Reflections and Automotive Insights from the 2022 National Automobile Dealers Association Conference – Yahoo Finance

NADA revealed common themes and pain points, including the need to streamline inventory sourcing
BUFFALO, N.Y., March 18, 2022 (GLOBE NEWSWIRE) — ACV (Nasdaq: ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial partners, recently showcased their comprehensive suite of digital technologies and new artificial intelligence (AI) capabilities at NADA 2022. ACV is the trusted digital partner for thousands of dealers, enabling them to buy and sell inventory with transparency and efficiency.

“Dealers are the most resilient business leaders,” said ACV CEO George Chamoun. “Facing global supply chain challenges for new cars, franchise dealers are seeking additional pathways to acquire vehicles more effectively and to better merchandise vehicles online. Connecting with dealers at NADA this past weekend was inspiring. We feel honored to be the digital partner for such incredible companies and continue to support them with innovative technology and our talented and rapidly scaling team.”
Reflecting on the interactions at NADA, the following common themes were top-of-mind for dealers:
Vehicle Purchasing
Nationwide, the most pressing opportunity dealers discussed was sourcing inventory. Identifying the right vehicles, for the right price and backed by the ACV inspection report is key for dealers. ACV already has thousands of dealerships utilizing its platform to acquire inventory, but at NADA the new solutions were emphasized.
Recently, hundreds of dealers signed up for ACV’s new programmatic buying experience that enables them to bid automatically on inventory around the country. No longer tied to manually monitoring for potential inventory, dealers can set up proxy bids via an intelligent buying agent to automatically bid on and buy cars within the ACV marketplace entirely based on the dealer’s very specific pre-set criteria. No matter what time of day, the right inventory can be replenished across the lot while other business priorities can be attended to.
Consumer Acquisition
In addition to sourcing dealer inventory, it has become paramount to buy vehicles directly from consumers, cultivating trusted and transparent relationships with them. Brand integrity helps build trust with consumers, and dealers truly are dedicated to help those looking to trade in their vehicle understand the value of their vehicle. There are a number of ACV products drawing the eye of dealers as solutions to make the consumer acquisition process easier.
The Live Appraisal solution from ACV helps dealers engage directly with consumers at dedicated acquisition events or one-off consumer interactions at the dealership. This offering helps dealers appraise and value a consumer’s vehicle by leveraging ACV’s industry-leading inspection to give dealers real-time access to market pricing by launching consumer owned vehicles into a live 20-minute online auction. Dealers are adding transparency to their trade-in process and building trust with retail customers, resulting in securing more consumer vehicles.
In addition, ACV recently completed two acquisitions that grow their portfolio of data services and consumer acquisition offerings with Drivably and Monk SAS. Drivably leverages ACV’s data and pricing engine to deliver a condition adjusted price to a consumer while also engaging and helping schedule appointments at the dealership. Meanwhile, Monk uses computer vision AI technology to enable consumers to take photos of their vehicle using their phone, and through machine learning, automatically identify scratches, dents and damages. Visitors to ACV’s booth at NADA experienced first-hand how ACV is integrating consumer-sourcing capabilities with Monk’s automated vehicle damage detection. The addition of these products to the ACV family provides dealers and commercial partners with offerings to enhance the consumer acquisition prospects.
Digital Merchandising
While difficult to acquire at this moment in time, it’s imperative for dealers to thoroughly merchandise every used vehicle to its maximum potential. From intelligent merchandising, accurately pricing inventory, effectively selling vehicles with accident history, and strategically moving inventory within a family of rooftops, dealers approached ACV at NADA looking to solve these potential challenges.
Vehicle inspection reports from ACV increase accuracy and consistency of reporting significantly for the automotive industry. True360 provides unbiased third-party inspections that live as a report on the dealers’ vehicle description page (VDP) and within CARFAX and Autocheck, providing dealers and their consumers a trusted verification of retail vehicles.
ACV’s MAX Digital platform helps dealers accurately price wholesale and retail inventory to maximize profit on each vehicle sold by leveraging predictive analytics informed by machine learning. In partnership with the robust data gathered through the True360 Reports, predictive analytics leveraged from MAX Digital’s FirstLook gives dealers a clearer picture of just what customers are buying and selling locally and enhances their bottom-line.
Following inspection and pricing, the sale of vehicles within a dedicated family of rooftops is ensured through ACV PRIVATE MARKETPLACES. This fully customizable private network lets each dealer partner decide who they are inviting, the sale format, timing, and branding within the online marketplace to ensure efficient movement of inventory and more profitable sales within the preferred environment.
For more information on ACV, visit
About ACV
ACV provides a vibrant digital marketplace for wholesale vehicle transactions and data services that offers transparent and accurate vehicle information to customers. On a mission to build and enable the most trusted and efficient digital marketplaces for buying and selling used vehicles, ACV’s platform leverages data insights and technology to power its digital marketplace and data services, enabling dealers and commercial partners to buy, sell and value vehicles with confidence and efficiency. ACV’s network of brands includes ACV Auctions, ACV Transportation and ACV Capital within its Marketplace Products as well as True360, ACV Data Services, MAX Digital, Drivably and Monk SAS. For more information about ACV, visit
Media Contact:
Maura Duggan
[email protected]
A photo accompanying this announcement is available at

