|By Business Wire||
|May 21, 2014 11:57 AM EDT||
vAuto® announces that the United States Patent Office recently awarded U.S. Patent No. 8,589,212 to vAuto for its methodology and technology that helps dealers determine the used vehicles that will perform best in their local markets.
“The patent affirms that our Provision system offers a unique way for dealers to intelligently determine the ‘right’ used vehicles for their inventories,” says Dale Pollak, vAuto founder. “Other vendors may claim that their inventory management systems do what we do, but the patent proves there’s a difference.”
The Provision system combines vAuto’s methodology and technology to instantly give dealers a “Report Card” on every available used vehicle in their market. The “Report Card” grades seven distinct characteristics for each vehicle based on data vAuto’s Live Market View technology collects. The characteristics include a vehicle’s Market Days Supply, its desirability among consumers, its availability, its profit potential and the dealership’s experience selling the unit.
“The patent adds prestige to our Provision system and it means a lot personally to those of us who spent years developing a better way for dealers to manage their used vehicle inventories,” says Michael Chiovari, vice president of IT Operations for vAuto. “All along, we believed we had a one-of-a-kind approach, and the patent essentially documents that we were correct.”
In addition to Pollak and Chiovari, the patent names Chris Stutsman, director of Product Innovation for vAuto, and David Hawkins, a former vice president of Product Development at vAuto, as inventors.
vAuto® provides industry-leading new and used vehicle inventory management solutions for thousands of dealerships across the United States and Canada, helping them compete more effectively and increase sales volumes and profits. Founded in 2005, vAuto revolutionized dealers’ used vehicle operations with its Provision® system, which gives dealers real-time, local market supply-and-demand data and intelligence to make better acquisition, appraisal, pricing and merchandising decisions. The Provision system embodies the Velocity Method of Management™ principles pioneered by vAuto founder, Dale Pollak. In 2013, vAuto created the Conquest™ system, which combines live market data, incentive management and the Velocity method to help dealers stock, price and sell new vehicles more effectively. The vAuto Genius Labs division provides smart, simple and stand-alone solutions that include AuctionGenius and AutoVisor. Headquartered near Chicago, IL, vAuto is wholly owned by AutoTrader Group™, which also includes AutoTrader.com®, Kelley Blue Book®, VinSolutions®, HomeNet Automotive® and Haystak™ Digital Marketing. AutoTrader Group is a subsidiary of Cox Enterprises. For more information, visit www.vauto.com.