News

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The Profitability Imperative
07/18/13

How to Minimize Margin Pressure presented by Dale Pollak, vAuto founder and Todd Kinzle, vAuto Genius Labs co-founder.

http://niadatv.com/programs/v-profitability_imperative.htm

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AuctionGenius' Todd Kinzle Discusses Dealership Culture and Gross Profits
07/15/13

AuctionGenius co-founder Todd Kinzle explains how a more price-transparent sales culture can help dealers "hold gross" as they sell used vehicles to customers. Kinzle shared his views with Automotive Digest during the National Independent Automobile Dealers Association convention last month in Las Vegas.

http://automotivedigest.com/video/how-to-hold-sales-gross-and-not-price

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vAuto Genius Labs Releases AuctionGenius Mobile Application
05/03/13

vAuto Genius Labs Releases AuctionGenius Mobile Application Tool Allows Dealers Rapid Evaluation Of Auction Vehicles

OAK BROOK, IL - May 3, 2013 - vAuto Genius Labs™ announces the release of its AuctionGenius mobile application, which gives dealers incredibly fast access to condition reports and values to quickly evaluate auction vehicles for potential purchase.

"Our mobile application takes AuctionGenius to the next level," says Dale Pollak, vAuto founder. "Dealers can now research cars on the fly, which means they can evaluate more cars faster and increase their chances of acquiring the 'right' inventory while avoiding questionable vehicles."

"AuctionGenius has achieved an unprecedented level of direct integration with leading auctions," says Todd Kinzle, operations director for vAuto Genius Labs. "At auctions, dealers can use our mobile app to simply click through vehicles on a run list as they approach the block to see all the information they need to guide their bidding and purchase decisions."

Available for Apple iOS® and Google Android® platforms, the AuctionGenius mobile application can be downloaded from the Apple iTunes® and Google Play® app stores under "AuctionGenius."

The AuctionGenius mobile application integrates with leading auctions, including Adesa®, Manheim®, Brasher's® and others that serve franchised and independent dealers. The application also integrates condition reports from CARFAX®, as well as vehicle value data from Manheim Market Report (MMR), Kelley Blue Book®, NADA Used Car Guide® and other partners.

The AuctionGenius mobile application combines this information in an intuitive, hand-held display to help dealers be more precise and productive as they evaluate vehicles at physical auctions:

Mileage/trim-level detail: With a Vehicle Identification Number (VIN) scan of an auction-registered vehicle, dealers can immediately see its mileage and trim level. "This is a huge time-saver as it eliminates a couple steps in the valuation process for dealers and helps to quickly highlight specific equipment and options that often make the difference between a desirable car and a so-so unit," Kinzle says.

Powerful lane browsing: Dealers can use the AuctionGenius mobile application to efficiently evaluate vehicles across multiple lanes at an auction, or check comparable cars at different auctions. "For the first time, dealers who like to attend the physical auction can still effectively be in multiple places at the same time to increase their chances of getting the 'right' car for their dealerships," Kinzle says. "If a car catches a dealer's eye in a neighboring lane, the data's available instantly."

Unregistered cars: The AuctionGenius mobile application eliminates the mystery behind the sizable percentage of vehicles that arrive on the day of an auction sale. "Dealers often pass on these cars because there isn't enough time for a thorough review," Kinzle says. "With a VIN scan, the AuctionGenius mobile app instantly shows dealers condition and value reports to put these vehicles into play."

For dealers who use AuctionGenius and vAuto's Provision tools, the AuctionGenius mobile application functionality is now included in the Provision mobile application. This seamless integration gives dealers the ability to acquire, appraise and price used vehicles all in one easy-to-use mobile application.

