Carrier by ACV Transportation™ App Offers Digital Efficiencies, Protection and Faster Payment for ACV Auctions Vehicle Carriers

BUFFALO, N.Y., April 05, 2022 (GLOBE NEWSWIRE) -- ACV, the leading digital automotive marketplace for wholesale vehicle transactions and data services, announced today the launch of the Carrier by ACV Transportation™ app - a free, easy-to-use digital tool for car haulers to efficiently manage their vehicle pick-ups and deliveries. Available to all ACV Auctions registered carriers nationwide, the Carrier by ACV Transportation™ app provides an intuitive, streamlined digital product that eliminates the need for paper-based pickup and drop off slips with a practically touchless experience for vehicle carriers. The enhanced ease-of-use translates to a seamless

experience for the carrier, faster payment, and increased protection for their business.

“Our vehicle carriers are a crucial part of the ACV Auctions marketplace, providing dealers with seamless and efficient options for vehicle pickup and delivery without leaving the ACV Auctions app. We saw an opportunity to leverage our expertise in building digital products to help improve the way carriers engage with ACV,” said Vikas Mehta, COO of ACV. “Our carriers need digital tools to streamline their business and speed up payment. With the Carrier by ACV Transportation™ app, we are reducing their liability, digitizing traditional paper processes and providing photographic evidence of the condition of a vehicle at pickup and drop-off. In the automotive industry, time is money, and we’re proud to offer digital solutions to all members of the automotive ecosystem in order to reduce friction and add efficiency to legacy, manual processes.”

With the Carrier by ACV Transportation™ app, vehicle carriers can now eliminate the traditional paperwork required to complete vehicle transports, which speeds up delivery completion and payment. Carriers can take advantage of a vehicle identification number (VIN) scanner in the app, eliminating the need to manually enter a 17-digit number for each job. An Electronic Bill of Lading (eBOL) provides a touchless and secure way to track shipments, and also translates into faster payment for the carrier. These added measures of accountability also include the app’s photo capture, enabling photo uploads of the vehicle condition at pickup and drop-off, and most importantly, a mandatory image of the key location. These real-time photos with timestamps empower the carrier to protect themselves in the event of a damage claim.

“The ACV Transportation team has been so responsive to feedback and ideas; I feel like this app was created specifically for me with my business challenges in mind. The app is easy-to-use, saves me time and protects me from damage claims thanks to the photo capture. My favorite feature is the latest update allowing for multi-leg moves. It is a great addition to the app and now allows one driver to pick-up a car and another driver to deliver the car to the destination,” said Matthew Farrell, owner at Boss Towing in Buffalo, NY.

The Carrier by ACV Transportation™ app is available for registered ACV Auctions vehicle carriers and free to download through the Android and Apple app stores. Carriers interested in signing up to join the ACV network of carriers can visit: https://www.acvauctions.com/haul.

About ACV Transportation:
ACV Transportation was founded in 2018 by ACV teammates who saw an opportunity to better serve their dealer customers within the ACV Auctions online marketplace. Born from the innovative spirit of start-up ACV Auctions, ACV Transportation has become an active two-sided marketplace within an existing two-sided marketplace. Like its parent company ACV, ACV Transportation is using technology and data insights to transform an analog challenge within the wider used car industry - transportation of purchased vehicles to the buying dealer.

ACV Transportation offers dealers safe, seamless delivery solutions for the vehicles they purchase on the ACV Auctions platform. This fast-growing business within ACV offers competitive pricing through a nationwide network of over 5,000 reliable carriers, along with real-time pricing and status updates displayed directly in the ACV app. Additionally, ACV Transportation includes protection from missing the arbitration window with an automatic 48-hour extension beyond receipt for any delayed deliveries. These investments are driving strong top line growth by delivering highly differentiated services to the market, while also creating efficiencies for both our partners and for ACV.

In a few short years, ACV Transportation has experienced accelerated growth, supports ACV customer retention and continues to be a key enabler of attracting new buyers to the ACV platform. Its growing carrier partner network and fast cycle times resulted in attachment rates surpassing 50 percent in Q4, exceeding ACV’s initial goals for the business unit by a full year. The ACV Transportation carriers have been busy logging miles and recently surpassed a milestone of 100 million miles of deliveries. ACV Transportation is already achieving long term adoption goals and is positively impacting the retention of ACV Auctions customers. Now with Carrier by ACV Transportation™, the business will be able to offer more favorable pricing for dealers, efficient avenues for sourcing business for carriers and profitability for ACV.

About ACV
ACV is on a mission to transform the automotive industry by building the most trusted and efficient digital marketplace and data solutions for sourcing, selling and managing used vehicles with transparency and comprehensive insights that were once unimaginable.

ACV’s network of brands include ACV Auctions, ACV Transportation and ACV Capital within its Marketplace Products as well as True360, MAX Digital, Drivably and Monk SAS. For more information about ACV, visit www.acvauto.com.

Trademark reference: ACV and the ACV logo are registered trademarks or trademarks of ACV Auctions Inc, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

Media Contact:
Maura Duggan
ACV
Director, Communications
maura@acvauctions.com | 716-359-0706

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4ceadc42-82da-456d-8a60-f405f53ca25f