Black Book announced it has partnered with Drivably, a leading inventory procurement platform for auto dealers leveraging artificial intelligence-driven solutions.
According to a press release, Black Book’s automotive intelligence and vehicle valuation data are powering Drivably’s dealer inventory acquisition ecosystem. Drivably’s offering helps dealers find the right inventory opportunities by making recommendations based on a variety of criteria including a dealer’s unique preferences, historical dealership performance data, individual market, and valuation data.
Auto dealers spend a great amount of time attempting to find the best inventory for their dealerships by appraising, analyzing, and bidding on the cars they think make the most sense for their dealership. Drivably automates the buying process so dealers can not only save time, but also acquire the best inventory for their lots. Through Drivably’s platform, dealers can make more money from the cars they buy and dedicate time to more critical business-related activities.
“Valuation precision is key in inventory acquisition to maximize margin at the retail sale,” said Black Book Executive Vice President, Revenue, Jared Kalfus. “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.”
Drivably’s model leverages various Black Book data including history adjusted valuations and retail market insights, in addition to a dealer’s unique preferences.
“Simply analyzing the local market is not good enough,” said Tyler Hall, CEO of Drivably. “There is other data that is critically important in recommending the right inventory to dealers. As online inventory acquisition becomes more mainstream, it will become increasingly more important to leverage the right data to make the right decisions. With Drivably and Black Book, dealers can trust that our platform’s recommendations are accurate.”