The early April announcement that TradeRev had added over 120 Canadian dealerships to its network will likely result in the addition of tens of thousands of vehicles to the TradeRev Dealer Network.
The series of exclusive relationships with the likes of The Dilawri Group of Companies, AWIN Group, The Humberview Group, OpenRoad Automotive Group, Weins Canada Inc. and The MIERINS Automotive Group made ADESA the exclusive physical auction partner and TradeRev’s mobile app the exclusive online remarketing tool for these large, geographically diverse stores. (ADESA owns a 50 per cent stake in TradeRev.)
The groups represent more than 100 dealerships across Canada.
“We’re tremendously proud to have earned the trust and confidence of some of Canada’s largest, most successful and most technologically sophisticated dealer groups,” said Mark Endras, TradeRev CEO and co-founder.
TradeRev offers live, real-time bidding auctions in the palm of dealers’ hands through a mobile app.
“With the added volume of vehicles from these agreements, dealers will have increased access to a broader range of used vehicles that fit their unique dealer profile and business model,” the company added.
“The ADESA-TradeRev partnership and KAR’s diverse platform of capabilities will provide these progressive dealer groups with a true end-to-end remarketing option,” added Endras.
“This huge value-add is not something that’s typically available at the dealer level.”
The partnership announcement came on the heels of TradeRev’s new feature, Upcoming. The function allows buyers to research vehicles they’re interested in 24-hours before the auction goes live and set proxy bids.
Upcoming also benefits sellers by promoting and attracting more views of the vehicle before the auction launches leading to more bids.
“The full benefits of Upcoming are available to TradeRev Pro users with Standard users still being able to view the trades in Upcoming before the auction goes live,” the company explained.
This new feature allows dealers to “set it and forget it.”
The seller cannot see buyer’s proxy bids. The vehicle history for the trade is ordered once the trade is loaded into Upcoming.
The trade can be edited in Upcoming without incurring a fee. The system also lets buyers set and edit proxy bids on Upcoming trades. It will also notify them when the trade launches into Active.
TradeRev said proxies would be removed if the seller edits the trade in Upcoming and the buyer will be notified. Buyers will also be informed once a trade is launched into Active if their proxy was outbid or if they are the top bid.
Seller information will be hidden in Upcoming stage with only location, rating and distance displayed.