CarMax, the largest used car retailer in the USA, is adopting UVeye’s industry-first vehicle inspection technology for its wholesale business operations. This move comes under a licensing agreement with UVeye, a vehicle inspection and safety company, and follows CarMax’s investment in UVeye since 2020. The two companies have been collaborating to enhance the used-car auction process.
Enhancing Transparency for Used Car Buyers
CarMax moved its auction sales online in 2020, making quality imagery crucial to providing buyers with sufficient information about each vehicle. The company has already installed UVeye systems at several wholesale locations and is planning to expand the use of UVeye technology throughout its wholesale business.
UVeye’s inspection systems use artificial intelligence, machine learning, and high-speed cameras to spot issues such as worn tires, underbody damage, frame damage, missing parts, fluid leaks, and problems with the brake and exhaust system. CarMax will use the UVeye vehicle scans to check the exterior, undercarriage components, and tires of vehicles and produce online user-friendly reports with high-resolution photos.
“Our partnership with UVeye allows us to drive integrity by being honest and transparent in every interaction,” said Dave Unice, Vice-President of Merchandising Operations at CarMax. “We believe UVeye’s technology will help us maximize efficiencies in our wholesale auction business and look forward to exploring new opportunities and potential uses with UVeye.”
UVeye’s Mission to Standardize Automated Inspection Processes
UVeye CEO and founder, Amir Hever, said, “UVeye is on a mission to standardize automated inspection processes throughout the automotive industry. Our program with CarMax represents a significant step towards meeting that goal. We will continue to work together on providing the best customer experience possible.”
CarMax will have a presence at UVeye’s booth at the annual National Automotive Dealers Association (NADA) conference in Dallas, Texas from January 26-29. During the fiscal year ended February 28, 2022, CarMax sold approximately 924,000 used vehicles and 706,000 wholesale vehicles at its auctions. With over 230 stores and more than 30,000 associates across the USA, CarMax is poised to bring greater transparency and efficiency to the used-car market with UVeye’s innovative technology.
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