CarOffer reaches 10,000 dealer roofs registered on the trading platform


CarOffer reached a major milestone, as the CarGurus subsidiary announced on Tuesday that it had enrolled 10,000 dealer roofs on its automated instant vehicle wholesale platform.

According to a press release, the roofs of dealers registered with CarOffer are defined as those for which CarOffer and the relevant dealer have signed a registration agreement to participate in the CarOffer platform and CarOffer has entered the roofs of these dealers in its system of registration. sales management.

The company added that the tally also includes dealers who have signed an enrollment agreement but have not yet completed the CarOffer onboarding process.

CarOffer pointed out that its benchmark comes just two and a half years after the launch of its Buying Matrix platform, a stock market-like approach to vehicle ordering that can provide dealers with an instant, efficient and profitable way to buy, sell and trade. inventory.

The company said the rate of adoption of the CarOffer platform has snowballed as dealerships look for ways to effectively meet the needs of their local shoppers while simultaneously competing with national online retailers for inventory. “direct from the consumer”.

CarOffer also explained that there is a flywheel effect on the buying matrix: as the volume of active dealers on the platform increases, it simultaneously produces more options for dealers to acquire and offload. used inventory from other dealers as well as from consumers.

“It’s hard to believe that CarOffer’s first transaction was only two and a half years ago,” CarOffer founder and CEO Bruce Thompson said in the press release. “When we launched the product, we weren’t sure how quickly dealers would adopt an inventory trading platform that was completely foreign to anything they had ever encountered.

“That said, it was clear that the industry needed a radical change, as decades-old methods of sourcing and clearing inventory were inefficient, manual and time-consuming. So we did everything we could to create a one-of-a-kind platform, he said.

“I am so proud of the teammates at CarOffer who have supported our vision from the very beginning, as this milestone would not have been possible without their ambition and tenacity,” continued Thompson. “We have always had high aspirations, but the enrollment of 10,000 dealership roofs at the start of 2022 exceeded even our highest expectations. I owe it all to the incredible team that we have built and I truly believe that they are the only group of individuals who could have achieved this significant achievement.

CarOffer reiterated that its platform is designed to work much like the current stock market, applying instant liquidity and values ​​to vehicles.

• On the buy side, dealers can place limit orders and quotas for the units they want to acquire through a user-friendly interface that allows them to set the price, equipment, mileage and condition of the vehicles they want to buy ; automated technology fulfills orders seamlessly.

• On the sell side, resellers simply log in to view pending live offers that have been automatically placed on their inventory units. They accept the offers they want and checkout through a familiar shopping cart checkout process.

Last year, CarGurus launched the CarGurus Instant Max Cash offer which can allow a consumer to sell a vehicle in seconds to one of CarOffer’s growing network partners.

The CarGurus Instant Max Cash offer is powered by the CarOffer buy matrix and can automatically match the customer’s vehicle to the platform’s highest buy offer.

The company went on to mention that all customers of CarOffer dealerships can benefit from a streamlined logistics support process that includes managing transport, titles and inspections, all delivered on a single bill of sale. This facilitates nationwide trading to maximize stock selection and efficiency.

“To go from 0 to 10,000 registrations in such a short time is a testament to the hard work of the sales team and the entire organization,” said Mark Bland, Director of Sales for CarOffer.

“Achieving a milestone like this is a reflection of the dedicated efforts of the entire company, combined with the outstanding performance of our products and our partnership with the CarGurus team. I’m extremely proud of the team’s performance and the impact we’ve had on the industry,” added Bland.

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