KAR Auction Service, an auto auction and remarketing company, currently operates within 75 different countries, but the majority of their focus is within the United States and North America.
Last year, the automotive marketplaces that make up the KAR Auction Services group sold more than 3.4 million vehicles for a total value of more than $40 billion, generating $2.44 billion in revenue. More than half the transactions are executed online. In recent years, the group has been bringing to bear its size and expertise in Europe.
In mid-2015, KAR acquired HBC Vehicle Services, a salvage vehicle auctions specialist located near London. In 2016 KAR acquired GRS Remarketing, an online whole car auction company located in Chester. The latter company was renamed ‘ADESA UK’, after the KAR brand that provides wholesale vehicle auction solutions to professional car buyers and sellers in North America. KAR’s first foothold in Europe was tasked with bringing the parent company’s remarketing capabilities to the UK.
KAR’s next major foray in Europe was finalised in January 31 of this year, with the acquisition of Belgium-based CarsOnTheWeb (COTW). A robust online wholesale vehicle auction marketplace, COTW – now ADESA Europe - connects OEMs, fleet owners, wholesalers and dealers in more than 50 countries, mainly in continental Europe.
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