Vehlo acquires Velocity Automotive to expand suite of vehicle reconditioning software

Software can help remove barriers to distributor success, but given the multitude of products on the market, store owners need a place where they can find the services they need in one package. and At NADA, CBT News anchor Jim Fitzpatrick sits down with Vehlo CEO Michelle Fisher, Velocity Automotive founder Hugh Hascock and Executive Vice President Kara Hascock and a range of innovative playback solutions and recent acquisitions by Vehlo.

Important points:

1. Vehlo provides software solutions for three verticals of the automotive industry: retail, aftermarket and payments.

2. 80% to 90% of dealers still use spreadsheets to manage the recalibration process.

3. Vehlo introduces Velocity’s remanufacturing platform to its retail and aftermarket service suite.

Four. Kalah and Hugh Hathcock will remain on the Velocity team, working with Vehlo to continue overseeing operations.

Five. Software has become an integral part of competitive retailers. Improving the accessibility of digital services also helps the playing field for large and small stores.

“One of the unique things about us is that all of our founders stay in their businesses.” — Michelle Fisher

Notable Background:

— Under the leadership of Michele Fischer as CEO of Vehlo, the company has made multiple products and services available to dealers and now owns 80% of the remanufactured market.

— Kalah Hathcock is Executive Vice President of Velocity Automotive with 15 years of experience stimulating market growth by improving capabilities at Elead and Dealertrack Technologies.

— Hugh Hascock is the founder of Velocity Automotive as well as CRM giant Elead, which was acquired by CDK Global.

For more information on CBT News’ 2023 NADA Show, click here.

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