Press Release
IAA Exclusively Integrates SpinCar® Feature Tour® into Salvage Auction Platform
Published March 4, 2020 - Written by IAA, Inc.
Advanced Merchandising Capability Provides Detail on Vehicles’ Most Valuable Features
WESTCHESTER, IL – March 04, 2020 – IAA, Inc. (NYSE: IAA), a leading global marketplace connecting vehicle buyers and sellers, announced today that it has completed the integration of SpinCar® Feature Tour® into its online auction platform. This enhances the recently launched IAA 360 View™ and further expands the company’s industry-leading merchandising platform. Through this new tool, buyers will be able to quickly and easily identify value-added features and options present on each listed vehicle.
"Understanding the dynamics of a digital marketplace and the information buyers need to evaluate a vehicle asset is critical,” commented John Kett, Chief Executive Officer and President of IAA. “We do more than just sell a car online; we have set the industry standard in merchandising vehicles to buyers. Our merchandising platform, combining imagery, information and personalization, creates greater buyer engagement, delivers a more competitive auction environment, and drives higher proceeds for our sellers.”
Powered by SpinCar’s cloud-based software platform and comprehensive database of OEM-endorsed multi-media content, Feature Tour provides IAA’s buyers with instant access to each vehicle’s original manufactured features and options. By providing easy-to-understand videos, graphics and content, buyers are able to make more confident and informed purchase decisions. Feature Tour also provides buyers with the ability to customize their evaluation of vehicles based on specific areas of interest, including safety, performance, technology and convenience features.
“As more and more of the auction process moves online, vehicle sellers need to find new ways to enable buyers to understand the condition and inherent value of the vehicles that are being offered for sale,” said Devin Daly, SpinCar Co-Founder and CEO. “IAA is leading the way when it comes to building confidence with online auction purchases and we are thrilled to be working with them to introduce new merchandising technologies that bring greater levels of transparency and efficiency to the market.”
This exclusive integration is the latest addition to IAA’s leading global merchandising platform, which includes:
Enhanced imagery that enables buyers to best assess each unique salvage asset through features including IAA 360 View, Engine Start video, and High-Resolution Images.
Information that provides the buyer with in-depth details on the vehicle including Hollander Part Interchange®, ChromeData, AutoCheck, and Equipment Details.
Personalization that delivers curated vehicle content and options based on a buyer’s research, bidding and buying behavior through IAA Buyer Recommendation Engine™.
In 2019, IAA partnered with SpinCar, an automotive industry leader in digital merchandising, to introduce the salvage auction industry’s first 360° walk-around digital experience, IAA 360 View. Capturing both vehicle interiors and exteriors during IAA’s check-in and inventory process, 360 View extends vehicle evaluation tools and capabilities for the buyer beyond traditional condition reports and static photos.
More information can be found at https://www.spincar.com/products/feature-tour/.
Media Inquiries:
Jeanene O’Brien
SVP, Global Marketing and Communications
(708) 492-7328
Analyst Inquiries:
Caitlin Churchill
ICR
(203) 682-8200
About IAA
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has over 3,800 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base located throughout more than 135 countries and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. Buyers have access to industry leading, innovative vehicle evaluation and digital bidding tools, enhancing the overall purchasing experience.
About SpinCar
SpinCar offers automotive dealers, wholesalers and OEMs the industry’s most advanced platform for digital automotive merchandising. The company’s 360° WalkArounds® and Feature Tour® products build trust between buyers and sellers by bringing the physical showroom experience to car shoppers wherever and whenever they want. SpinCar’s proprietary shopper behavioral data and VINtelligent® Retargeting solution enable vehicle sellers to deliver hyper-personalized interactions across the entire car shopping journey. To date, the company has delivered nearly 600 million shopper interactions across 20 countries. To learn more about SpinCar, visit SpinCar.com.
Uncertainties Affecting Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include the statements regarding IAA’s future financial and operating performance, benefits and synergies of the separation, strategic and competitive advantages, future opportunities and any other statements regarding events or developments that IAA believes or anticipates will or may occur in the future. We disclaim any obligation or undertaking to update any forward-looking statements. For further discussion of such risks and uncertainties, see “Information Statement Summary,” “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in the information statement filed as an exhibit to IAA’s Registration Statement on Form 10, as amended.
