J.D. Power Marketplace offers a large volume of high-quality, low-mileage vehicles for consumers, and these vehicles deliver better margins for dealers.
Photo: Helene Lopes / Pixels
Superior Integrated Auctions (SIA), a digital vehicle remarketing platform, is collaborating with J.D. Power to introduce an innovative online auction marketplace for auto dealers.
J.D. Power Marketplace is an electronic platform designed to help dealers acquire pre-owned inventory by bringing the traditional auction process online. It gives dealers access to more than 30,000 front-line-ready vehicles, thousands of which are available only on the J.D. Power Marketplace.
“Dealers still struggle with the lingering effects of the pandemic, global supply chain disruptions, and semiconductor shortages that continue to impact new vehicle production,” said Jeremie Beckner, COO of Superior Integrated Auctions, in an Oct. 7 news release. “The ability to strategically acquire and dispose of used vehicles has become crucial to success. Bringing auctions online eliminates the need for dealers to travel to physical locations to find and purchase the vehicles they need.”
While other online marketplaces offer pre-owned vehicles for sale, J.D. Power Marketplace offers dealers a unique auction experience. The marketplace exclusively lists thousands of front-line-ready vehicles from fleet providers affiliated with J.D. Power, as well as inventory from dealerships, leasing, and car rental companies. Because there is such a large supply of inventory on J.D. Power Marketplace, prices are more competitive than at local auctions.
“Prices for used vehicles at physical auctions have skyrocketed due to high demand, straining dealership budgets and reducing profitability,” said Phillip Battista, president of J.D. Power Dealer Technology. “J.D. Power Marketplace offers a large volume of the high-quality, low-mileage vehicles that consumers desire; and these vehicles deliver better margins for dealers.”
The marketplace provides dealers with real-time search, live simulcasts, intragroup websites, automated bidding, and an activity tracker for monitoring bidding and purchases. Notifications ensure dealers stay informed of important events, while sellers benefit from advanced reporting, account management, and auction management tools.
The platform integrates seamlessly with third-party inventory management applications and has built-in integration with J.D. Power solutions and with AuctionAccess, AutoIMS, OEMs, and financial institutions. The platform is also available as a white-label solution, allowing dealerships to customize marketplaces to meet the needs of their customers and partners.
More than 11,000 dealerships have access to J.D. Power Marketplace at no cost. The platform enhances the benefits gained from J.D. Power’s acquisition of Darwin Automotive two years ago, combining J.D. Power industry insights with Darwin’s technology solutions.
Originally posted on Automotive Fleet