In the automotive industry, selling upstream means getting your vehicles on the market at the earliest stage of their remarketing lifecycle. It allows you to sell vehicles faster and get in front of more buyers.
Because of KAR Global’s size and ancillary services, we’re in a unique position to offer our dealers some incredible upstream selling options. It’s why we created the Highway to Sell, our pipeline for dealers to start upstream digitally with TradeRev, move down to ADESA Simulcast® and ultimately ADESA DealerBlock®.
While the entire Highway to Sell will give you access to over 150,000 buyers across the KAR Global network, why should you start your selling journey digitally upstream? Here are a few reasons that will have you working your way up the digital stream in no time.
Higher profit margins
When it comes to sales, profit is key, and the further upstream you start, the more opportunity you have to maximize your profit. When you start your selling journey on a platform like TradeRev, there are no transport or inspections costs associated with it.
That’s because your car can stay on your lot and our team will inspect and launch it. You’ll then have the eyes of an entire nation of dealers on your car. More eyes equal more bids, which leads to . . . you guessed it, more money.
Time is money, and with the seamless experience digital provides, you’ll get the results you want with less effort. Again, without getting bogged down by transportation or even traveling to a location to ensure your vehicles sell, you’re able to focus on other aspects of your business.
Additionally, when you start upstream, you lay the groundwork upfront and only once. With an integrated partner like KAR Global, your vehicle can go from TradeRev to ADESA with just a few clicks, moving downstream without you even breaking a sweat. This seamless transaction makes your life easy while introducing your vehicle to new buyer bases every step of the way.
With an upstream platform like TradeRev, you control everything, and, in a way, you create your own auction. Think about it: It’s non-sequential and runs online 24/7. That means you decide when the cars are listed and on what days. You create your own auction location, but instead of having a local buyer base, yours is coast-to-coast.
Pretty soon you’ll even be able to build your digital brand with Buyers. Just like on the retail side of the business, build a rapport with your wholesale Buyers and they’ll keep coming back. With more repeat customers, you’ll see more action on your auctions, which will drive up the bids on your vehicles.
A real-time pulse on the market
Ever had a customer come in and say their car is worth way more than what you’re telling them? If you haven’t, you must be new to the business. More often than not, breaking out the pricing guides doesn’t sway their opinion, but launching their vehicle into a live auction? That’ll get their attention.
That’s one of the beautiful things about a digital auction like TradeRev. If you want to gauge the value of the vehicle, simply kick off a 45-minute auction while you’re working the deal. It’s real-time pricing, giving real market value. It allows you and your customer to have a transparent conversation around the value of their trade—it’s simple, fast, and delivers a great customer experience.
It doesn’t matter whether the vehicle is destined for your lot or if it’s marked for immediate digital sale because the vehicle was acquired for the exact market value. And if the customer decides not to sell, then you’ve simply used the platform as an appraisal tool.
The opinions expressed in the Go Digital series are the opinions of the authors only and not those of KAR Global.