About vAuto
vAuto® provides innovative technology, tools and business intelligence to help dealers improve their used vehicle department sales and profits. vAuto's Provision® Suite offers premium products that guide used vehicle acquisition, appraisals, pricing, merchandising and transparent sales processes for dealers based on real-time supply-and-demand data in their markets. vAuto Genius Labs provides smart, simple and stand-alone solutions that address everyday used vehicle management challenges. Today, thousands of dealerships across the United States and Canada rely on vAuto's industry-leading solutions. vAuto's visionary founder Dale Pollak has just released Velocity Overdrive: The Road to Reinvention. The book is the third in his best-selling Velocity series, which guides dealers to greater success through the Velocity Method of Management™. Headquartered in the Chicago suburb of Oak Brook, IL, vAuto maintains a research and development center in Austin, TX, and the vAuto Genius Labs office in Longmont, CO. vAuto is a wholly owned subsidiary of AutoTrader Group™. Additional information about vAuto is available at www.vauto.com.

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vAuto Expands Brand
11/27/12

vAuto Expands Brand, Launches Product Line To Serve More Dealers Initiative Highlights Premier and Stand-Alone Software Solutions

OAK BROOK, IL - November 27, 2012 - vAuto announces a company branding initiative that includes the renaming of its existing used vehicle inventory management product suite and the launch of a new product line.

"Since our inception, vAuto has been viewed as a provider of premium inventory management solutions that primarily serve franchise dealers," says Dale Pollak, vAuto founder. "Our recent acquisition of AuctionGenius brings a new opportunity to expand our product offerings and serve the broader market of independent and franchise dealers."

The branding initiative has two key components:

1. The Provision Suite: vAuto will rebrand its current Live Market Suite of inventory management tools to the Provision Suite. "vAuto's Provision Suite will continue to offer premier, industry-leading solutions that advance the Velocity Method of Management and help dealers manage every aspect of a used vehicle's lifecycle from an investment perspective," Pollak says.

2. Genius Labs Product Line: vAuto's new Genius Labs product line flows from the company's recent AuctionGenius acquisition. "AuctionGenius has shown us the value of affordable, stand-alone and task-specific solutions that address common, everyday challenges for dealers," Pollak says. "Every dealer needs to buy cars from auction, and AuctionGenius helps dealers evaluate and purchase auction vehicles more efficiently and with less risk than they could before."

AuctionGenius, which is the first product in the Genius Labs line, has also helped vAuto define the three characteristics that will guide development of future Genius Labs products:

Smart: Each Genius Labs product will be designed to solve a specific challenge in used vehicles-from acquiring cars to closing deals with customers. The tools will also incorporate vAuto technology and real-time market data to ensure intelligent, robust solutions.

Simple: Genius Labs products are built with dealer-inspired decision-making and workflows to make them intuitive and easy to use. "A mantra for our Genius Labs line is 'sophistication through simplicity' that will appeal to every dealer," says Todd Kinzle, co-founder of AuctionGenius and director of operations for Genius Labs.

Stand-alone: All Genius Labs products will function like AuctionGenius-a system-agnostic, stand-alone solution that dealers can customize to fit their individual needs. "There will be no requirement for dealers to purchase a Genius Labs product in conjunction with another vAuto solution or service," Kinzle says. "Each Genius Lab product will stand on its own and complement the used vehicle solutions a dealer already has in place."

vAuto plans to announce additional Genius Labs innovations in advance of the National Automobile Dealers Association conference in February 2013.

"We are excited about the potential for the Provision Suite and Genius Labs line to help a broader segment of dealers become more successful in their used vehicle departments," Pollak says.

