Pollak announces new vAuto sourcing tool
![online auctin](https://www.autoremarketing.com/wp-content/uploads/2016/02/online-auctin_1.jpg)
vAuto, whose parent company is Cox Automotive, is coming out with a new wholesale sourcing tool.
The companies aim to launch the all-new Stockwave at the upcoming 2016 NADA Convention & Expo in Las Vegas. And the tool isn't just for stores who use vAuto — it is open to all dealers.
Dale Pollak, the founder of vAuto, discussed the news Monday on his Velocity Overdrive blog, noting, “I’m very excited about Stockwave’s potential to solve the persistent challenges of acquiring wholesale inventory from auctions, and make the entire process far more efficient and simple for every dealer.”
According to the tool’s promo video, featured above, vAuto has this to say about their new tool: “We’re talking about a sourcing solution so simple, you’ll only have to do one thing — just turn it on.”
This is a phrase that pops up throughout the video as well as the online brochure, pointing perhaps to the simplicity and ease-of-use of the new tool.
According to the video, wholesale inventory will be coming to users in a constant stream from all over the country, “no matter the auction, no matter the seller.”
Also interesting to note, the video points out, too, that the “steam is smart,” and “gets smarter” as it gets to know you and your market, based most likely on your data input, profile and usage.
It will also be interesting to see how the new tool cuts down on research time for wholesale buyers, as the video and brochure state: “Imagine no more researching. Vehicles that perfectly match you and your market are yours — before you know you need them”
According to the brochure, Stockwave includes the following functions:
- Get specific stocking level recommendations based on sales velocity and target days’ supply.
- Know what to pay, based on exit strategy, profit goals, factoring in recon, transportation and other costs. Stockwave automatically displays the specific profit potential and bid maximum for each vehicle.
- Aggregated listings from multiple auction houses across the country in one constant steam, ranked by their profit potential.
The tool also offers two add-on packs, called GeniusSync, which helps give dealers direct access to Stockwave research and valuation data, and MarketSync, which provides real-time stocking levels and retail market information.
Pollak shared the industry can expect to see more ads for Stockwave in industry publications and online, as well as hearing more about the product from the teams at vAuto and Cox Auto.
In his blog post, Pollak picked out two points he says makes Stockwave a “unique solution”:
- First, Stockwave represents the first large-scale example of Cox Automotive’s mission to use our expertise and resources to provide integrated innovation that helps dealers increase efficiencies and profitability. Simply put, Stockwave wouldn’t have been possible without an unprecedented degree of collaboration and cooperation between Manheim, vAuto and other Cox Automotive brands.
- Second, Stockwave also fulfills Cox Automotive’s vision to develop agnostic and open solutions that, first and foremost, serve the interests of dealers. As such, Stockwave isn’t just about Manheim; rather, Stockwave brings together vehicles from Adesa, SmartAuction and other leading auctions to create what we’re calling ‘surprisingly simple sourcing.
Stay tuned to Auto Remarketing as we learn more about this new sourcing tool about to hit the market. In the meantime, for more information, see the promotional video above, and check out the new tool at www.stockwave.com.