First-of-Kind Service Changes the Wholesale Game
HOUSTON, TX–(Marketwired – January 14, 2015) – CARPHORIA, an innovator in the auto services industry that is driving change in how cars are bought and sold, today announced an expansion of services to assist automotive dealerships with sourcing and moving used vehicle inventory without the risks, speculation and expenses that erode dealer profitability.
CARPHORIA’s Dealer Services division offers an inventory solution that enables dealers across the country to instantly sell any pre-owned unit it doesn’t wish to keep in inventory. The unique technology behind CARPHORIA’s Dealer Services solution sources, filters, sorts and instantly connects dealers with desired units. This ‘industry first’ solution connects selling dealers with buying dealers instantly, providing a real-time value which eliminates speculation, unwanted carrying costs, auction fees, and the expense of inventorying an unwanted unit — all at a scale and reach that can’t be replicated, even by large dealer groups.
Dealerships have always been at a disadvantage when customer trade-ins are highly specialized, unique or non-market appropriate units. The traditional routes for offloading unwanted inventory include sacrificing lot space, incurring auction fees or wholesaling — options that can result in a loss or minimal profit if not valued accurately at trade-in. Smaller dealerships are at an even further disadvantage when faced with high-end or specialty trades.
CARPHORIA designed the Dealer Services solutions to help dealers eliminate the frustration and expense that comes with carrying unwanted trade-in inventory while at the same time, helping dealers who are in need of specific units for their core inventory.
“I’ve been a dealer and I know first-hand of the struggle that juggling used inventory represents. With this solution we are actually lowering the financial risks associated with potentially losing a deal versus trading for a unit that doesn’t meet inventory needs,” said Michael Dodd, founder and CEO of CARPHORIA and a 25-year veteran of the automotive sales and service industry. “CARPHORIA Dealer Services is a match-making service for dealers, connecting them to their desired core inventory. Thanks to our vast affiliate dealer network and our cutting-edge technology, we’ve created a real-time trading model that connects buying and selling dealers across the country,” said Dodd.
This first-of-its-kind service is offered by a company that initially focused on enabling consumers with a venue to sell their cars to the dealer body across the nation. With the launch of its Dealer Services division,CARPHORIA has created a win-win solution that offers dealers an outlet for unwanted inventory and access to core inventory, that they would otherwise never have access to — a benefit to both the selling and the buying dealer.
“We offer everything from $500 ‘buy here, pay here’ units to premium luxury vehicles and that enables us to serve the needs of dealerships of all types and sizes, nationwide,” said Tracey Trachta, vice president of CARPHORIA. “We have everything from small independent dealers to some of the largest, most successful dealer groups in the country. It really levels the playing field and allows dealers to effectively manage their inventory mix. We are offered thousands of units each month, allowing us to provide the core inventory that dealers in our program are desperately searching for.”
“CARPHORIA Dealer Services has helped us in more ways than one,” said Adrian Aguirre of Jim Hoffpauir Cadillac/Chevrolet in Texas and participant in CARPHORIA’s Dealer Services pilot program. “There is no guesswork on trade-in values, and that allows us to close more deals without guessing. If we are faced with a trade we normally would not consider, we can now close that deal immediately, with no risk. They are also a great source of inventory that we would otherwise never have access to, which makes our jobs a whole lot easier,” said Aguirre.
Headquartered in Houston, Texas, CARPHORIA seeks to empower car buyers and sellers by bringing transparency and simplicity to the process, along with the resources needed to navigate the entire sales cycle. CARPHORIA’s unwavering commitment to service is reflected in its commitment to the service industry. Teachers, policemen, firefighters and military personnel always enjoy CARPHORIA’s onsite services — which includes its car buying service and pre-purchase inspections — completely free of charge, via their “CARPHORIA cares” campaign.
CARPHORIA’s Dealer Services division, which launched in early 2015, seeks to leverage technology to bring efficiency, cost savings and inventory solutions to the dealer body. For additional information, please visit www.carphoriadealerservices.
The company, which began in 2013 and opened two storefront locations in 2014, is on target to generate revenue in excess of $180M for 2015. For additional information, please visit www.carphoria.com.