ACV’s Data-Driven Solutions Drive Profits and Optimize Inventory for Dealerships

Lester Glenn Auto Group unlocks increased revenue and operational efficiencies with ClearCar, ACV MAX and ACV Auctions

BUFFALO, N.Y., May 08, 2024 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial clients, is delivering innovative solutions to more dealers across the country who are navigating the complexities of the current automotive market, including lean inventory and pricing fluctuations. ACV’s winning combination of products—including its consumer acquisition solution, ClearCar; inventory management and appraisal system, ACV MAX; and core digital auctions solution, ACV Auctions—are enabling a growing swath of dealers to acquire more vehicles in their markets, profit from smart retail and wholesale decisions and optimize revenue streams within the dealership.

In an unpredictable market, characterized by inventory contraction and fluctuating consumer demand, nine rooftop Lester Glenn Auto Group is just one example of the power that data insights and AI-powered automation can have on a dealership’s success. When faced with the significant challenges in effectively managing inventory while maximizing profitability, Lester Glenn turned to ClearCar, ACV MAX and ACV Auctions.

The dealer group’s adoption of ClearCar has helped its stores overcome inventory shortages and weak retail traffic by tapping into consumer trade-in opportunities. ClearCar offers dealers an appraisal tool consumers can use to value their vehicle, acting as the bridge between dealers and consumers by enabling a transparent trade-in experience. Pricing accuracy is paramount in today's competitive landscape, and ClearCar's condition-enhanced pricing engine empowers dealers to make data-driven trade and purchase offers to consumers with confidence, ensuring maximum value capture in each transaction.

“ClearCar has enabled Lester Glenn to create a trustworthy car buying experience that is easy, consistent and transparent,” said Matthew Costanzo, Chief Strategy Officer for Lester Glenn. “It has unlocked a new revenue stream for consumer trade-ins at our dealerships. The condition-enhanced pricing engine empowers each of our nine stores to make informed decisions that ultimately benefit our bottom line. As a group, we are closing and acquiring the vehicles of nearly 40% of our leads, crushing our previous closing rates of 5%*."