About vAuto vAuto provides innovative technology, tools and business intelligence to help dealers improve their used vehicle department sales and profits. vAuto's Provision Suite offers premium products that guide used vehicle acquisition, appraisals, pricing, merchandising and transparent sales processes for dealers based on real-time supply-and-demand data in their markets. vAuto's Genius Lab provides smart, simple and stand-alone solutions that address everyday used vehicle management challenges. Today, thousands of dealerships across the United States and Canada rely on vAuto's industry-leading solutions. vAuto's visionary founder Dale Pollak has just released Velocity Overdrive: The Road to Reinvention. The book is the third in his best-selling Velocity series, which guides dealers to greater success through the Velocity Method of Management. Headquartered in the Chicago suburb of Oak Brook, IL, vAuto maintains a research and development center in Austin, TX, and field office in Longmont, CO. vAuto is a wholly owned subsidiary of AutoTrader Group. Additional information about vAuto is available at www.vauto.com.

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Auction Genius Adds SmartAuction To Its Car-Buying Platform
11/15/12

Integration Expands Dealers' Auction Purchasing Power

OAK BROOK, IL - November 15, 2012 - vAuto's Auction Genius announces the addition of SmartAuction to its wholesale vehicle evaluation and purchasing platform, giving dealers a wider selection to fill their used vehicle inventory acquisition needs.

"The agreement with SmartAuction advances our mission to help dealers evaluate and acquire more used vehicles in less time," says Todd Kinzle, co-founder and director of operations for Auction Genius. "Our platform now includes all of the 'Big 3' wholesale auction providers-Adesa, Manheim and SmartAuction-that dealers rely on to source used vehicles."

SmartAuction dealers who use Auction Genius can access, evaluate and purchase SmartAuction vehicles via the Auction Genius dashboard beginning today.

Auction Genius gives dealers a simple combined screen view to evaluate more vehicles in less time and participate in more auctions. The technology offers users complete vehicle condition, history and book value reports in a single, efficiency-focused, easy-to-use display. Auction Genius incorporates both local auction and vehicle specific information to help dealers make smarter buying decisions."Our customers have told us that they value the unique suite of tools Auction Genius provides them," says Steve Kapusta, vice president of SmartAuction, Ally Financial's online used vehicle auction. "As our industry begins to return to hitting the accelerator to find new ways of providing value and making it easier than ever for dealers to find the right vehicles for their market."

About Auction Genius
Auction Genius is a wholly owned subsidiary of vAuto that provides a web-based software solution to help auto dealers buy vehicles at auction. With a simple combined screen view dealers can quickly evaluate more vehicles in less time and participate in more auctions. Auction Genius incorporates both local auction and vehicle specific information to help dealers make smarter buying decisions. The Auction Genius platform integrates with a growing list of industry partners including CARFAX, AutoCheck, NADA Guide Book, Black Book, Kelley Blue Book, and Galves. Current auction integration includes Manheim Simulcast, OVE.com, Manheim PowerSearch, ADESA LiveBlock and OPENLANE, and Ally Financial's SmartAuction. Auction Genius is located in Longmont, CO. Additional information about Auction Genius can be found at www.auctiongenius.com.

About vAuto
vAuto provides innovative technology, tools and business intelligence to helpdealers improve their used vehicle department sales and profits. vAuto's Provision inventory management system simplifies the acquisition, pricing and merchandising of used vehicles for dealers based on real-time supply-and-demand data in their markets. vAuto's Auction Genius platform makes it easier for dealers to acquire used vehicles at leading auctions. vAuto's RealDeal leverages dealer market intelligence to build transparency and profits in used vehicle sales processes. Today, thousands of dealerships across the United States and Canada rely on vAuto's used vehicle systems. Dale Pollak, vAuto's founder, has written two automotive retail industry best-sellers, Velocity: From the Front Line to the Bottom Line and Velocity 2.0: Paint, Pixels & Profitability. Headquartered in the Chicago suburb of Oak Brook, IL, vAuto maintains a research and development center in Austin, TX, and field office in Longmont, CO. vAuto is a wholly owned subsidiary of AutoTrader Group. Additional information about vAuto is available at www.vauto.com.

