Oakbrook Terrace, IL — mPower Auto, Inc., an inventory management solution provider for the retail automotive industry, formally announced today a corporate name change to vAuto, Inc. The name change positions vAuto for rapid expansion in 2007.
Dale Pollak, Chairman of the Board, stated, “Our new name sets the foundation for our company. The ‘v’ in vAuto stands for value and volume, reflecting the passion and energy we have for helping automotive dealerships maximize inventory value and increase sales volume.”
mPower Auto was launched in 2005 by Dale Pollak and Michael Chiovari after recognizing the need for greater financial insight within the pre-owned operations of retail automotive dealerships. This recognition led to the introduction of the industry’s first and only vehicle scoring system. This scoring system provides a better way for automotive dealerships to appraise, manage and price pre-owned inventory. The vAuto Score acts like a Beacon® or FICO® score for every vehicle and provides financial insight into the acquisition, wholesale disposition, reconditioning, pricing and desking decisions that dealers make every day.
This solution has significantly improved the volume, gross and age of pre-owned inventories for many of the most successful dealerships in the country. Users of the system include the highest-volume U.S. retailers for two of the five largest automobile manufacturers. Mike Marsh, a current vAuto customer, states, “For years, our front-end margin was below the industry average. Today, we are consistently higher than the industry average, and we
wouldn't be there without vAuto."
About Dale Pollak, Founder and Chairman of the Board, vAuto, Inc.
Drawing from 13 years experience as a Dealer Principal and eight years as a successful high technology executive serving the automotive retail industry, Dale Pollak is a highly sought-after authority on maximizing dealership profits from pre-owned vehicle operations.
Recognized as a speaker who educates, challenges and motivates his audience, Pollak provides profound insight into the everyday challenges faced by today’s principals and managers. He has worked extensively with Dealer 20 Groups, Dealer Associations, and large dealer enterprises across the country, promoting his innovative management disciplines. Pollak is currently authoring a book on best practices in successful pre-owned vehicle operations.
Pollak received his BS in Business Administration from Indiana University and is a graduate of the General Motors Institute of Automotive Development. Pollak also earned a law degree from DePaul University’s College of Law, and is a four-time winner of the American Jurisprudence Award for top performance in his class.