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 online product simulates the competitive live auction environment in a fully digitized, highly automated, live streaming format.
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The mobile experience makes it simpler and easierto access and participate in live, auctioneer-led sales from any location.
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The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
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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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A simple camera system enables auction operations and dealers to market and sell vehicles at any point after a quick 360-round photo session.
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The new inspection solution provides a more efficient process for clients to assess a vehicle’s exact condition before making listing and buying decisions.
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As more auto dealers try to save time and increase margins through digital wholesale transactions, Fyusion Technology is providing imaging for a more transparent, lower risk buying experience.
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In 2020 Ritchie Bros. has seen website traffic increase by 35% to more than 27 million visits, while bidder registrations are up 71% to over 817,000 registrations.
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KAR Auction Services has acquired BacklotCars, expanding the auction company’s digital transformation strategy with the new digital dealer-to-dealer platform.
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