HGreg Automotive Group Adopts ACV leading Digital Solutions to Reinvent Consumer Vehicle Sourcing

ACV’s Drivably and Monk solutions enable dealers to transform their consumer sourcing experience with highly differentiated digital solutions powered by machine learning and data

HGreg, one of the fastest growing automotive groups in North America, announced recent investments in digital solutions to accelerate its consumer sourcing strategy via the Drivably trade-in and lead nurture website solution, and to improve internal operations through its adoption of Monk computer vision technology. Following a successful Drivably pilot program at its Kendall Nissan store, HGreg deployed Drivably at all of their U.S. franchise stores. HGreg further enhanced its digital capabilities by leveraging ACV’s (Nasdaq: ACVA) industry leading Monk AI-powered computer vision technology for used vehicle condition evaluation and damage classification.

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HGreg is known for its commitment to redefining the car buying experience and has chosen digital solutions from ACV to power a seamless dealership experience for consumers. With Drivably and Monk solutions, ACV has built a comprehensive menu of digital offerings for dealers on the consumer acquisition front. Drivably provides HGreg with an easily integrated consumer buying experience that leverages a condition-adjusted machine learning model for vehicle evaluation. Through Drivably, HGreg can offer consumers the b********* for their vehicle, helping to secure the trade-ins, and gain new customers who use trade-ins to buy new vehicles. If dealers decide not to keep consumer trade-ins for frontline retail inventory, they can wholesale the trades leveraging ACV’s inspection services and wholesale digital marketplace.

“We are proud to be the first automotive group in North America to leverage this AI-powered damage detection when buying and selling used vehicles at our dealerships around the country,” said John Hairabedian, the president and CEO of HGreg. “HGreg was founded on a commitment to reinvent the vehicle buying journey by providing transparency. Monk’s cutting-edge imaging technology will ensure that our dealerships can offer consumers the most accurate vehicle condition reports possible as they navigate their car buying experience.”

HGreg’s digital adoption includes enhancing their internal processes, as well. With its integration of Monk, the group will leverage this new AI-powered technology to standardize and semi-automate the purchase and resale of used cars on their platform. Monk’s AI damage detection technology is now fully integrated into HGreg’s internal vehicle inspection operations, elevating the level of transparency of the condition report made available to its customers.

“We are honored to work with HGreg on delivering unprecedented levels of transparency to the automotive industry and a seamless vehicle appraisal experience to consumers looking to offload or trade in their cars,” said Aboubakr Laraki, vice president business & AI strategy. “As the Monk solution expands its global footprint into North America, our industry-leading machine learning vision technology will enable dealers to acquire vehicles more efficiently as well as provide new avenues for accessing that inventory.”

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HGreg elected to integrate with the Monk SDK (software development kit) and is the first dealer to launch Monk in North America to provide the guided photo capturing tool. The technology is based on computer vision algorithms running pixel-level polygonal analysis to detect all damages visible to the human eye. Because the photo capture is guided by the software, the resulting smartphone images are high-quality data assets that can generate objective vehicle condition reports and reliable real-time detection and classification of damages.

Later in 2022, Monk and Drivably will be integrated to become a turnkey solution for dealers to offer to their consumers. ACV will leverage Monk’s AI-driven imaging technology to enable consumers to do a self-inspection right from their own mobile device, which will further inform the price dealers can offer consumers.

By deploying the Monk solution, dealers striving for operational excellence can optimize the purchase and sale of used cars, using standardized pictures necessary for an unbiased assessment of vehicles’ conditions. Moreover, with Monk’s automation and machine learning technology, inspection time per vehicle can be significantly reduced, making more vehicle inspections possible, hence reducing costs. In addition, a detailed and standardized inspection report will be automatically generated, leading to a more transparent car buying experience for consumers. The latter enables HGreg and ACV dealer partners to build trust-based relationships with their clients and thus realize more car sales. The Monk AI automated damage detection solution is capable of being fully integrated into existing dealership operations to create a best in class vehicle condition reporting solution for dealerships looking to reduce friction for consumers’ buying process.

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