Yesterday, KAR Auction Services became KAR Global. As a company, we’ve come a long way since KAR first came together in 2007. And this change marks the next phase of our evolution.
More than ever before, we live in a global economy, with global customers. And that’s where KAR Global starts: as a reflection of our ever-expanding geographic footprint. Our acquisition earlier this year of CarsOnTheWeb (now ADESA Europe) was both a bright line and a promise: we’re evolving with our customers to offer a global solution.
But KAR Global is more than just geography; it’s our vision of who we’ve become and where we’re going. It’s an homage to our evolution to a more modern, data-driven and technology-enabled company. Every day, we leverage our industry-leading data engine to deliver actionable intelligence about how to price vehicles on which channels, and for dealers, recommendations on which vehicles to purchase. And with innovative technologies like ADESA Simulcast, ADESA VirtuaLane® and TradeRev’s real-time auction marketplace, we provide flexibility so customers can buy and sell anytime, anywhere, on any channel.
Setting the bar higher, every day, is a fundamental part of the KAR Global ethos: How can we better serve our customers? What new solution can we offer that solves a pain point or offers a new advantage in the marketplace? We thrive on the challenge, but we delight in delighting our customers.
Auctions will always be at the heart of vehicle remarketing. They’re part of our history—some of our auctions go back more than 70 years—and also part of our future. But as the world around us changes and adapts to new technologies and more sophisticated analytics, it’s no longer enough to be just an auction services company. KAR Global is a gentle nod that in today’s world, we have to be more: we have to disrupt ourselves, or get disrupted. We have to embrace our entrepreneurial roots, and be bolder than ever.
I’ve never been prouder of our company, or more excited about what the future holds for our customers.