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Cox Automotive Launches vAuto ProfitTime GPS With The Industry’s First Multichannel Inventory Sourcing System

Global Acquisition addresses critical need for dealers to go beyond auctions and trade-ins for inventory

Cox Automotive, an innovative provider of vAuto inventory management technology, tools and business intelligence, announced its latest innovation, vAuto ProfitTime’s Global Acquisition, the industry’s first multichannel acquisition system to help dealers optimize their inventory sourcing from non-traditional channels.

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“Acquiring inventory is the No. 1 challenge facing dealers today, and will be for some time to come,” says Dale Pollak, vAuto founder and Cox Automotive executive vice president. “High wholesale costs and limited supply have forced dealers to adopt ‘buy anywhere’ sourcing strategies that go beyond auctions and trade-in channels to acquire inventory. The problem is that this pivot puts dealership appraisers and buyers in unfamiliar territory. They must now acquire cars across a wider number of sourcing channels, where opportunities and risks are different, at a time when the market won’t forgive buying the wrong car or paying too much.”

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vAuto ProfitTime’s Global Acquisition system, part of the all-new vAuto ProfitTime GPS (Global Profitability Solution), helps dealers solve this problem by enabling them to create an investment value-based acquisition strategy that guides appraisers and buyers as they acquire inventory in distinct channels (e.g., auctions, trade-ins, Kelley Blue Book Instant Cash Offer, dealer-to-dealer networks, off-lease, off-the-street and service lanes). The Global Acquisition system was developed by Cox Automotive’s data science team and uses vAuto ProfitTime’s data-driven insights about each vehicle’s investment value to recommend an acquisition price and retail asking price at the point of appraisal. Global Acquisition helps dealers improve how they acquire vehicles profitably across multiple channels in three ways:

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Strategize: Global Acquisition enables dealers to set an inventory acquisition investment strategy that accounts for the specific risks and opportunities in each sourcing channel. The strategy helps dealers consistently account for how much they need a vehicle and how much the market likes the car as they evaluate and acquire vehicles from individual channels to achieve optimal profitability.

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[To share your insights with us, please write to sghosh@martechseries.com]

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