AutoIMS has announced a new data partnership with Chrome Data to offer sellers standardized vehicle content data directly through the AutoIMS platform.
The new connection aims to meet the needs of the remarketing industry, and the call for a centralized vehicle data repository by the International Automotive Remarketers Alliance (IARA) Standards Committee.
More specifically, the solution addresses remarketer concerns related to increasing vehicle volumes in physical and online auction venues and the ongoing challenge to fully account for the equipment, options, and other information needed to maximize the value of a vehicle through better descriptions and pricing.
The data connection itself will allow participating AutoIMS consignors to access accurate, VIN-level, as-built vehicle descriptions, recall notices, MSRP, invoice prices, and warranty information as compiled from numerous OEMs by Chrome Data. The data is available to AutoIMS consignor clients, and is discounted for IARA members.
“This data will give our remarketers increased confidence throughout the remarketing process, resulting in lower days to sell and maximized residual value retention,” said Tim Meta, head of remarketing for Fifth Third Bank and IARA Standards Committee Chair.