Cox Automotive has acquired Fyusion, a computer vision company that provides immersive vehicle imaging solutions for the automotive wholesale market and other industries, according to Cox.
This acquisition extends an existing collaboration between Manheim and Fyusion, who have worked together for years to provide mobile imaging and condition capture tools for the wholesale industry in the Manheim Express app, the company said. In addition to its three dimensional, 360-degree imaging capabilities, Fyusion plans to develop capabilities that will enhance vehicle inspections and deliver greater consistency and accuracy.
“Anywhere a car can be imaged, we believe the new technologies that Cox Automotive and Fyusion create together will translate to big benefits for our clients across the auto industry,” said Steve Rowley, president, Cox Automotive. “By bringing Fyusion into the Cox Automotive family, we will be able to deliver innovations to our clients faster and help fuel their continued success.”
Cox Automotive and Fyusion began working together in 2018 on the creation of imaging capabilities for Manheim Express to simplify and improve the wholesale vehicle listing process, Cox said. This included allowing dealers to walk a car and create a wholesale listing in minutes with its 360-degree and moveable images.
“Cox Automotive’s commitment to giving clients every advantage through technology made our decision to join forces with them an easy one,” said Radu Rusu, CEO and co-founder of Fyusion. “Combining our industry-leading imaging and AI expertise with Cox Automotive’s reach across the industry will bring game-changing innovations to dealers, commercial clients and consumers.”
As more dealers move to digital platforms, Manheim said it aims to transform the way vehicle information is captured and displayed, giving clients comprehensive vehicle information and rich visuals to enhance their buying experience, according to the company. Today, 83% of Manheim’s inventory is sold to digital buyers.
Originally posted on Vehicle Remarketing