Since CarMax strategically invested in UVeye in 2021, both companies have been working together on innovative inspection solutions for the auction space. CarMax moved its auction sales online in 2020, and in a remote first world, capturing quality imagery is critical to providing buyers with maximum information regarding each vehicle. CarMax has installed the technology in several wholesale locations and uses UVeye to scan the body, tires, and the undercarriage of vehicles to quickly produce an online user-friendly report with high resolution photos. The system also has the capability to detect issues such as frame damage, missing parts, fluid leaks, brake and exhaust-system issues. CarMax operates the system through a license from UVeye.
“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,” said
UVeye CEO
CarMax intends to continue to roll out the system across its wholesale business, which sold more than 706,000 vehicles in the last fiscal year.
CarMax will be appearing alongside UVeye at their exhibition at this year’s NADA conference to be held
About CarMax
CarMax, the nation’s largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. CarMax also provides a variety of vehicle delivery methods, including home delivery, express pickup and appointments in its stores. During the fiscal year ended
About UVeye
UVeye systems utilize a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor-fusion technologies. The drive-through systems can detect within seconds external or mechanical flaw and identify anomalies, modifications or foreign objects from under and from any side of a vehicle. UVeye's scanning processes complete within seconds and can be used throughout a vehicle's lifecycle. Its technology originally was developed for the security industry to detect weapons and contraband. It now is used in the auto industry to detect a wide variety of quality issues, including oil leaks, paint scratches, tire problems, brake-line damage and exhaust-system issues. The company's investor group includes CarMax, Meitav Dash Investments, Menora Mivtachim Holdings, Y.D. More Investments, General Motors, Toyota Tsusho, Volvo Cars, W.R. Berkley.
Public Relations CarMax (855) 887-2915 PR@carmax.comSource: CarMax
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