While digital auctions have become more widely used across the industry in recent years, they really aren’t all that new. Large commercial Sellers have been leveraging them and building their digital remarketing framework since the early 2000s. KAR Global has been a leader in this space for nearly two decades — building, acquiring, integrating and continuously evolving our digital remarketing technology platforms to create a massive online Buyer base.
While commercial Sellers were the first to recognize the advantages of offering and selling their inventory digitally, the dealer community — led by large, multi-rooftop dealers — soon followed suit. Then TradeRev made it possible for all dealers to sell from any location without moving vehicles off the lot, and with that, the majority of our dealers have been selling online in some capacity ever since.
Commercial Sellers and large dealerships have developed and implemented very distinct wholesale processes and systems that they’ve refined with each digital innovation. But they also don’t overcomplicate things. Their winning formula is actually quite straightforward when you examine it — start digital upstream from the dealer’s lot, and move downstream to physical auctions; we call this the Highway to Sell.
It seems like a simple strategy. So why have so many franchise or even independent dealers failed to replicate and take advantage of this same framework? A major reason is that many haven’t partnered with an end-to-end solution provider that can help keep the process fast, fair and easy — while maximizing wholesale returns.
Similar to the formula that high-volume commercial Sellers have been leveraging for years, KAR builds upon that best-in-class remarketing process to extend a full suite of ancillary services to all dealers under one roof. We call it the Highway to Sell, and this synergy provides the flexibility, convenience and reach of upstream marketplaces like TradeRev and ADESA Simulcast® matched with the robust inspection and reconditioning services our physical auctions provide — not to mention financing, analytics and everything else you need to have a successful wholesale operation. But it’s not one-size-fits-all. Whether your car sells on TradeRev or ADESA, from your lot or ours, we work with you to offer the best and most relevant services tailored to your unique situation, giving you the experience and returns you deserve.
By adopting the Highway to Sell approach, you’ll soon discover how efficient and profitable it is. As a starting point, most dealers simply don’t have room to store wholesale cars. They take up space for valuable retail cars or even space that a retail customer could park in. By starting upstream on TradeRev, dealers can sell trade-in vehicles the instant they land on their lot. And if the vehicle doesn’t sell, with an integrated partner like KAR, your vehicle can go from TradeRev to ADESA with just a few clicks. It will then be introduced to an entirely new marketplace every step of the way.
As the dealer-to-dealer space continues to evolve, we’ll keep innovating and continuing to integrate our suite of remarketing services to further enhance and streamline your experience, so you can work more efficiently while increasing your profit opportunity. Talk to your KAR Global Sales Executive today to help create a winning strategy tailored to your dealership.
The opinions expressed in the Go Digital series are the opinions of the authors only and not those of KAR Global.