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TrackX Begins Phase II of Vehicle Management Solution for Carvana, Expanded capabilities Include Tracking of Carvana’s Vehicle Repair and Maintenance
TrackX Holdings Inc. (TSX.V: TKX) (“TrackX” or the “Company”), an enterprise IIoT software platform provider for the management of physical assets, is pleased to announce the completion of Phase I of its national roll-out with Carvana (NYSE: CVNA), a leading eCommerce platform for buying used cars. Carvana uses advanced, proprietary technology to deliver a complete …
TrackX Holdings Inc. (TSX.V: TKX) (“TrackX” or the “Company”), an enterprise IIoT software platform provider for the management of physical assets, is pleased to announce the completion of Phase I of its national roll-out with Carvana (NYSE: CVNA), a leading eCommerce platform for buying used cars. Carvana uses advanced, proprietary technology to deliver a complete and seamless online car buying experience. By visiting carvana.com on a mobile phone, tablet or computer, customers can search for, buy, finance, and sell a car, all from their desktop or mobile device. The first phase of the solution manages vehicle location and inventory of tens of thousands of vehicles at Carvana’s current 37 U.S. locations. During Phase II, the TrackX Solution will further increase efficiencies by providing detailed analytics and workflows through the inspection, repair and maintenance processes.
“TrackX will help us achieve real-time visibility to the inspection, repair, certification, and distribution of vehicles through our innovative and industry-leading online used car retail process,” said Ernie Garcia, founder and CEO of Carvana. “The improved visibility, processing efficiencies and business analytics offered by the TrackX Vehicle Inventory and Processing Solution, supports Carvana’s unparalleled commitment to deliver the highest quality vehicle to our customers faster than any other company in the online used car retail space.”
All vehicles acquired by Carvana are put through mechanical and maintenance inspections, any necessary repairs, and finally, a sophisticated media center to prepare the vehicle for presentation on their retail website. The implementations will continue as Carvana expands nationwide to more than 40 locations.
“Carvana places significant importance on efficient, transparent service in the delivery of high quality vehicles to its customers,” said Tim Harvie, CEO of TrackX. “Therefore, Carvana leverages substantial human capital and technological assets to manage each vehicle’s location, status, repair, and delivery. TrackX shares the commitment to customer satisfaction and ease of doing business, and we are proud to be the solution provider to help Carvana further achieve its vision.”
Founded in 2012 and based in Phoenix, Ariz., Carvana’s mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online automotive retail platform, with a fully transactional website that enables consumers to quickly and easily buy a car online, including finding their preferred vehicle, qualifying for financing, completing the purchase and loan with signed contracts, and receiving delivery or pickup of the vehicle from one of Carvana’s proprietary automated Car Vending Machines.
TrackX, based in Denver, Colorado, is an enterprise Industrial Internet of Things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive management of physical assets. TrackX’s Global Asset Management for Enterprises (GAME) platform enables the IIoT by providing unique item level tracking, workflow processing, event management, alerts and powerful analytics to deliver solutions across a growing number of industries. This platform creates unprecedented visibility and business intelligence of man-to-machine and machine-to-machine interaction. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Knox Henderson, TrackX Holdings Inc.
Sean Peasgood, Sophic Capital
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur, including the implementation of TrackX’s solution on a national basis with Carvana are management’s best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.