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vAuto Acquires Auction Genius
07/11/12

vAUTO ACQUIRES AUCTION GENIUS, INTEGRATES MARKET-LEADING TOOLS TO HELP DEALERS BUY WHOLESALE USED VEHICLES ONLINE

OAK BROOK, IL - July 11, 2012 - vAuto announced the acquisition of Auction Genius, creator of a heads-up display for online auto auctions, and the roll-out of initial product integrations between the companies.

"This acquisition advances vAuto's mission to help dealers become more efficient and effective used vehicle retailers," says Dale Pollak, vAuto founder. "Auction Genius' intuitive dashboard offers the perfect blend of sophistication and simplicity. Its integration with vAuto's Provision system will eliminate the inefficiencies and difficulty dealers encounter every day as they evaluate and purchase the used vehicles they need from wholesale auctions."

"Today, every dealer relies on wholesale auctions for used vehicles. This highly competitive environment requires dealers to evaluate far more vehicles than they used to, and the time it takes to do the proper research is overwhelming," says Todd Kinzle, president and co-founder of Auction Genius. "Combining our one-stop dashboard with vAuto allows dealers to analyze as many as 10 times the number of vehicles and zero in on the 'right' cars with significantly more speed, ease and efficiency."

Dealers currently use multiple systems and tools to create used vehicle buy lists, match the lists with cars scheduled to be sold at wholesale online auctions and gather condition/market valuation reports to assess individual vehicles for potential purchase. They also access live online auctions via a separate system to buy the cars that fit their purchase parameters.

"Provision took the first step toward making auction purchases more efficient for dealers," Pollak says. "It provided a single platform for dealers to evaluate and place proxy bids to acquire the 'right' used vehicles. With Auction Genius, Provision fully completes the 'last mile' of the auction appraisal and purchase process, providing dealers robust, real-time access to leading online wholesale auctions to evaluate and buy used vehicles with greater efficiency and far less frustration."

The integration of each company's technology and tools has already begun; vAuto and Auction Genius customers can begin using elements of the integrated system this summer with full integration and functionality expected to be completed by December 2012.

Auction Genius founders and employees will continue to operate from their Longmont, CO., offices.

About vAuto
vAuto provides innovative technology, tools and business intelligence to help dealers improve their used vehicle department sales and profits. vAuto's Provision inventory management system simplifies the acquisition, pricing and merchandising of used vehicles for dealers based on real-time supply-and-demand data in their markets. vAuto's RealDeal leverages dealer market intelligence to build transparency and profits in used vehicle sales processes. Today, thousands of dealerships across the United States and Canada rely on vAuto's used vehicle systems. Dale Pollak, vAuto's founder, has written two automotive retail industry best-sellers, Velocity: From the Front Line to the Bottom Line and Velocity 2.0: Paint, Pixels & Profitability. Headquartered in the Chicago suburb of Oak Brook, IL, with a research and development center in Austin, TX, vAuto is a wholly owned subsidiary of AutoTrader Group, Inc. Additional information about vAuto is available at www.vauto.com.

About Auction Genius
Auction Genius is a web-based software solution for auto dealers buying vehicles at auction. With a simple combined screen view dealers can quickly evaluate more vehicles in less time and participate in more auctions. It incorporates both local auction and vehicle specific information to help dealers make smarter buying decisions. The program integrates with a growing list of industry partners including CARFAX, AutoCheck, NADA Guide Book, Black Book, Kelley Blue Book, and Galves. Current auction integration includes Manheim Simulcast, OVE.com, Manheim PowerSearch, ADESA LiveBlock and OPENLANE. Auction Genius is located in Longmont, CO. Additional information about Auction Genius can be found at www.auctiongenius.net.

