ACV Auctions, Backlot, CarOffer, & US Wholesale Auto Competition

ACV Auctions is an online wholesale auto auction platform that helps dealers source and manage inventory, price vehicles, transfer titles, and finance and transport vehicles.

The company operates in the $230bn US wholesale vehicle market which facilitates the sale of over 22m dealer and commercial vehicles per year. Of the 22m wholesale vehicles sold annually, ~32% are dealer-to-dealer, 22% are off-auctions, and over 30% are from commercial consignors to dealers. ACV operates in the dealer-to-dealer channel and competes directly with KAR Auction’s Backlot Cars and Manheim.

ACV offers buyers more transparency and assurance when purchasing wholesale and sellers and saves sellers time and money relative to using physical auctions. ACV’s fees are ~$360 per vehicle which is about half of KAR or Manheim.

The company has over 18,000 marketplace users and is looking to onboard larger dealers to build on the base of independents. ACV is run by the company’s early angel investor who took over from the two founders in 2016.

Written in December 2021

Interview Transcript

Disclaimer: This interview is for informational purposes only and should not be relied upon as a basis for investment decisions. In Practise is an independent publisher and all opinions expressed by guests are solely their own opinions and do not reflect the opinion of In Practise.

This is a snippet of the transcript.to get full access.

Free Sample of 50+ Interviews

Or contact sales for full access

Already have an account? Sign in

Please Use PDF Download

ACV AuctionsACVA

Why is ACV Auctions interesting?

Related Content

CarMax: Inventory Missteps, Omnichannel Friction, and the Carvana Challenge

Root Inc: Carvana & Building a Scalable Partnerships Platform

Credit Acceptance, Carvana, and U.S. Subprime Auto: Ancillary Product Economics, Advances, and Dealer Incentives

U.S. Auto Retail M&A: Franchise Buyers, CarMax, and the Limits to Scale

Interview Transcript

Free Sample of 50+ Interviews

Related Content

CarMax: Inventory Missteps, Omnichannel Friction, and the Carvana Challenge

Former Executive Vice President at CarMax

Root Inc: Carvana & Building a Scalable Partnerships Platform

Former Product Manager at Root Inc.

Credit Acceptance, Carvana, and U.S. Subprime Auto: Ancillary Product Economics, Advances, and Dealer Incentives

US Auto F&I Advisor

U.S. Auto Retail M&A: Franchise Buyers, CarMax, and the Limits to Scale

US Automotive M&A advisor