Power Information Network and Driveitaway Form Alliance
WESTLAKE VILLAGE, CA – J.D. Power and Associates’ Power Information Network (PIN) and Driveitaway have formed a strategic alliance that will give franchise dealers online access to six- to nine-month-old rental vehicles still under factory warranty at fixed wholesale prices, eliminating the need for bidding or traveling to a physical auction location.
The jointly developed program provides dealers with direct access to an Internet remarketing platform for end-of-term vehicles, allowing dealers to identify and purchase vehicles to stock their lots. According to Mike Biwer, vice president of development and operations for PIN, “The concept is similar to the just-in-time department store model in which retailers order precisely what customers are buying now. In this way, supply and demand are quickly matched with a new level of efficiency.”
According to John Possumato, founder, president and vice chairman of Driveitaway, “We don’t expect to replace used-vehicle auctions, but the bottom-line impact of this remarketing tool is that more vehicles will sell earlier in the cycle to dealers that have identified customer interest.”
Franchise automobile dealers in Florida, Arizona, Nevada, and California will be the first in the country to participate in the program. In the southwest, vehicle supply will come from Steward Ventures, Inc., one of the largest National Car Rental and Alamo Car Rental licensees located in Phoenix, Ariz.; Fox Rent A Car, the largest independent car rental company, headquartered in Los Angeles; and American Loan Masters, a Dollar Rent A Car licensee based in Ridgecrest, Calif.