FastLane will be the anchor asset for EBlock to expand its reach by enabling digital dealer-to-dealer buying and selling, positioning EBlock for further reach in the U.S. Midwest.
The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
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.
Digital transactions have grown tremendously at XLerate over the last five years, and digital is a key component of its omnichannel, go-to-market strategy.
This video analyzes fleet sales and acquisition trends month over month; flat PM costs as some fleets base oil drain intervals solely on mileage; replacement tire expenses remain flat but increased interest in retreads as a result of cash conservation initiatives; and an uptick in unnecessary idling due to field workers using vehicles for social distancing.
Management must develop remuneration policies and incentive plans encouraging procurement to cooperatively work with in-house fleet leadership to support attainment of larger strategic goals allowing fleet to cost-effectively fulfill its corporate mission.
Operating a cost-effective and efficient fleet often requires relying on the knowledge and expertise of fleet managers, but strategic direction from upper management also acts as a driving factor for such changes.
Surviving and thriving in the wake of a merger or acquisition requires communication, organization, and an keeping an open mind.
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