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The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
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Member auctions will access the training program that helps KAR and its nearly 10,000 employees safeguard the data, information and business interests of their customers.
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OPENLANE iQ provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces.
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The deal builds on KAR's growth in the dealer-to-dealer segment, enhances its profile in the fragmented wholesale used vehicle market, and accelerates the company’s overall move to digital auction marketplaces.
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The data is available by subscription on the autoniq app and showcases information on similar year, make, and model vehicles sold at auction.
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KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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Commentary: A deluge in demand and a drought in supply are roiling the market.
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Velocicast technology fortifies simulcast capabilities and enhances customer experience.
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Ravin AI offers artificial intelligence solutions for vehicle inspections for diverse fleet, insurance and remarketing customers around the world.
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KAR Auction Services has announced that Peter Kelly will assume the role of CEO of the company effective April 1, 2021.
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