Client News

IAA Virtual Lane™ Adding Third Aggregator Marketplace

Plus IARA Highlights and IAA CEO Talks Remarketing on AR Podcast

Published March 25, 2021 - Written by Steve Muscarello


Summary

The latest Client News – Remarketing Edition features exciting news about IAA Virtual Lane™ adding a new marketplace, highlights from the recent IARA Virtual Conference, and IAA President & CEO John Kett’s appearance on the Auto Remarketing podcast. 

Here’s my monthly roundup of remarketing industry news and IAA’s efforts to support our remarketing partners.

IAA Virtual Lane™ Adding Third Marketplace; Seeing Large Numbers of International Buyers 

I’ve got some exciting updates on IAA Virtual Lane™, our channel for remarketer vehicles via auction aggregators that exposes your inventory (over 750 units every day) to an even wider audience. International buyers account for a significant portion of sales, and a significant number of overall units sold are for Specialty. We currently partner with AiM’s MarketConnect and ARI’s Virtual Marketplace, and we’ll soon be announcing a third partner!  

Virtual Lane’s used inventory includes popular domestic and foreign brands all available via IAA Buy Now™, which allows buyers to immediately make a purchase at a set price. It features a diverse inventory selection, including all condition types for the following sellers: ARI, Avis Budget Group, Fusion Auto Sales, Hyundai Capital, Genesis Finance, Kia Finance, Stream Remarketing, and we’re in the process of onboarding more sellers. Reach out if you are interested in selling vehicles via Virtual Lane and we can get you on the platform.

IAA Sponsors IARA Virtual Conference 

IAA was a sponsor of the International Automotive Remarketers Alliance’s (IARA) Virtual Conference this past Thursday, March 18th. Folks from our Sales and Marketing teams were able to log on virtually and even network via virtual booths. The hosts and speakers did an excellent job of providing sessions packed with relevant topics including trends, outlooks, and changes in the industry and economy impacting the remarketing space. IAA looks forward to continuing to partner with IARA and is excited about attending the Summer Event  in San Antonio, August 24-26.

Auto Remarketing Podcast Features IAA President & CEO   

IAA President & CEO John Kett recently appeared on the the Auto Remarketing podcast to discuss what IAA has been up to in the first quarter of 2021 and our future plans. 

“2021 is about leveraging what we’ve learned and implemented,” Kett said. “We’ve got an enormous data set around vehicles, bidders and buyers that we are using to drive action. It’s one thing to have the data, it’s another thing to put it into action, and for our buyers and sellers to be able to use that [data] to make better decisions. For buyers to take risk out of the transaction to really understand what they’re buying, and for sellers to understand what the real value [of their vehicles is] and what the market price of these assets are.” 

Women in Remarketing Honors Michelle Casper 

Finally, congratulations to our own Michelle Casper, South Central Regional Vice President, who is part of this year’s class of Women in Remarketing. Michelle was the first female Vice President within our Operations team, and has blazed a trail for future female leaders within the largest part of IAA. Check out her recent interview in Auto Remarketing magazine.

Until next time, thank you for your business. Stay safe and healthy! 

Steve Muscarello Signature

Steve Muscarello, 
Senior Vice President, Chief Commercial Officer, IAA 

View IAA’s forward-looking statements