This collaboration brings together the capabilities of Impel, a provider of artificial intelligence (AI)-powered customer lifecycle management and digital merchandising solutions for the automotive industry, and ClearCar, a trade-in condition and valuation solution from ACV Auctions, the companies said in a Thursday (Feb. 1) press release.
By incorporating the companies’ technology into the process of qualifying and valuing vehicles offered for sale by consumers, dealers will be able to more consistently and cost-effectively source inventory directly from consumers, according to the release.
Impel’s generative AI platform is already used by thousands of dealers to automate many tasks that were previously performed by dealership staff, the release said.
The newest application launched by Impel, Car Buying AI, manages and qualifies “buy my car” leads submitted through third-party marketplaces or generated directly from dealer websites and advertising initiatives, per the release.
ACV’s ClearCar Price, a digital pricing engine, and ClearCar Capture, an AI-based imaging and self-inspection tool, provide increased transparency and accuracy in vehicle valuations, according to the release.
With the integration of ClearCar, Impel’s Car Buying AI supports vehicle sellers through the entire appraisal and valuation process, providing a seamless experience for consumers while enabling dealers to effectively distinguish between serious sellers and casual price checkers, the release said.
This solution helps dealers meet the challenge of valuation inquiries being neglected by their staff due to the high volume and low engagement rate of consumers who are simply curious about their vehicle’s worth, per the release.
Impel’s Car Buying AI application leverages domain-specific prompt engineering and, through integration with ClearCar’s valuation and inspection products, manages the vehicle acquisition process without the need for manual intervention, the release said.
This combined solution effectively identifies qualified, ready-to-transact vehicle sellers, while freeing up dealer staff to focus on higher-value sales activities, per the release.
There is increasing demand in the auto industry for automation and digital technology solutions, Impel said in January 2023 when announcing that it had raised $104 million to grow its digital engagement software.
“The past few years have brought massive change to the auto industry as traditional operating models have been fundamentally transformed with digital technology,” Impel Co-founder and CEO Devin Daly said at the time.