In less than 30 days, more than 1,000 franchise and independent dealers have signed up for Stockwave, an innovative tool that makes finding and purchasing wholesale vehicles easier and more efficient for dealers.
“In all my years in the car business, I’ve never seen a product or solution take off with as much interest and momentum from dealers as Stockwave,” said Dale Pollak, vAuto® founder. “The early response from dealers is unprecedented for Cox Automotive™ and, I believe, for our industry overall.”
Pollak credits the strong dealer interest in Stockwave to two factors:
- Current wholesale inefficiencies. Dealers currently spend hours to locate vehicles of interest at auctions, and even more time researching condition reports and valuations to determine if a vehicle fits their purchase criteria and how much they should pay. Stockwave does all this automatically, showing available cars that fit a dealer’s inventory, profit and purchase preferences. “When dealers experience Stockwave, they immediately see the time savings,” Pollak said.
- Stockwave’s buyer emphasis. Stockwave allows dealers to tailor vehicle recommendations to suit their individual inventory, profit and retailing objectives. Stockwave is also auction-neutral, recommending vehicles from ADESA, Manheim and leading independent auctions. “We built Stockwave to serve the best interests of any dealer, whether they use vAuto or not,” Pollak said.
How Stockwave works: Through deep integrations with leading auctions and Cox Automotive technology, Stockwave automatically streams wholesale vehicles that match a dealer’s used vehicle investment strategy, target profit, age, condition, equipment and other preferences. Stockwave also combines retail and wholesale valuation data with dealer-set cost estimates and profit objectives to provide auction bid guidance on every vehicle.
“Stockwave represents Cox Automotive at its best,” said Randy Kobat, senior vice president for vAuto. “This innovation required continuous collaboration and cooperation across Cox Automotive brands, from the earliest days of Stockwave’s development to its official launch at the National Automobile Dealers Association convention this year. Ultimately, Stockwave’s success testifies to the way Cox Automotive can help dealers work better when we work together.”