Xcite is launching the Xcite Trade Network, a brand new wholesale network that will leverage its 500+ field representatives and vehicle merchandising technology to assist dealers in wholesaling vehicles efficiently and cost effectively.
CHICAGO, Dec. 20, 2022 /PRNewswire/ -- Xcite Automotive has announced the launch of Xcite Trade Network (XTN) to provide dealers a more efficient, effective, and economical way to purchase and sell wholesale vehicles. Xcite is leveraging new technologies to provide dealers access to over 60,000 vehicle listings in a marketplace designed to allow dealers to buy and sell confidently and with peace of mind. With the launch of XTN, Xcite Automotive provides one centralized solution to assist its 1300+ dealers in the process of selling and acquiring wholesale vehicles.
Xcite Trade Network
Xcite Trade Network
The launch of XTN rounds out Xcite Automotive's already comprehensive and connected suite of solutions, which the company categorizes in three foundational pillars:
1) Digital Photography for Retail and Wholesale
2) Vehicle Reconditioning
3) Wholesale Trade (XTN)
"We couldn't be more excited to launch our new Trade Network," said Phil Penton, CEO of Xcite Automotive. "Our technology is designed to make dealers' jobs simpler and more efficient. This third pillar in our suite of offerings is a natural next step and creates opportunities for our customers. We are looking forward to helping our dealers connect all the dots through our Frontline Inventory platform and newly acquired CarsByText platform."
When selling, Xcite dealers will benefit from reducing the number of vendors in the process. For example, inventory will flow seamlessly from Xcite's Frontline Platform to the Xcite Trade Network, making them accessible to thousands of dealers across the country. Assets collected by Xcite to retail the vehicle will uniquely flow to the network and eventually to the buyer.
Most agree that the best practices for retailing a vehicle are the same as those for wholesaling a vehicle. Xcite Automotive now brings that expertise to the process. Additionally, Xcite Automotive plans to leverage assets related to its PureVin product (OEM Build Data). Xcite's team on the ground at the dealership can also help identify vehicles ready for wholesale, utilize automated condition report technology, and follow up with dealer team members on open items related to the sale or purchase.
Dealer groups and fleet companies can expect to see innovative and highly customizable solutions designed to provide powerful private auctions. Dealer groups will also benefit from a newly developed intra-group platform designed to allow groups to freely share their inventory, customize sales terms, and engage in secure and private events. The Intra-group technology allows Xcite clients to deploy a waterfall approach exposing vehicles first to dealer group managers before being placed into wider networks.
Skip Dowd, CSO at Xcite Automotive, says: "As wholesale prices decline, we see dealers looking for ways to quickly move inventory before the retail value drops below the trade price paid. We are now in the perfect position to help our dealer network take advantage of these opportunities."
For more information on how Xcite can help improve your dealership's productivity, please call us at 1-800-898-5161, email us at email@example.com, or visit our website at https://www.xciteauto.com/trade.
About Xcite Automotive
Xcite Automotive has been on a mission to make the automotive industry faster, more innovative, and more profitable. Over 1,300 automobile dealers nationwide now rely on Xcite's team of 500+ employees to provide on-site vehicle photo, video, and 360 spin image capture services. Xcite provides digital and point-of-purchase vehicle-specific marketing content through its PureVin and Xcode software products. Xcite's brands include ReconLogic, CarStudioPros, VehicleStickers.io, CarsByText, and Frontline Inventory. Learn more at https://www.xciteauto.com/trade.
SOURCE Xcite Automotive