Everything you need to know about TradeRev’s expansion
Toronto-based automotive dealer vehicle appraisal and auctioning system TradeRev is expanding its U.S. operation, promising revolutionary vehicle dealing software across North America. Here's what you need to know about TradeRev and its growth.
What is TradeRev?
TradeRev is a widely-used platform based in Canada that allows dealers to launch live, one-hour auctions right from their lot; enables them to get accurate, real-time appraisal prices for trade-ins; and lets buyers purchase from a fresh stream of inventory from their phone.
The TradeRev app is available on iOS, Android and desktops and is a game changer in terms of convenience, accessibility and advantage in the retail and wholesale remarketing processes. It includes the ability to sell vehicles on demand and generate real-time, real-data pricing information.
Why the expansion?
After global vehicle remarketing company ADESA acquired a 50 percent share of TradeRev in August 2014, the company embarked on a strategic expansion into the United States last summer.
“We’ve been focused on building and growing our footprint in the southeastern United States for the past several months, and bringing (former Netsertive vice president) Tim O’Rourke on as regional director to take over this ongoing expansion was the next logical step,” said Mark Endras, president and co-founder of TradeRev.
“We also identified Chicago as a key place to share our game-changing technology next, as it is dense with car dealerships and partners and centrally located among several different Midwest automotive hubs.”
What's in it for automotive dealers?
According to TradeRev, existing and new customers can expect an even larger variety and number of inventory to bid on and a larger buyer base. SMS, mobile and email alerts mean buyers don't miss auctions and have access to fresh trades before they even reach traditional inventory channels.
Endras said TradeRev was backed by ADESA’s suite of back office services, as well as an innovative rating system that enables buyers and sellers to take part in real-time auctions with “confidence and transparency.”
“Buyers can purchase vehicles from anywhere in North America and arrange delivery through ADESA's integrated services right from the app,” he said. “By ensuring a seamless logistical and purchasing process, our customers have greatly expanded access to new opportunities that fit within their needs.”
Who’s spearheading the expansion?
TradeRev has brought two regional directors onboard to help drive its push into the U.S. — southeast regional director Tim O’Rourke and Midwest regional director Michael Niebling. They will be responsible for building and strengthening relationships with dealers and hiring in their respective targeted locations, as well as focusing on expanding the company's overall U.S. footprint.
“Tim and Michael bring years of knowledge and experience in effectively managing and growing companies in the automotive industry, and we are confident they will successfully lead our growth in these strategically selected markets,” said Endras.
Both are highly experienced, with O’Rourke most recently the vice president of automotive at Netsertive and previously regional sales manager for Auto Trader. Niebling has been regional sales manager for Dominion Enterprises, the vice president of CompuCredit and director of sales for HSBC Bank.
Check out the TradeRev website for more information.
