vAuto marked a major milestone by launching a new inventory platform, Stockwave, a tool for dealers to find and purchase vehicles with the ease of pushing a button.
Having amassed more than 1,000 franchise and independent dealers in only 30 days, vAuto is now working to expand its network of dealers to include smaller, independent auctions into its network.
“We’re hooked up with all of the leading independent auctions. Although we’re currently working to bring some of the smaller independent auctions on board to expand the net,” a spokesman for vAuto toldAFN. “I can say that if you’re buying cars in any state hosting these auctions events, Stockwave is live and ready to work for you.”
Stockwave works by leveraging integration with leading auctions like Manheim, SmartLease, ADESA, and others. The platform provides dealer’s with aggregated listings from multiple auction houses across the country come, “in one constant stream, ranked by profit potential,” according to the company’s website.
“Dale Pollak, who hatched the idea — and founded vAuto — took it to market and spent two years on the road meeting with dealers to sell the software,” the spokesman said. “It took four years for vAuto to reach 1,000 customers, and Stockwave managed to accomplish the same feat in thirty days.”
The spokesman added that Stockwave is not a service for finance or floorplanning. However, it does address the potential profit based on the dealer’s preferences and the status of the current market environment.
Based in Oakbrook Terrace, Ill., vAuto specializes in management software, while Stockwave handles the auctioning and acquiring of vehicles. vAuto’s parent company Cox Automotive is a digital marketing company based in Atlanta. This development comes after Cox’s recent acquisition of Dealertrack, a leading provider of on demand F&I software for the auto industry. The buy was made in cash, at $4 billion.
