PAVE Selected by TradeBid, Ireland’s First Digital Dealer-to-Dealer Automotive Marketplace
TORONTO – October 26, 2022 – PAVE, the world’s first automated vehicle inspection platform, today announced its successful expansion into new markets in Europe, the Middle East, and Central and South America. Among Discovery Loft’s first customers in Ireland is TradeBid, the country’s first dealer-to-dealer marketplace, which is using PAVE to allow automotive dealers to buy and sell pre-owned vehicles.
PAVE enables TradeBid to establish trust with platform users and keep inventory—and dealership sales—flowing while buying trade vehicles sight unseen. “In Ireland and abroad, there is a trust gap in the trade-in process,” says Conor O’Boyle, co-founder of TradeBid. “PAVE empowers our buyers to bid with confidence and our sellers to understand the actual value of their vehicle without subjective forces at play.”
When TradeBid customers upload a vehicle to the platform for sale, PAVE leverages artificial intelligence to provide complete vehicle details, including images highlighting any damages and anticipated costs to repair. Within two minutes, it generates a vehicle grade and condition report that TradeBid in turn shares with buyers and sellers—accelerating the trade process significantly. Compared to a traditional auction, where delivery and inspection requirements may take vehicles off the market for up to two weeks—PAVE enables TradeBid customers to complete the entire process in just a couple of days. Since launching PAVE in December, 2021, TradeBid has generated more than 5,000 PAVE reports.
“The pace at which PAVE has been accepted and adopted in international markets tells us there is an urgent need for our solution to facilitate and streamline vehicle inspection,” said Brian Steinhauser, co-founder and co-CEO of PAVE. “We anticipate continuing our global expansion at a rapid pace.”
PAVE is an automotive technology company that is reimagining how the world inspects vehicles. PAVE is powered by Intelligent Damage Detection capabilities, enabling anyone with a smartphone to complete a guided vehicle inspection by simply taking photos of their vehicle. Headquartered in Toronto, the team brings deep expertise from the automotive and technology industries, blending the best of both artificial and automotive intelligence. For more information, visit pave.ai.
TradeBid is Ireland’s most advanced digital trade marketplace, providing an online, end to end auction platform that allows car dealers, manufacturers and lease companies to buy and sell vehicles to and from each other. Headquartered in Dublin, TradeBid is a team of technologists, designers, marketers and automotive experts. TradeBid is a company within the Drive Inc. group.