ACV facts & figures
BUFFALO, NY – ACV Auctions today announced continued growth into new territories including Northeast Ohio, Washington DC and Eastern Massachusetts. It ended 2016 entering upstate New York, including Buffalo, Rochester, Syracuse, Binghamton and Albany as well as Western Massachusetts, Pittsburgh and Northern New Jersey. Franchise dealers within these markets now use ACV Auctions’ end-to-end service to sell wholesale inventory.
ACV Auctions will be demonstrating its app and service to franchise dealers at the upcoming National Automobile Dealers Association (NADA) Conference & Expo. At a reception on Friday, January 27, at Booth 5615, Hall H, from 12:00pm to 5:00pm, senior representatives from ACV Auctions will be on-hand to answer questions about the app and to show examples of condition reports. The reception is co-sponsored by SpinCar. Refreshments will be served.
During NADA, the ACV Auctions will also be introducing its new incentive program aimed at multi-site dealerships who are well-positioned to be the first within their respective markets to use the ACV Auctions app to buy and sell wholesales vehicles. In addition, the ACV Auctions team will be working to identify potential Territory Managers for future markets.
“We ended 2016 strong with each of our markets growing faster than predicted,” said George Chamoun, CEO, ACV Auctions. “The increased use of our service and the demand in new markets strongly demonstrates that franchise dealers are truly embracing the ACV Auctions solution for wholesale.”
ACV Auctions is an advanced mobile platform that enables used-car dealers to view, bid and purchase car inventory via online auctions. These live auctions are conducted from franchise dealer lots and last just 20 minutes – this saves dealers time and money. Traditional car auctions, in comparison, take place off-site in a physical location with multiple bidding lanes in progress simultaneously; this makes it difficult to provide transparency on wholesale vehicles.
“We remain focused on moving into markets that are accessible by our current customer base and that offer the vehicles franchise dealers want to buy,” said Mike Waterman, Vice President of Business Development, ACV Auctions. “Our growth strategy is also aligned with our commitment to providing local support with condition reports and working with the best franchise dealers in the country.”
About ACV Auctions
Our mission is to become the most trusted source in the industry for dealers to sell and buy wholesale vehicles. Our product — the ACV app — leverages mobile to maximum benefit, enabling users to take a vehicle condition report and instantly alert buyers that a 20-minute auction has begun. Simply stated, our technology modernizes the entire arc of auction operations, including account management, title management, floor plan purchasing, arbitration, and facilitating logistics. To learn more, please visit us at www.acvauctions.com
Jan 26, 2023