OAK BROOK, Ill. -

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vAuto has incorporated the data tools of both AutoTrader.com and Manheim in rolling out a new used-car inventory management tool that can give dealers a more comprehensive way to find the right used cars to stock at the right price.

Provision — the company’s first major product introduction since being bought by AutoTrader last year — blends the resources of AutoTrader and Manheim to help dealers tackle  the three “W’s” of inventory management: What cars should I stock? What I should I pay? Where can I get the car?

“This is a business intelligence break-through for the automotive industry, made possible through our alliance with AutoTrader.com and Manheim,” stated

vAuto founder Dale Pollak. “Provision brings game-changing insights and tools to help dealers efficiently and effectively know what vehicles to stock, what to pay and where to find them—all with a real-time, precision approach.”

vAuto then delved into each of the three “W’s” in explaining how Provision is designed to work. 



What cars should I stock?

Provision sets its foundational parameters based on what a dealership has set as its targets for used inventory value, age, turn rates and gross profits. The tool then conducts a seven-point diagnostic test for all available used units, basing the test on supply and demand in the market.

“Demand” and “interest” are among the indices measured. These “distill real-time clickstream data from AutoTrader.com, an industry first,” officials noted.



“Dealers haven’t seen this data before, and Provision ensures it’s front and center for their vehicle sourcing and decision-making process,” Pollack stated.
Then, the tool sorts the data and recommends units for the store, and it can break it down as far as equipment and trim. Vehicles are given letter grades from “A” to “F.”

What should I pay?

To help a dealer figure out a good price in the wholesale market for the units they want to acquire, Provision offers its recommendations based on the following, as listed by vAuto:



A) Where the vehicle needs to be priced to assure the maximum and most immediate Internet response; B) Reconditioning/other expenses needed to retail the unit; C) A dealer’s gross profit goal. 



Additionally, dealers can adjust Provision based on their own preferences. This answers such “what if” scenarios as the following: “If I pay $X for a vehicle, what retail price should I ask to make $Y in gross and sell in Z number of days.”



“Some dealers call this ‘dialing for dollars,’ and I heartily agree,” Pollak noted.



Where can I get the car?



Provision is linked up with what vAuto called the “top auction outlets.” Dealers can drill down to find run lists and lanes for their desired units, and can also create automated proxy bids. Additionally, they can tap into the “click-to-purchase” functionality, which lets them buy units outright.



Eventually, automatic transport scheduling with vendors will be offered, as well.

“Provision goes a long way to eliminating the ongoing pain of used vehicle sourcing and management challenges at dealerships,” Pollak says. “We’ve built a bridge between the top retail (AutoTrader.com) and wholesale marketplaces and made it easy to cross.”

AutoTrader.com chief executive officer Chip Perry added: “When we acquired vAuto just over a year ago, it was with the promise that we’d leverage the strengths of AutoTrader.com and its family of companies to benefit dealers.

“

Provision brings AutoTrader.com, Manheim and vAuto to the same table,” Perry added. “It’s a partial fulfillment of our initial promise. I say ‘partial’ because there is more innovation and dealer benefits to come.”



Manheim president Sandy Schwartz chimed in, noting: “We’re excited to further our commitment to dealers and other wholesale customers through Manheim’s collaboration with vAuto and AutoTrader.com on the Provision engine.

“

It’s a perfect blend of our people and respective market intelligence, technologies and resources to create a win-win for everyone,” Schwartz says. “Provision will be a transformative force for the industry."

A two-minute video sharing more about Provisions is available at www.vauto.com/provision.