Expanding Insights into Automotive Remarketing with New Online Auction Platform
J.D. Power has expanded its footprint in automotive remarketing with the acquisition of Superior Integrated Auctions (SIA). The acquisition merges SIA’s online auction platform with J.D. Power’s vehicle inventory, valuation data, predictive analytics, and digital marketing tools. This collaboration aims to streamline the management of pre-owned vehicle inventory for industry stakeholders.
J.D. Power Acquires SIA. Enhancing Capabilities Through Collaboration
Since October, J.D. Power and SIA have worked together to introduce the J.D. Power Marketplace, an electronic auction platform that provides dealers access to a wide selection of vehicles. The platform is designed to cater to manufacturers, dealers, finance companies, and car rental businesses, offering tools to create white-label online auctions and sales solutions.
Addressing Industry Pressures
With pre-owned vehicle inventory at historically low levels, dealers face challenges in sourcing vehicles without incurring high upfront costs. By integrating SIA’s auction platform into the J.D. Power Marketplace, the goal is to provide manufacturers, dealers, and other players in the industry with more efficient ways to manage their inventory and reduce costly auction fees and vehicle acquisition complexities.
J.D. Power Marketplace Features
The Marketplace is more than just an auction platform. It integrates J.D. Power’s real-time vehicle valuation data, offering insights into average retail transaction values, auction prices, and market trends. Additionally, it utilizes J.D. Power’s ChromeData software, providing detailed build data based on the unique VIN of each vehicle, and helps users create digital marketing materials for their inventory.
J.D. Power Acquires SIA. This acquisition brings together digital sales solutions and comprehensive vehicle data, positioning the J.D. Power Marketplace as a resource for addressing the ongoing challenges in pre-owned vehicle inventory management.