The AI-enabled app allows car dealers to remotely inspect and assess consumer trade-ins, vehicles at auction, and other inventory.
Ravin AI, leaders in developing AI-enabled vehicle inspection tools, announced the launch of ‘Inspect Trade’, a new inspection app that helps car dealers generate consistent condition reports and grade and price cars instantly. The solution extends Ravin’s product offering, Ravin Inspect, which inspects rental and off-lease vehicles to create a full remarketing condition report. It is used by global clients such as Toyota and KAR Global.
The inspection process for used cars at dealerships today is still mostly a manual one, which is costly and time-consuming, keeping cars from being sold as quickly as they could be. Additionally, dealers often produce incorrect estimates of a vehicle’s value because of a lack of transparency in the damage assessment process, leading to cars being sold at inaccurate prices.
Ravin’s Inspect Trade tool uses computer vision and deep learning AI, as well as dozens of exterior and interior images of a car and other unique VIN data, to get a 360 degree view of cars that helps dealers estimate the impact of damage on a vehicle’s value and communicate that accurately to customers. Dealers can easily inspect vehicles for damage using a mobile device without prior training.
“Ravin is continuing to build out digital vehicle inspection tools at a rapid pace, and we’re happy to now offer a solution that specifically addresses some of the pain points that car dealerships have when it comes to inspecting and assessing used cars,” said Eliron Ekstein, Co-Founder and CEO of Ravin. “Enabling dealers to leverage AI technology from their mobile phones to get an accurate picture of the condition and value of their assets, not only saves them significant time and money, but also allows them to convey the realistic pricing on cars to customers, which ultimately builds trust.”
