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Jared Hamilton
From: Jared Hamilton
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Jim Bell

Jim Bell National Sales Executive

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Dale Pollak Hits with a Tsunami-A Review of Provision

Dale Pollak has made a lot of ripples in the automotive industry over the last few years with vAuto.  He just announced today Provision (the new stocking feature with vAuto) is going to cause not just a ripple, but a tsunami in stocking your inventory to perform at the dealership’s maximum potential.  Last year, vAuto was acquired by Autotrader, which no one really knew why.  Well, today, we know.  He is taking the stocking feature of vAuto to the next level which no one can touch with using data from Autotrader.

I was fortunate to see Provision at a 20 group meeting 2 months ago just to get a taste of what was to come.  After the meeting, we contacted Dale to see if there was a way to get on the Beta version of the new stocking tool which he with some hesitation and parameters set forth, he said yes.  We have been able to play in the Beta version for about the last month or so and I will say that it is going to take stocking to the next level for used car inventories.

The biggest change in the stocking tool is the stocking grade.  The stocking grade is a report card based on several factors that the developers at vAuto thought was important.  It is based on:

  1. Demand: the number of people in your area that are searching for this car (taken from Autotrader).
  2. Interest:  the average conversion rate from SRP to VDP for this vehicle in your area (taken from Autotrader).
  3. Volume: the number of units sold in your area recently.
  4. Day Supply:  measures the current available supply of similarly configured vehicles and the rate at which such vehicles have been sold over the last 45 days.
  5. Profitability: difference between the average auction prices of this car to the average list price of the car after adding in a fixed reconditioning/transportation fee.
  6. Availability: the number of units available in auctions now.
  7. Experience: measures of the success of your recent sales of this Make/Model.

 

vAuto will also recommend which vehicles that you should look at buying for your inventory.  It will give you 10 different models in the different categories that you need to focus on based on how you want to have your inventory set up.  It will also let you know where those vehicles are going to be on the auction block.  You have the opportunity to look at the condition reports, condition grade, and place a proxy bid all within vAuto.

Another part of the new sourcing tool is that you can see within the auctions how many cars are running on the recommendations and how many matching vehicles will be running at those auctions.  This will particularly come in handy when planning your auction schedules and whether or not it’s worth going or not.  If you have a good amount of matching recommendations and vehicles running, then go or set up your proxy bids.  If those numbers are low, it maybe not worth the time going to those auctions.

This is just the tip of the iceberg of what Dale has up his sleeve with the new stocking tool.  There will be more to come which I will leave to vAuto to announce when it comes.  For current vAuto dealers subscribing to the stocking tool, the cost is a low cost of $0/month!  Dale’s thinking on this is that he wants to have the premier product out there without gouging dealers.  It is all part of product enhancements to stay ahead of his competitors.

For dealers that are already on vAuto, there will be training webinars for the next 60 days starting Monday, November 14.  Training will be at 8 Central time on Monday, Wednesday, and Friday, and 4 Central time on Wednesdays and Fridays.  Contact your Performance Manager to get the details or you can click here to schedule your online training webinar. 

 

Jared Hamilton
Wow. Dale never ceases to amaze me. What is so cool is he not only has created such amazing tools for dealers and totally shaped a market, but he is such an approachable genuine guy willing to help. I have had many one on one conversations with him where he has helped mentor me as as an entrepreneur; his business mind is one of the best in the industry an his character is bulletproof. This new product is just more proof of that. Well done dale & team!! Congrats on you huge succes, Im excited to see how provision will help the industry.
Chris Costner
Wow, vAuto is always looking to make another hit and this looks to be it. Excited to see it in action. Thanks for sharing Jim!
Bryan Armstrong
My favorite comment from the webinar was his response to the question about transactional data. This tool now tells you WHAT to buy, WHERE to buy it and HOW to market in order to attract the most customers. What you sell it for is an entirely different discussion. Another great tool from Vauto. Well done.
Ed Brooks
If you weren't able to attend Dale's webinar, it was recorded: here is a link http://bit.ly/s8oa4m
Martin Logsdon
Completely dialed-in process and a cannot miss ROI.

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