Jim Hallett, chairman and CEO of KAR Auction Services, Inc., gave a keynote address at the Fleet Europe Remarketing Forum in Barcelona about his views on the future of automotive remarketing based on over 40 years of industry experience and lessons learned as the leader of KAR Auction Services.
During the keynote, which was held Nov. 15 at the Catalunya Congress Center in Barcelona, Hallett discussed building the company from a single auction into a multi-national technology company. He also provided insight into KAR’s approach to remarketing through the company’s three primary business units, including ADESA, Automotive Finance Company (AFC), and Insurance Auto Auctions (IAA), according to KAR.
“The European auto remarketing industry is rapidly evolving. Economic trends, shifting demographics and rising customer expectations are accelerating change — and opportunity for new entrants and disruptors,” said Hallett. “Integrated technology and clear, actionable data are central to empowering the buying and selling experience. I appreciated the opportunity to contribute KAR’s insights and solutions to this important dialogue and dynamic marketplace.”
Hallett also participated in a panel session with three industry thought leaders discussing the impact of the global economic forecast for the remarketing business. They discussed opinions on a variety of social, political, and financial trends and how those may translate into perceptions, behaviors or actions that influence and impact the global remarketing ecosystem.
Each year, the remarketing forum brings in 150 industry professionals from a variety of diverse sections of the remarketing industry, including OEMs, residual value setters, and consultants, vehicle leasing companies, car rental companies, remarketing insurance providers, etc., to network and exchange insight in relevant industry topics, according to KAR.