It was mid-afternoon on Dec. 5, 2013, and KAR Auction Services chief executive Jim Hallett was at a meeting in a Chicago boardroom. A person in that meeting was discussing a new product called TradeRev that had been launched in Canada. “I stopped the meeting, and I said, ‘Go and phone the principals right now, and tell them we’d like to buy their company,’” Hallett said. Within 60 days of making that phone call, KAR was in discussions with TradeRev to acquire a 50-percent ownership stake in the company. The deal officially closed in August 2014.
Why it’s crucial to encourage women to pursue careers and education in tech.
How to Evaluate and Maximize Your Investment in New Technology Tools Technology is significantly transforming the way dealers do business every day in nearly all areas of operations, including vehicle acquisition, inventory tracking, remarketing and sales. New applications and tools that are designed to create new efficiencies, build new channels of business, streamline the way we service customers, enhance overall productivity and drive sales are debuting seemingly every month. The opportunities are endless, but so too are the potential challenges and pitfalls. How do you know which technology tool is the right one for your dealership? How do you determine if an investment is worthwhile? What do you do to make sure the technology is properly implemented so that you are realizing the full benefits, and not creating new issues? The following outlines best practices to help you make the right tech choice, and make the most of that choice:
Discover how 3D printing is revolutionizing the automotive industry – from manufacturing to car dealerships.
Augmented reality is picking up steam in the automotive industry. TradeRev explores the areas it is affecting.
Evolving consumer purchasing preferences are changing the car buying process. Learn why, how, and see how your dealership can keep pace.
Discover the five types of people every successful organization needs to have.
See how mobile changes the way dealers and shoppers now interact.
See how these three tools will keep your customers satisfied and engaged.
The automotive industry is working with Silicon Valley to develop technology like connected cars, autonomous vehicles, and ride-sharing.