Exciting New ACV Features and Future Updates

Greg Borowski, VP of Product Solutions, and Matt Mitteldorfer, Director of Sales Enablement, revealed some exciting new features and future updates designed to enhance the ACV experience.

Premium Packages Feature

This feature provides detailed information on the original packages and options for newer vehicles, along with their MSRP value. Now, dealers can see these details directly on the vehicle display page.

Premium Package Information

Future Updates:

The revamped Market Report offers comprehensive insights into vehicle values, including both wholesale and retail values, as well as past comparables sold on ACV Auctions with their full condition reports. This transparency ensures that dealers can make well-informed decisions.

Greg also hinted at an exciting update to the Vehicle Display Page, driven by extensive dealer feedback. Set to roll out later this year, the updates aim to improve how information is displayed, enhancing the overall user experience for both buyers and sellers.

Video Transcription:

Matt Mitteldorfer (MM): So Greg, product and tech are always evolving. What are some new features you can tell us about?

Greg Borowski (GB): Sure, Matt. So there's a couple of new features that are just rolling out. The first is what we call Merchandising. So what you'll start to see, especially on newer vehicles, is what the original package and options were and what they were worth at MSRP. And that's a big deal, especially for a two or 3-year-old vehicle where that one package could have a three to $5,000 impact in terms of its value. So now you'll be able to see the original packages and options right there on the vehicle display page.

MM: That's Great.

GB: And then the second is in our Market Report. So we're rolling out a redesigned Market Report, and that is intended to help inform you about what is the value of a vehicle. So you can see not only the wholesale value, but the retail value as well as past comparables that have sold on ACV Auctions along with their full condition report. We don't hide anything when you're looking to make an informed decision about what that car is worth.

MM: Any future things that you can kind of give us a little bit of insight to?

GB: So, Matt, we typically don't like to talk about things that are a little bit further down the road, but the one that I can tell you that we're really excited about, and I know a lot of our buyers can be very excited about, are updates to the vehicle page. We have a mountain of customer feedback talking about how they would like to see information displayed, and we'll have a new vehicle display page that will roll out later this year.

MM: That's going to be huge for our buyers and our sellers. They're really going to dig that. Greg, once again, thank you. Can't wait for the current products and our future products on ACV Auctions.

GB : Thanks Matt.

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