Dallas, January 24: CarMax will use UVeye technology to automate vehicle inspections across their wholesale network.
Pritish Bagdi
Courtesy: UVeye official
CARMAX, THE NATION'S LARGEST RETAILER OF USED CARS AND ONE OF THE LARGEST USED-CAR WHOLESALERS, HAS JOINED FORCES WITH UVEYE TO PROVIDE AI-ENHANCED CONDITION REPORTS FOR AUCTION BUYERS.
Since 2021, CarMax has been a strategic investor in UVeye. The companies have been collaborating on new ways to improve used-car auction processes. During the previous fiscal year, CarMax's wholesale division sold over 700,000 vehicles.
Under a licencing agreement with UVeye, CarMax is implementing industry-first inspection technology for its wholesale business operations.
UVeye systems detect issues ranging from worn tyres and sheet metal problems to underbody damage by utilising artificial intelligence, machine learning, sensor fusion, and high-speed camera systems.
In 2020, CarMax will move its auction sales online. In a remote-first world, capturing high-quality imagery is critical to providing buyers with as much information about each vehicle as possible. UVeye systems have already been installed at several wholesale locations, and the company intends to roll out UVeye technology throughout its wholesale business.
CarMax will use UVeye vehicle scans to inspect vehicle exteriors, undercarriage components, and tyres in order to quickly produce online user-friendly reports with high-resolution photos. CarMax's systems will also be able to detect issues such as frame damage, missing parts, and fluid leaks, as well as brake and exhaust-system problems.
“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. It’s a true privilege to have CarMax on this journey with us both as an investor and as a strategic customer. We will continue to work together on providing the best customer experience possible.”
Communiqué by - AMIR HEVER, UVEYE
Co-Founder & CEO
“CarMax’s purpose is to drive integrity by being honest and transparent in every interaction. Our partnership with UVeye allows us to further this mission by providing dealers with highly detailed imagery on auction vehicles online." Communiqué by - DAVE UNICE, CARMAX
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