Through a new partnership between Black Book and inventory procurement platform Drivably, Black Book’s automotive intelligence and vehicle valuation data are powering Drivably’s dealer inventory acquisition ecosystem.
Black Book says that in helping dealers find the right inventory opportunities, Drivably bases its recommendations on criteria such as a dealer’s unique preferences, historical dealership performance data, individual market and valuation data.
Drivably automates the buying process to help dealers, who spend a great deal of time appraising, analyzing, and bidding on cars for their dealership.
Black Book says that by using Drivably’s platform, dealers can spend time on more important business-related activities while making more money from the cars they buy.
Black Book’s executive vice president of revenue Jared Kalfus said in a news release that valuation precision is an important aspect of inventory acquisition to get the most margin at the retail sale.
“Black Book’s data analytics and insights will power the recommendation model that results in the Drivably score, increasing profit potential for each dealer on the Drivably platform,” Kalfus said.
In addition to a dealer’s unique preferences, Drivably’s model uses data from Black Book such as history adjusted valuations and retail market insights.
Drivably chief executive officer Tyler Hall said that simply analyzing the local market is not enough. Other data is extremely important in recommending the right inventory to dealers, he said.
“As online inventory acquisition becomes more mainstream, it will become increasingly more important to leverage the right data to make the right decisions,” Hall said. “With Drivably and Black Book, dealers can trust that our platform’s recommendations are accurate.”