ADESA Launches ‘% to Retail’ Feature

By Staff Writer June 02, 2021

ADESA has unveiled its proprietary “% to Retail” function. All 24/7 bid/buy vehicle listings on ADESA’s digital marketplace now show the current bid of the vehicle compared to the estimated national used retail market price. The “% to Retail” is powered by autoniq, a sister company to ADESA and a leading source for app-based vehicle pricing and evaluation information. The new feature is aimed at helping dealers quickly analyze vehicle pricing and make better informed decisions on the best inventory for their lot.

“Our customers are experiencing unusual market dynamics across North America, so having instant access to real-time intelligence on vehicle valuation has never been more helpful and important,” said John Hammer, chief commercial officer of KAR Global and president of ADESA. “With the ‘% to Retail’ feature, we’re making it easier and faster for dealers to identify vehicles priced right for their wholesale-to-retail strategy.”

The “% to Retail” function uses KAR’s proprietary data science capabilities to evaluate data from across ADESA and KAR’s other digital marketplaces along with the latest industry, market and economic data to accurately estimate potential vehicle profitability. Buyers can filter their searches on ADESA by “% to Retail” range to focus their bidding and buying on vehicles within a particular range—and each listing will tell the dealer the estimated margin between the wholesale price/bid and the estimated retail sale.

“Dealers who piloted the ‘% to Retail’ functionality consistently found it easy to use and beneficial for finding the best, most competitively priced vehicles,” said Rick Griskie, president of digital marketplaces at KAR Global. “This new feature allows our dealers to find the exact inventory that supports their overall retail strategy, and we’ve already seen early success with our dealers using the tool showing a 20% higher success rate in finding vehicles to purchase compared to those who did not use the tool.”

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Last modified on Monday, 07 June 2021 12:56