KAR Auction Services (NYSE:KAR)
Historical Stock Chart
6 Months : From Apr 2019 to Oct 2019
CARMEL, Ind., July 10, 2019 /PRNewswire/ -- TradeRev, a digital platform that facilitates live, dealer-to-dealer vehicle auctions, has integrated two new in-app features, Buy Now and Third Party Inspected, and launched key performance and usability enhancements. TradeRev, a business unit of global remarketing and technology solutions provider KAR Auction Services Inc. (NYSE: KAR), activated the enhancements to enable greater access to trades, increase buyer confidence and improve the dealer experience end-to-end.
"With a customer-first mindset, we're constantly innovating and updating TradeRev's features to ensure we're giving dealers the best possible tool to reach their business goals," said Becca Polak, TradeRev president. "Buy Now opens a second-chance marketplace for buyers and sellers, while Third Party Inspected gives dealers another layer of trust, so they can buy with confidence."
Buy Now offers dealers a second, 24-hour opportunity to buy or sell a vehicle if it wasn't sold in an active auction. Dealers using the Buy Now feature can purchase the vehicle with a floor price instantly or make an offer on the vehicle. Buy Now allows dealers to sell their inventory without having to launch a new auction and gives buyers the opportunity to purchase a vehicle they missed the first time.
The Third Party Inspected badge is a visual indicator that appears next to a trade listing and indicates the vehicle was inspected by a qualified TradeRev inspector. This differentiator allows buyers to quickly spot inspected trades and helps assure them of a consistent, thorough condition report. The Third Party Inspected badge helps provide dealers with greater confidence in the listing's accuracy.
Additionally, TradeRev further enhanced its custom filters and notifications, creating an improved user experience. Now users can pinpoint their target vehicles more easily and have access to more notification options, so they never miss a trade.
The new features follow the full integration of TradeRev's H-Vision℠ for all users. H-Vision℠ is an AI-driven image capture feature that fully automates condition report visualization.
Gene Rodriguez Miller
About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR's unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of nearly 3.5 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in more than 70 countries. Headquartered in Carmel, Ind., KAR has approximately 15,000 employees across the United States, Canada, Mexico and Europe. For more information, go to www.karauctionservices.com. For the latest KAR news, follow us on Twitter @KARspeaks.
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SOURCE KAR Auction Services Inc.