ADESA, a business unit of KAR Global (NYSE: KAR), was named a 2021 Automotive News PACE Award winner for its Simulcast+ technology, according to news release earlier this month. The prestigious award recognizes automotive suppliers for superior innovation, technological advancement, and business performance.
“A huge thanks goes to our teams who worked tirelessly on this technology so that our customers can be more successful," said Peter Kelly, CEO of KAR Global. "We’re also grateful to our customers who came along with us on this journey — their feedback has been invaluable as we enhance the platform with powerful new features and tools.”
ADESA Simulcast+ is a first-of-its-kind product sealed with rave reviews from customers — some of the world’s largest commercial automotive consigners. It simulates the competitive live auction environment in a fully digitized, highly automated, live streaming format.
The technology provides buyers and sellers with flexibility, expanded access to vehicles outside the local auction market, and empowers sellers to combine vehicles from multiple locations in a single sale. First deployed in April 2020, Simulcast+ conversion and engagement mirrors results from physical auction sales.
The Automotive News PACE Award is the most recent recognition for the innovative platform. Earlier this year, ADESA Simulcast+ won top honors for the TechPoint Pandemic Pivot of the Year Mira Award in the Institutions and Large Enterprises category. The TechPoint Mira Awards honor companies for achievement, discovery and innovation in technology.
ADESA is a provider of digital marketplaces for wholesale used vehicles supported by more than 70 vehicle logistics center locations across North America. ADESA’s progressive technology, data-driven tools and customer support are helping make wholesale easy so its OEM, financial institution, rental, fleet, and franchise and independent dealer customers can be more successful.
KAR Global is a global wholesale used vehicle digital marketplace operator.