at some of the key areas where technology is enabling major improvements to how condition reports are generated.