ACV is making its trusted 20-minute digital auction even more powerful by introducing these solutions that allow dealers to set-up proxy bids via an AI-powered buying agent to make data-driven decisions. These proxies will bid on and buy cars within the
Dealers can use S.A.M. to build highly customized rules that will not only identify vehicle specifications and price ranges, but could, for example, also include preferences for vehicle condition based on ACV’s leading inspection reports. ACV continues to reduce friction for dealers’ buying decisions with this new programmatic buying experience.
What sets S.A.M. apart is the ability to customize vehicle condition preferences down to granular details, including or excluding condition report details such as warning lights, tire condition, frame damage and title statuses. S.A.M. serves as a dealer’s own virtual buying assistant that is working for them 24/7. With a minimal weekly time investment to keep their buying preferences up to date, dealers can rest easy knowing that they will never miss out on securing core inventory for their dealership.
“Since our inception, ACV’s mission has been to bring trust, transparency and efficiency to the car buying process,” said ACV CEO
Two Key Programmatic Buying Options:
S.A.M. – For dealers who do not have their own technology platforms, they can use our user experience to create a highly detailed S.A.M. Model including specifying condition, pricing, and location parameters. Upon completion, their inventory needs are then launched automatically. dealers can choose to engage in one of two formats. They can select S.A.M. Alerts where they receive an automated notification from the system for approval of the bid. Alternatively, dealers can select S.A.M. Bids for automatic proxy bidding, based on their preset S.A.M. Model.
“I’ve always said that the
Chamoun continues, “S.A.M. is part of ACV’s holistic strategy where data intelligence is leveraged throughout the automotive ecosystem. The initial use case for S.A.M. was buying on the current 20-minute auction within the
There are no additional fees to use either of the programmatic buying solutions, only ACV’s standard fees related to approved sales transactions. For more information on ACV, visit acvauctions.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements concerning ACV’s plans to allow for the selection of S.A.M. outside of ACV’s live digital auctions. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions. You should not rely on forward-looking statements as predictions of future events.
The forward-looking statements contained in this press release are based on ACV’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties and changes in circumstances that may cause ACV’s actual implementation or achievements to differ materially from those expressed or implied in any forward-looking statement. These risks and uncertainties are more fully described in our filings with the
About ACV
ACV is on a mission to transform the automotive industry by building the most trusted and efficient digital marketplace and data solutions for sourcing, selling and managing used vehicles with transparency and comprehensive insights that were once unimaginable.
ACV’s network of brands include
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Media Contact:
maura@acvauctions.com
Source: ACV
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