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NIADA Partners with Auction Genius on Wholesale Solutions
04/20/12
Read the full article at AutoRemarketing.com
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Auction Genius is now partnered with Galves to provide yet another important valuation resource!
01/30/12
Auction Genius has established a new partnership with Galves to provide Galves Auto Price List values where you need them most. Our quick intuitive interface is one of the fastest ways to see Galves Trade-In and Market Ready values with complete option pricing. The Galves component is now fully integrated into all platforms in Auction Genius. If you would like to switch to using Galves you can find it in the AfterMarket or simply give us a call and we will help you install and configure the new component.
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Auction Genius Turbo Charges Auction Buying for Car Dealers
01/25/12

Instant Access to Auction Information Helps Dealers Buy Smarter

Original article on MarketWatch

DENVER, Jan. 25, 2012 /PRNewswire via COMTEX/ -- Auction Genius has just announced a unique web-based software solution for auto dealers buying vehicles at auction. The system provides a quick and simple way to access critical information allowing dealers to make faster and better "buy decisions" on auction vehicles.

Todd Kinzle, president of Auction Genius shared, "The profitability of many auto dealers rests on their ability to buy pre-owned vehicles substantially below their retail selling price. If they pay too much their profit disappears. The components we package in a simple combined screen view allow dealers to quickly evaluate more vehicles in less time and participate in more auctions."

Dealers have access to timely information today to make better decisions, but the challenge is a lack of integration to quickly and efficiently find what you need. Time is a precious commodity at every auto retailer so dealers using traditional methods to obtain their information will be at a disadvantage when their competitors are using cutting edge tools like Auction Genius to cut hours off weekly tasks.

Cheryl Brillon of the Balise Automotive group said, "My performance is measured by how many cars I buy and how well they sell in our stores. I have already seen a measureable improvement in the first 30 days of using Auction Genius and I know from what I see that my performance will be greatly increased over all."

By utilizing Auction Genius dealers can find those diamonds in the rough and act on them quickly before they lose an opportunity. Robert Hertel, General Manager at Ravenel Ford said, "Last week a truck came through the lane at a price of $22,000. With Auction Genius I quickly checked the book values and CARFAX and determined it was selling for $2000 less than I would expect. I could see instantly it was under the money and I bought it." He continued, "Auction Genius has leveled the playing field and put me on par with the best of buyers."

To provide maximum value to dealers Auction Genius integrates with industry partners CARFAX, AutoCheck, NADA Guide Book, Black Book, Kelley Blue Book, and Galves. Auction integration includes Manheim Simulcast, OVE.com, Manheim PowerSearch, ADESA LiveBlock and ADESA DealerBlock, and more sources are in development. These alliances on the Auction Genius platform provide timely and powerful resources for vehicle buyers.

Anyone working in auto retailing knows there are thousands of moving parts to a dealership, so streamlining every process is a necessity. Auction Genius has successfully provided dealers with a simple and elegant solution to save them time and money, two critical elements of profitability.

Auction Genius will be at the 2012 NADA Convention and Expo in Las Vegas (February 4 - 6) and dealers can see demonstrations of their service at booth number 3673. Auction Genius is web-based software for auto dealers buying vehicles at auction. It incorporates both local auction and vehicle specific information to help dealers make smarter buying decisions. The program integrates with industry partners CARFAX, AutoCheck, NADA Guide Book, Black Book, Kelley Blue Book, and Galves. Auction integration includes Manheim Simulcast, OVE.com, Manheim PowerSearch, ADESA LiveBlock and ADESA DealerBlock, with more in development. Auction Genius is located in Longmont, Colorado.

Original article on MarketWatch

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Auction Genius Enhances Service With CARFAX
01/24/12

Online Auction Buyers Get Instant Carfax Information To Help Bid Smarter

Original article on MarketWatch

LONGMONT, Colo., Jan. 24, 2012 /PRNewswire via COMTEX/ -- Auction Genius today announced a major addition to its unique web-based auction solution. Access to Carfax Vehicle History Reports and Carfax Auction Quick Check is available to Auction Genius users for any vehicle on the run list or in the lanes. Buyers now have the information they need all on one screen to buy the right cars at the right price.

