The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
The data is available by subscription on the autoniq app and showcases information on similar year, make, and model vehicles sold at auction.
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.
Velocicast technology fortifies simulcast capabilities and enhances customer experience.
KAR Global is halting physical sale operations across North America at all ADESA locations, and includes Simulcast-only sales for at least the next two weeks.
KAR Global is immediately transitioning to Simulcast-only sales at all U.S. and Canada ADESA auction locations until further notice as the coronavirus pandemic continues to evolve, according to KAR Auction Services.
The values of vehicles sold at ADESA auctions from fleet consignors fell 0.6% to $13,309 in October but remain 2.4% higher from a year ago, according to Tom Kontos, KAR Global's chief economist.
The value of former fleet vehicles sold at physical auctions and through other wholesale channels fell 1.6% in September compared to August but were 0.9% higher than a year ago, according to commentary by KAR Global's chief economist.
Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
Used vehicles from fleet consignors in ADESA sales increased 4.3% to $13,771 in April compared to March, and were up 4.4% from a year ago, according to monthly commentary from Tom Kontos.
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