Related Quotes
SpaceX paid $250,000 to settle a sexual misconduct claim against Elon Musk after a flight attendant on the company’s corporate jet accused the CEO of exposing himself to her mid-flight, Insider reports.
These companies produce the only thing that matters.
Charles Schwab's annual Modern Wealth Survey also asked 1,000 Americans how much they needed in order to live comfortably.
Rising interest rates, supply chain constraints and Russia’s invasion of Ukraine are all issues currently plaguing the macro climate. The problem with all three, says Tony Dwyer, Canaccord Chief Market Strategist, is that for each problem there’s “no easy exit strategy.” The tough conditions are likely to persist, then. However, on the plus side, while these issues have sent most corners of the stock market into a tailspin, now investors are presented with stocks for which the term “oversold” re
As of 2:30 p.m. ET, the Naz was up a fraction of 1% — but Apple stock was down 2.2%. On the one hand, yes, some of the Apple news today is not great. As reports, Bank of America shaved $15 off of its price target on Apple stock this morning.
Companies could be returning trillions to shareholders. Here’s how to accept it.
What happened Several days after experiencing a pleasant share price pop on good regulatory news, Dynavax (NASDAQ: DVAX) repeated the feat on Thursday. An important partner for the company reported an encouraging development that morning, also in the regulatory sphere.
Investor sentiment has cratered in recent times in the wake of 40-year-high inflation, the Federal Reserve's decision to raise interest rates in response, and prolonged concerns in connection to Russia's invasion of Ukraine. With investors flocking to value stocks and safer assets for protection, shares of fast-growing technology companies have been especially crushed. The company's pullback has attracted the attention of CEO Anthony Noto.
Yahoo Finance's Dan Howley reviews how Twitter executives are going through with the acquisition deal with Tesla CEO Elon Musk, in addition to Musk's concerns on the platform's bot accounts.
‘I realize I will have to pay some fairly large taxes due to the gains on the stock, so I need to factor that into the sale as well.’
Novavax (NASDAQ: NVAX) investors are no strangers to tragedy. On Feb. 9 in 2021, shares of the coronavirus vaccine developer hit their all-time high of $331.68. Are longtime shareholders doomed to heavy losses forever, or will Novavax return to its glory days?
Harley says it is pausing the all of its production and shipments, except for its electric LiveWire line.
Jim Cramer says the short-term outlook is awful, but the answer is to stick with the long-term winners.
Since early this year, Wall Street has faced a storm of macro headwinds that have turned last year’s bullish run into a bearish trend. Year-to-date, the NASDAQ is down 27%, and the S&P, with a loss of 18%, is not far behind. The drop in the markets comes along with gains in Treasury bonds – the 10-year Treasury note rate is nearly up to 2.9%. In a thumbnail summary, we can say that last year, investors looked at the markets through TINA’s (there is no alternative) eyes; now, conditions are start
The volatility for stocks is heating up, but how likely is it that we'll actually get a 40% plus drop as some think? It all depends on this, says Evercore.
Costco Wholesale saw its share price plunge sharply in the past six weeks. Have prices reached a level or area where some farsighted investors see an opportunity? In this daily Japanese candlestick chart of COST, below, we can see a falling window (gap) and large red (bearish) candle before today's spinning top pattern where bulls and bears are in close balance.
Inflation is running hot. Farmland can help your portfolio with that.
Yahoo Finance Live anchors discuss third-quarter earnings for Cisco.
Investors weren't overjoyed about a fresh debt offering announced by Carnival, and a bearish new note from an analyst didn't help, either. After market hours on Wednesday, Carnival announced that it is floating a private offering of $1 billion worth of senior unsecured notes. Carnival says it plans to use the net proceeds of the issue to make scheduled principal payments on debt during fiscal 2023 and for general corporate purposes.
Celebrations may be in order for ZIM Integrated Shipping Services Ltd. ( NYSE:ZIM ) shareholders, with the analysts…


Enable Exclusive OK No thanks