In this episode of the Used Car Dealer Podcast, Zach interviews Bob Hollenshead, the CEO & Founder of Accu-Trade, one of the largest used car wholesalers in the United States, and a serial entrepreneur. Zach and Bob discuss the current used car market wholesale conditions, Carvana, and the future outlook of the used car marketplace. Some of the questions asked include:
1) So, Bob, we still have a supply chain challenge this year, what has been your view of this 2022 used car marketplace thus far and where are we headed?
2) During the pandemic many dealers started leveraging online wholesale platforms, do you see dealers starting to come back to physical auctions as mask + early COVID restrictions are gone? What are your thoughts longer term on online versus being physically at an auction lane?
3) What are your thoughts on Carvana acquiring the physical auction assets of Adessa from KAR? What’s this mean for used car dealers?
4) If you are a small to mid-size used car dealer listening to this podcast, what advice would you give them in terms of how they should think about buying and holding used inventory right now?
5) One of the popular features of a Vroom or a Carvana website/digital retail experience is the, ”sell us your car” feature where you enter a VIN or DL plate number and they give you an instant cash offer. When we last spoke you told me you invented this concept at a previous company (Buybook). Talk about the importance of having this on your dealer website as many used car dealers do not? How has this technology evolved over the past couple years?
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Transcribe of this podcast - https://blog.sellyautomotive.com/blog/interview-with-bob-hollenshead-on-wholesale-market-carvana-acquisition-of-adesa-and-more