CARWAVE and BacklotCars recently joined operations so they could provide a live auction with a 24/7 marketplace, the companies announced Jan. 23.
The single digital platform, now hosted on BacklotCars, offers dealers more flexibility in the way they want to transact. Buyers have expanded access to more diverse vehicle inventory, while sellers can tap into the power of a broader buyer base.
“By combining both platforms onto BacklotCars we expanded access to inventory for buyers, increased visibility on sellers’ vehicles, and provided a more simplified customer experience,” said Peter Kelly, CEO of KAR Global, in a news release. “We worked closely with dealers to understand what they value most and incorporated their feedback so we continue to meet the needs of dealers in every market.”
The enhanced platform will be rolled out across the U.S. in 2023. So far, the new auction sale type is being offered to sellers in California and buyers in nearby areas. It will expand to customers in other regions in the coming months. BacklotCars runs live auctions on Mondays and Thursdays.
“Our teams worked tirelessly to ensure the transition was frictionless — providing our dealers with resources to ensure total support from day one,” said Justin Davis, president of BacklotCars. “In addition to the choice of sale types for our dealers, our KAR Global network also provides access to a dynamic transportation network and floorplanning solutions with rates.”
KAR Global is growing its digital dealer-to-dealer segment as it strives to build a global digital marketplace for used vehicles.