KAR Auction Services has launched ADESA Europe digital auction, the company announced.
The digital product is a rebranding of Belgium-based CarsOnTheWeb (COTW), which it acquired earlier this year in February 2019.
The rebranding will extend the KAR family of companies' international name recognition and reputation to Continental Europe, the company stated. ADESA Europe will continue to provide COTW customers with an online wholesale vehicle auction marketplace that connects OEMs, fleet owners, wholesalers, and dealers in more than 50 countries.
ADESA Europe will operate in local markets as ADESA Belgium, ADESA France, ADESA German, ADESA Italy, ADESA Netherlands, and ADESA Spain.
“We are already leveraging KAR’s reputation as our new parent company, and now, as a true ADESA brand, we can further advance our proven, profitable operating model,” said Johan Meyssen, CEO of ADESA Europe. “As ADESA Europe, we have the power to deliver seamless, convenient and connected services on a global scale and continue to drive growth and better serve our customers.”
ADESA Europe provides comprehensive, VAT-compliant payment, document transfer, and post-sale processes supporting the 97% of customer transactions that involve cross-border sales, according to the company.