From the Wires
vAuto Expands Brand, Launches Product Line To Serve More Dealers
By: Business Wire
Nov. 27, 2012 09:42 AM
vAuto announces a company branding initiative that includes the renaming of its existing used vehicle inventory management product suite and the launch of a new product line.
“Since our inception, vAuto has been viewed as a provider of premium inventory management solutions that primarily serve franchise dealers,” says Dale Pollak, vAuto founder. “Our recent acquisition of AuctionGenius brings a new opportunity to expand our product offerings and serve the broader market of independent and franchise dealers.”
The branding initiative has two key components:
1. The Provision Suite: vAuto will rebrand its current Live Market Suite of inventory management tools to the Provision Suite. “vAuto’s Provision Suite will continue to offer premier, industry-leading solutions that advance the Velocity Method of Management™ and help dealers manage every aspect of a used vehicle’s lifecycle from an investment perspective,” Pollak says.
2. Genius Labs Product Line: vAuto’s new Genius Labs product line flows from the company’s recent AuctionGenius acquisition. “AuctionGenius has shown us the value of affordable, stand-alone and task-specific solutions that address common, everyday challenges for dealers,” Pollak says. “Every dealer needs to buy cars from auction, and AuctionGenius helps dealers evaluate and purchase auction vehicles more efficiently and with less risk than they could before.”
AuctionGenius, which is the first product in the Genius Labs line, has also helped vAuto define the three characteristics that will guide development of future Genius Labs products:
Smart: Each Genius Labs product will be designed to solve a specific challenge in used vehicles—from acquiring cars to closing deals with customers. The tools will also incorporate vAuto technology and real-time market data to ensure intelligent, robust solutions.
Simple: Genius Labs products are built with dealer-inspired decision-making and workflows to make them intuitive and easy to use. “A mantra for our Genius Labs line is ‘sophistication through simplicity’ that will appeal to every dealer,” says Todd Kinzle, co-founder of AuctionGenius and director of operations for Genius Labs.
Stand-alone: All Genius Labs products will function like AuctionGenius—a system-agnostic, stand-alone solution that dealers can customize to fit their individual needs. “There will be no requirement for dealers to purchase a Genius Labs product in conjunction with another vAuto solution or service,” Kinzle says. “Each Genius Lab product will stand on its own and complement the used vehicle solutions a dealer already has in place.”
vAuto plans to announce additional Genius Labs innovations in advance of the National Automobile Dealers Association conference in February 2013.
“We are excited about the potential for the Provision Suite and Genius Labs line to help a broader segment of dealers become more successful in their used vehicle departments,” Pollak says.
vAuto provides innovative technology, tools and business intelligence to help dealers improve their used vehicle department sales and profits. vAuto’s Provision Suite offers premium products that guide used vehicle acquisition, appraisals, pricing, merchandising and transparent sales processes for dealers based on real-time supply-and-demand data in their markets. vAuto’s Genius Lab provides smart, simple and stand-alone solutions that address everyday used vehicle management challenges. Today, thousands of dealerships across the United States and Canada rely on vAuto’s industry-leading solutions. vAuto’s visionary founder Dale Pollak has just released Velocity Overdrive: The Road to Reinvention. The book is the third in his best-selling Velocity series, which guides dealers to greater success through the Velocity Method of Management™. Headquartered in the Chicago suburb of Oak Brook, IL, vAuto maintains a research and development center in Austin, TX, and field office in Longmont, CO. vAuto is a wholly owned subsidiary of AutoTrader Group. Additional information about vAuto is available at www.vauto.com.
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