Cox Automotive tapped Derek Hansen as vice president of Operations, Inventory Management Solutions. In the new role, he will advance vAuto’s new Variable Management strategy, supported by its flagship solution, ProfitTime GPS, while continuing to grow Kelley Blue Book Instant Cash Offer and Upside—ultimately with the goal of helping dealers achieve more profitable retail and wholesale outcomes.
“Derek’s deep knowledge and experience in wholesale and retail operations make him the perfect person to lead this group,” said Grace Huang, president of Cox Automotive Inventory Solutions. “With today’s inventory challenges, Derek’s expertise in helping dealers understand how to achieve greater profitability in any market will be invaluable as they navigate a changing automotive landscape.”
Three key focus areas for Inventory Management Solutions and its clients are:
- Variable Management, vAuto’s new approach to used-vehicle inventory management, relies on data science to help dealers understand each vehicle’s profit potential. ProfitTime GPS helps dealers activate on that philosophy by providing them with recommended price ranges on every vehicle, every day to achieve optimal profitability and source smarter across multiple inventory channels.
- Kelley Blue Book Instant Cash Offer brings trust and transparency to an otherwise challenging part of the retail experience, as it gives dealers and consumers an easier way to come together on the value of a vehicle.
- Upside, Cox Automotive’s unique end-to-end wholesale solution, promises greater profitability for sellers while giving buyers an enhanced purchase experience. In the less than a year since it launched, Cox says Upside has already delivered over $4 million in profit-sharing back to sellers.
“The market has changed, making now the time for dealers to reexamine their approach to inventory management,” Hansen said. “We know that dealers who make stronger connections across their wholesale and retail operations can unlock greater profitability, and that’s exactly what these industry leading solutions—that I am excited to lead—can help them achieve.”
Hansen joined Cox Automotive in 2015 as senior director of strategic planning before assuming responsibility for Manheim’s digital operations as vice president of digital inventory solutions, where he led development and integration of the company’s digital and physical auctions and launched and grew Manheim Express. Most recently, he served as vice president of wholesale operations for vAuto. Hansen’s career also includes roles with Bain & Co., Deloitte Consulting and Intel Corp. He holds a Master of Business Administration degree from the Fuqua School of Business at Duke University and a Bachelor of Science in accounting from the Marriott School at Brigham Young University.
Originally posted on Auto Dealer Today