"Auction Genius puts the Carfax Report right there in front of me for every vehicle that rolls across the auction block," said Tim Gaylord, President of Gaylord Leasing. "That literally saves me thousands of dollars in potential bad buys."

Carfax-subscribing dealers using Auction Genius can view the vehicle's history simply by adding the Carfax window to their display. The Carfax information automatically updates as each car moves through the lane, or users also can manually select vehicles from run lists to check. Carfax Advantage Dealers have the added benefit of viewing unlimited Carfax Reports and Carfax Auction Quick Checks for vehicles in Auction Genius.

"Carfax information is a must-have for auction units," said Larry Gamache, communications director at Carfax. "When buyers are better informed, they bid more aggressively and buy with an added level of confidence. Carfax and Auction Genius are committed to making sure our customers have the information they need to succeed."

About Auction Genius

Auction Genius is web-based software for auto dealers buying vehicles at auction. With a simple combined screen view dealers can quickly evaluate more vehicles in less time and participate in more auctions. It incorporates both local auction and vehicle specific information to help dealers make smarter buying decisions.

The program integrates with industry partners Carfax, NADA Guide Book, Black Book, Kelley Blue Book, and Galves. Auction integration includes Manheim Simulcast, OVE.com, Manheim PowerSearch, ADESA LiveBlock and ADESA DealerBlock, with more in development. Auction Genius is located in Longmont, Colorado.

About Carfax ( www.carfax.com )

Carfax is the vehicle history expert for used car buyers, sellers and the automotive industry. Carfax created the Vehicle History Report in 1986 and is trusted by dealerships across North America to help acquire, advertise and retail used cars. Carfax is integrated with over 250 acquisition and inventory companies and is the vehicle history provider of choice for 32 manufacturer Certified programs plus 2,000 automotive Web sites. Online shoppers view Carfax® Vehicle History Reports(TM) included with dealer listings more than 85 million times a year to buy with more confidence. Become a Carfax Advantage(TM) dealer or learn how Carfax can help your dealership win by visiting www.carfaxonline.com .

Connect with us on Facebook, LinkedIn and Twitter @CarfaxReports and watch us on YouTube. Friend Car Fox on Facebook and follow him on Twitter@TheCarFox. Download the 'Carfax for Dealers' mobile app from the App Store(SM) and Android Market(SM).Original article on MarketWatch

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Visit our Auction Genius booth at NADA. Booth #3673
01/11/12
Plan on meeting us in Vegas in February. We'll be in booth #3673 with live demos of the Auction Genius product. You can even sign up for your free trial! Stop by for a cup of fresh brewed Starbucks coffee as well.
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Newsletter
12/19/11
Please take a few moments to read our December Newsletter.
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Auction Genius Launches a New Web Site
12/14/11
Welcome to Auction Genius' new website. We are excited about the expanded information you'll find here. From videos and screenshots, a working sample of our AfterMarket, to the opportunity to sign up for a live demo and a free trial, we are proud to show you what Auction Genius can do for you.
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Newsletter
12/01/11
Please take a few moments to read our November Newsletter.
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Print with Auction Genius
10/30/11
Print with Auction Genius is one of the most exciting and useful additions we've made yet! This function lets you save vehicles on PowerSearch and Workbook, tell Auction Genius to generate the specific information you want to print, and then print, letting you to take all of your research with you on paper. It automatically separates vehicles based on auction and lane. (Only available on the Manheim platform.)
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Deal Notifier
10/20/11
Auction Genius developed Deal Notifier to display the MMR average, the ask price, and highlights the difference between the two up to the limit you've specified.
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Kelley Blue Book
10/03/11
Auction Genius is happy to announce complete integration with Kelley Blue Book. With the new component, you can now see all KBB values, including: Trade-In, Auction, Private Party, Wholesale Lending and Retail. You will find the Kelley Blue Book component on the Featured list or the Vehicle Valuation Category in The AfterMarket.

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