TradeRev and ADESA have struck partnerships with some of Canada’s largest dealer groups, according to a news release. The agreements turn ADESA into the exclusive physical auction partner of some of Canada’s largest dealerships while making TradeRev’s mobile app these same dealerships’ exclusive online remarketing tool.
Through the agreement announced April 4, more than 120 dealership groups, including Dilawri Group of Companies, AWIN Group, Open Road Automotive Group and Weins Canada, are adding tens of thousands of vehicles to TradeRev’s buyer and seller dealer networks.
“With our combined services and offerings, we have the ability to streamline the used-vehicle life cycle and generate better outcomes for dealers,” said Lisa Scott, Chief Client Officer for ADESA Canada, a 50 per cent stakeholder in TradeRev, in the release.
TradeRev’s mobile app facilitates a “transparent” automotive exchange between used-car dealers. The app “helps dealer and dealer networks obtain true market value and close deals faster” by facilitating a one-hour auction in real time, according to the release.
The news follows an announcement that KAR Auction Services, which owns a 50 per cent stake in TradeRev through its ADESA business unit, increased its investment in TradeRev with an additional $15 million to assist in the company’s rapid expansion.
