J.D. Power in Troy, a leading data analytics supplier, today announced the acquisition of Superior Integrated Auctions (SIA) in Columbus, Ohio. Terms of the deal were not disclosed.
The acquisition brings together SIA’s advanced online auction marketplace capabilities with J.D. Power’s inventory, vehicle valuation data, predictive analytics, and digital marketing solutions to streamline pre-owned vehicle inventory management.
The new functionality will expand the J.D. Power Marketplace, an electronic platform designed to revolutionize how dealers acquire pre-owned inventory by bringing the traditional auction process online, giving dealers access to more than 30,000 front-line ready vehicles.
The platform also allows manufacturers, dealers, automobile finance companies, car rental companies, and other industry stakeholders to create white-label online auctions and sales tools, thereby expanding access to thousands of front-line-ready vehicles available through J.D. Power.
“Inventory of high quality, front-line-ready, pre-owned vehicles is trending toward the lowest level in a decade, which is putting pressure on dealers to find vehicles when and where they need them without incurring huge upfront costs,” says Phillip Battista, president of dealership technologies and head of modern retailing at J.D. Power.
“By adding SIA’s industry-leading auction platform to our existing J.D. Power Marketplace capabilities, we’re giving manufacturers, dealers and other key players the ability to take control of their inventory management process, bypassing expensive auction fees and cumbersome vehicle acquisition processes along the way.”
In addition to core online vehicle sales, auction and inventory capabilities, the J.D. Power Marketplace also includes J.D. Power’s vehicle valuation data, which gives users accurate, up-to-the-minute information on average retail transaction value, high and low auction values, and trending prices.
The platform also leverages J.D. Power ChromeData software and technology, which provides detailed build data containing options and features of each vehicle based on its individual vehicle identification number (VIN) and allows users to easily create digital marketing materials.
“By combining our strengths in digital sales and all aspects of vehicle data, we’re creating the ultimate one-stop shop for pre-owned inventory management,” says Jeremie Beckner, COO of Superior Integrated Auctions. “It’s an opportunity to keep working on an initiative that can address some serious pain points in the automobile industry.”
SIA’s senior leadership and all its employees will become part of the J.D. Power Marketplace team. Beckner will continue to lead the team as senior vice president of J.D. Power Marketplace, reporting to Battista.
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