CARMEL, Ind. – autoniq®, a business unit of global technology solutions provider and a leading operator of digital marketplaces for wholesale used vehicles KAR Auction Services Inc. d/b/a KAR Global (NYSE: KAR), announces the autoniq Wholesale Index™. The new product provides direct access to auction data on vehicles sold at auction—both online and at physical locations.
The data is available by subscription on the autoniq app and showcases information on similar year, make, and model vehicles sold at auction; users can toggle the data from as close as 50 miles to as far as 3,000 miles from their dealership. Data is comprised of ADESA sales data for the last 90 days.
“With extreme volatility in the used car market today, dealers need new vehicle valuation data more than ever to preserve and optimize their margins,” said Rick Griskie, president of digital marketplaces at KAR Global. “The autoniq Wholesale Index provides real transaction data from the dealer’s local market, allowing them to make informed, data-backed bidding and buying decisions.”
The autoniq Wholesale Index was developed based off feedback from dealers seeking more comprehensive live market data. With the new digital tool, dealers can see a quick summary showcasing the average local wholesale transaction price and average mileage of a specific vehicle’s make, model, year and trim. The autoniq Wholesale Index detail view is updated frequently to ensure customers have the right data at the right time.
“Dealers want to know what’s happening in their local marketplace—they’re looking for access to actual transaction data,” said Joe Oliveri, vice president of product management and data services at KAR Global. “This powerful new tool gives our dealers a competitive edge so they can quickly and conveniently budget, bid, price and ultimately maximize returns.”
Existing users can add autoniq Wholesale Index to their account by contacting [email protected] New users can sign up at autoniq.com/signup or by calling (866) 482-8421.
autoniq powers the leading source for vehicle pricing and evaluation information, giving automotive dealers the confidence they need to make buying decisions for their business—all in one application. Dealers can scan VINs with a fast and accurate VIN scanner, browse available auction inventory for nearly 400 auctions and search for vehicles from mobile or desktop.
Originally posted on F&I and Showroom