Dealers can then bid on the vehicle or make a purchase offer. The DriveBid marketplace allows consumers to place their vehicle into a virtual garage and receive Black Book’s trade-in valuation or valuation range for their vehicle. “Dealers will have up-to-date, precise data so that they can more competitively bid for new inventory, make more desirable trade offers and sell more vehicles.” “Integrating Black Book’s data into DrivenIQ’s DriveBid platform provides dealers with the data they need to increase their revenue and maximize their profit,” said Jared Kalfus, President of Black Book. At NADA, DriveBid signed over 250 dealers onto their new platform.
Nada black book update#
With so much on the horizon, including electric cars, autonomous vehicles, car-sharing and e-commerce, Rome said that as long as dealers can adapt to change, they will do well.DriveBid, with Black Book data, helps dealers find, bid and buy vehicles direct from consumers.ĬHARLOTTE, N.C., Ap(GLOBE NEWSWIRE) - Capstone Technologies Group, Inc (OTC: CATG) a company that acquires, operates and organically develops disruptive technologies, today provided an update with respect to its minority interest in data technology and media company, DrivenIQ.īlack Book has announced the integration of its VIN-specific valuation and VIN Decoding data into DrivenIQ’s new DriveBid™ platform.ĭriveBid, the first consumer-driven Live Trade-in Marketplace, helps dealers sell more cars while sourcing valuable inventory direct from the consumer. “That’s where we’re heading next,” said Rome.Īs for the changing automotive landscape and a lower sales forecast, Rome praised dealers for their resilience to change. The NADA Show provided CBB team members with the opportunity to connect with dealers and partners, as the company actively seeks to expand the business by creating bigger partnerships. We’re very fortunate to have such great partners throughout the entire business.” “The other thing too is the partnerships that we have: they’re integrating our data into their products to help enhance the experience for dealers as well - to help dealers get the information they need to to get the deal done,” said Rome. The website has also been described as more responsive to ensure users are able to benefit from the best possible experience. Whether users choose to access the product on their smartphone or their desktop, they can have the same vehicles appraised on either device seamlessly. “Our B2B product called CBB Connect was all redone and we’re constantly innovating with that product, in terms of new enhancements and interfaces,” said Rome. In 2018, the company re-launched their consumer website to enhance the consumer experience and make changes to their listings - specifically to the design, to make it more attractive and easier to navigate. Rome said CBB has really changed things up in the last year.
“Everybody wants to do everything digitally now.”
“We do produce the book, but it’s getting smaller and smaller all the time,” said Brad Rome, President of CBB. Brad Rome, President Expanding the businessĬanadian Black Book is moving past the days of the little black book and towards expanding its business and growing its partnerships.
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