CARMEL, Ind., June 16, 2020 /PRNewswire/ -- KAR Auction
Services, Inc. d/b/a KAR Global (NYSE: KAR), a global vehicle
remarketing and technology solutions provider, announces the launch
of the company's new buyer and seller insights available on
KARglobal.com. The site is powered by DRIVIN®, KAR's data science
and analytics engine, and features interactive dashboards
displaying retail and wholesale trends from across the remarketing
ecosystem. The insights were developed using DRIVIN's proprietary
algorithms and KAR's broad portfolio of retail, wholesale and other
industry, economic and behavioral data sources. Originally intended
for internal use, the company is making this real-time information
public to help customers navigate the ongoing recovery and keep
their businesses moving forward.
"KAR wants our wholesale customers to make the best, most
informed buying and selling decisions possible," said Peter Kelly, president of KAR. "There's a lot of
data floating around out there—but it doesn't have any real value
if it's not actionable. We've distilled our insights down to
several key state and national metrics to help customers determine
where there is buyer demand, where there is seller inventory and
which markets are the most vibrant and active at any given
time."
The site's interactive maps and graphs allow users to view
state- and date-specific statistics, or to animate aggregate trends
over time. Retail used vehicle insights include average days of
used vehicle supply, retail used vehicle listings and sales as well
as a comparison of 2020 inventory to 2019 levels. Wholesale
insights focus on buyer engagement, displaying both aggregate and
state-level buyer activity versus 2019 levels. Each dashboard
includes a brief description of how to view, interpret and use the
data displayed, and a more detailed how-to guide is also available
through the site.
"Data science and analytics are the backbone of KAR Global's
progressive technology infrastructure," said Tom Fisher, chief digital officer of KAR. "By
leveraging our exclusive upstream closed channel data representing
80% of North America's off-lease
inventory, our insights provide the most comprehensive picture of
market activity possible. We hope the simplicity and power of these
insights help our customers in the weeks, months and years to
come."
The current suite of dashboards is updated weekly and provided
free of charge to all KAR Global website visitors. The company
intends to supplement the site with additional tools and insights
over the next several months. The new KAR Global insights page can
be accessed directly at www.karglobal.com/dashboards.
KAR
Contacts
|
|
Media
Inquiries:
|
Analyst
Inquiries:
|
Tobin
Richer
|
Mike
Eliason
|
(317)
249-4521
|
(317)
249-4559
|
tobin.richer@karglobal.com
|
mike.eliason@karglobal.com
|
About KAR
KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR),
provides sellers and buyers across the global wholesale used
vehicle industry with innovative, technology-driven remarketing
solutions. KAR Global's unique end-to-end platform supports whole
car, financing, logistics and other ancillary and related services,
including the sale of nearly 3.8 million units valued at
approximately $40 billion through our
auctions in 2019. Our integrated physical, online and mobile
marketplaces reduce risk, improve transparency and streamline
transactions for customers in more than 80 countries. Headquartered
in Carmel, Indiana, KAR Global has
employees across the United
States, Canada,
Mexico, U.K. and Europe. For more information and the latest
KAR Global news, go to www.karglobal.com and follow us on Twitter
@KARspeaks.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/kar-global-launches-interactive-insights-for-buyers-and-sellers-301077995.html
SOURCE KAR Global