Vehlo acquires Velocity Automotive to expand suite of vehicle reconditioning software

Software can help remove barriers to dealership 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. At NADA, CBT News anchor Jim Fitzpatrick got the chance to sit down with Michelle Fischer, CEO of Vehlo, Hugh Hathcock, the Founder of Velocity Automotive, and Kalah Hathcock, the company’s Executive Vice President, to discuss their suite of innovative reconditioning solutions and recent acquisition by Vehlo.

Key takeaways:

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

2. 80%-90% of dealers are still using a spreadsheet to manage the reconditioning process.

3. Vehlo will be bringing Velocity’s reconditioning platform to their retail and aftermarket service suites.

4. Both Kalah and Hugh Hathcock will remain on the Velocity team to continue supervising operations in partnership with Vehlo.

5. Software has become essential for competitive dealerships, and improving the accessibility of digital services will help even the playing field for large and small storefronts.

“One of our Unique Elements…Is that all of our Founders stay with their businesses.” — Michelle Fischer

Notable background:

— Under Michele Fischer’s leadership as the CEO of Vehlo, the company has made multiple products and services accessible to dealerships, and now owns 80% of the reconditioning market.

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

— In addition to being the founder of Velocity Automotive, Hugh Hathcock is also the founder of CRM giant Elead, which was acquired by CDK Global.

Click here for more 2023 NADA Show coverage on CBT News.

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