J.D. Power acquires SIA online auction platform to dive deeper into remarketing

J.D. Power is going deeper into the automotive remarketing business.
The global data and research firm has acquired Superior Integrated Auctions, which the companies said combines SIA’s online auction marketplace capabilities with J.D. Power’s inventory, vehicle valuation data, predictive analytics and digital marketing systems to streamline pre-owned vehicle inventory management.
The companies have been collaborating since October, when they partnered to launch the J.D. Power Marketplace, an electronic auction platform J.D. Power said gives dealers access to more than 30,000 vehicles.
The platform is designed to allow manufacturers, dealers, finance companies, car rental companies and other industry stakeholders to create white-label online auctions and sales tools.
“Inventory of high quality, front-line-ready, pre-owned vehicles is trending toward the lowest level in a decade, which is putting pressure on dealers to find vehicles when and where they need them without incurring huge upfront costs,” said Phillip Battista, J.D. Power’s president of dealership technologies and head of modern retailing.
“By adding SIA’s industry-leading auction platform to our existing J.D. Power Marketplace capabilities, we’re giving manufacturers, dealers and other key players the ability to take control of their inventory management process, bypassing expensive auction fees and cumbersome vehicle acquisition processes along the way.”
In addition to its online vehicle sales, auction and inventory capabilities, the J.D. Power Marketplace includes J.D. Power’s vehicle valuation data, which the company said gives users up-to-the-minute information on average retail transaction value, high and low auction values and trending prices.
The platform also uses J.D. Power ChromeData software and technology, designed to provide build data containing options and features of each vehicle based on its individual VIN and allow users to create digital marketing materials.
J.D. Power said SIA’s senior leadership and employees will become part of the J.D. Power Marketplace team under the leadership of SIA chief operating officer Jeremie Beckner, who has been named senior vice president of J.D. Power Marketplace, reporting to Battista.
“By combining our strengths in digital sales and all aspects of vehicle data, we’re creating the ultimate one-stop shop for pre-owned inventory management,” Beckner said. “It’s an opportunity to keep working on an initiative that can address some serious pain points in the automobile industry.”