20 unchanged sentences
We power our marketplace with technology-driven products and value-added services that address the entire transaction journey, ranging from pre-inspection scheduling to post-auction services including title transferability verification, payment processing, financing, and transportation, and facilitate transactions both on and off our marketplace.
−Removed: Our comprehensive suite of services includes ACV Transportation, ACV Capital, and our Customer Assurance (Go Green), which help create a seamless and frictionless buying and selling experience for our customers to further enhance our marketplace platform.
+Added: Our comprehensive suite of services includes ACV Transportation, ACV Capital, and our Customer Assurance offerings, which help create a seamless and frictionless buying and selling experience for our customers to further enhance our marketplace platform.
We also provide data services to our customers for use outside of our marketplace.
9 unchanged sentences
As we continue to grow and offer more comprehensive and efficient services, our customers can further benefit from a more streamlined, simple, and consistent experience across the full used vehicle
−Removed: Table of Conten t s
These reinforcing flywheel effects continuously improve our scaled, digital marketplace, remarketing centers, and data and technology for our customers, resulting in growth for our marketplace platform.
3 unchanged sentences
Our marketplace platform leverages data and technology to power our digital marketplace and data services, enabling our dealers and commercial partners to buy, sell, and value vehicles with confidence and efficiency.
−Removed: Our digital marketplace offerings include our core auction offering and value-added services, ACV Transportation, ACV Capital, and our Customer Assurance (Go Green).
+Added: Our digital marketplace offerings include our core auction offering and value-added services, ACV Transportation, ACV Capital, and our Customer Assurance offerings.
Our remarketing centers provide an additional channel to provide dealers and commercial partners with auction services and offer expanded value-added services to our dealer partners.
3 unchanged sentences
Our digital marketplace connects buyers and sellers of wholesale vehicles nationwide, enabling them to transact intuitively and efficiently.
−Removed: Our core offering is our online auction, which facilitates real-time transactions of wholesale vehicles.
+Added: Our core offering is our online auction, which facilitates real-time transactions of wholesale vehicles between sellers and buyers.
Thousands of dealers transact every day, with sellers launching their vehicles directly to our digital marketplace, enabling buyers to search and discover relevant inventory through customized filters, such as price, location, and vehicle-specific details including mileage, year, make, and model.
9 unchanged sentences
Our financing product includes straightforward pricing with no hidden costs, allowing our customers to know their inventory costs upfront.
−Removed: • Customer Assurance (Go Green) .
+Added: • Customer Assurance .
We provide the seller with a Go Green assurance against claims related to defects in the vehicle which we did not identify in our condition report and otherwise may have exposed the seller to loss as a result of arbitration with the buyer.
We believe Go Green's seller assurance service instills more confidence in dealers and commercial partners to transact digitally.
+Added: Through our guarantee sale offering, we provide sellers with a price guarantee for vehicles to be sold on the marketplace.
+Added: If a vehicle sells below the guaranteed price, we are responsible for paying the seller the difference between the guaranteed price and the sale price.
Remarketing Centers
4 unchanged sentences
We provide proprietary, vehicle-specific intelligence, including cosmetic and structural vehicle assessments that can be integrated into leading vehicle history report providers.
−Removed: Table of Conten t s
−Removed: data helps our dealers and commercial partners buy and sell vehicles and accurately assess and document vehicle condition.
+Added: This data helps our dealers and commercial partners buy and sell vehicles and accurately assess and document vehicle condition.
Dealers utilize the True360 Report to make wholesale and retail transaction decisions with confidence both on and off our marketplace.
20 unchanged sentences
Apex is a proprietary wireless suite of data-gathering sensors.
−Removed: This application-driven device utilizes a multi-microphone array to capture higher quality engine sound recordings as compared to our previous data-gathering sensor AMP.
+Added: This application-driven device utilizes a multi-microphone array to capture high quality engine sound recordings.
This allows for real-time sharing of a vehicle’s engine sound and combines this data with information and inputs from a host of other sensors, including but not limited to non-audible range acoustics, vibration, atmospheric, VOC, and gyroscopic data.
The enhanced audio signature is not only designed to give buyers the highest quality listening experience in the industry, but it is also customized to be compatible with our engine fault detection machine learning models.
−Removed: Utilizing and building upon our existing AMP advanced machine learning algorithms, we leverage our extensive vehicle database to provide guided insights on vehicle engine conditions at the time of inspection.
+Added: We leverage our extensive vehicle database to provide guided insights on vehicle engine conditions at the time of inspection.
The Apex sensor platforms are compatible with multiple of ACV's built applications and can be utilized using iOS and Android-powered devices.
3 unchanged sentences
Our pricing engine utilizes our extensive repository of data to help predict wholesale and retail vehicle valuations at scale, and dealers can price any vehicle anywhere.
−Removed: Table of Conten t s
• Marketplace Enablement
8 unchanged sentences
Our configurable and integrated services support payment processing, risk management, processing of titles by a dedicated ACV team or automated through machine learning, arbitration, and transportation services.
−Removed: • Live Appraisal.
−Removed: Through live appraisals, we enable dealers to quickly assess the value of potential trade-in vehicles from consumers.
• Programmatic Buying.
16 unchanged sentences
Through services such as ACV Transportation and ACV Capital we help our customers manage the entire transaction journey on our marketplace platform, becoming an integral partner and deepening our relationships with them.
−Removed: Table of Conten t s
Growing Technology and Data Moat.
27 unchanged sentences
The marketing and business development teams own the customer relationship from initial inquiry to sign-up.
−Removed: After onboarding they are assigned a dedicated account manager or territory manager for on-going support.
+Added: After onboarding they are assigned a dedicated account manager or territory manager for on-
+Added: going support.
Engagement with our customers is driven by ongoing and regular communications from their account managers or territory managers and VCIs.
Additionally, account managers and territory managers determine appropriate promotions to re-engage buyers and sellers, as well as an incentive for new customers to sign-up and engage.
−Removed: Table of Conten t s
−Removed: We mainly compete with large, national physical vehicle auction companies, such as Manheim, a subsidiary of Cox Enterprises, Inc., Adesa, a subsidiary of Carvana, and OPENLANE.
+Added: We mainly compete with large, national vehicle auction companies, such as Manheim, a subsidiary of Cox Enterprises, Inc., Adesa, a subsidiary of Carvana, and OPENLANE.
The physical vehicle auction market in North America is largely consolidated, with Manheim and Adesa serving as large players in the market.
−Removed: Manheim has expanded into online wholesale marketplaces and auctions, and OPENLANE is also competing in the online wholesale auction market.
+Added: Manheim has expanded into online wholesale marketplaces and auctions, and OPENLANE is competing in the online wholesale auction market.
However, we do compete with smaller chains of auctions and independent auctions in the physical market.
22 unchanged sentences
The volume of vehicles sold through our auctions generally fluctuates from quarter to quarter.
−Removed: This seasonality is caused by several factors, including holidays, weather, the seasonality of the retail market for used vehicles and the timing of federal tax returns, which affects the demand side of the auction industry.
+Added: This seasonality is caused by several factors, including holidays, weather, the seasonality of the retail market for used vehicles and the timing
+Added: of federal tax returns, which affects the demand side of the auction industry.
As a result, revenue and operating expenses related to volume will fluctuate accordingly on a quarterly basis.
2 unchanged sentences
Typical seasonality trends may not be observed in periods where other external factors more significantly impact the industry.
−Removed: Table of Conten t s
Our Government Regulations
21 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.