KAR Auction Services recently announced that the company will now be called KAR Global.
The rebranding follows years of expansion, both geographically across North America and Europe and in terms of the services the company provides, thanks to its acquisitions and technological development.
Those purchases include the online sales (CarsOnTheWeb, TradeRev), data science/analytics (DRIVIN), recovery management (Clearplan) and mobility fleet services spaces (STRATIM).
As chairman and chief executive officer Jim Hallett put it, KAR goes well beyond “auction services” these days.
And well beyond North America or even the UK, as the recent acquisition of Belgium-based CarsOnTheWeb (which was rebranded as ADESA Europe in June) gave KAR an “anchor” in Continental Europe.
“At KAR, we have a fast, fearless and entrepreneurial culture, and we’ve been pioneers in the auction business for decades,” Hallett said in a news release. “But we’re a lot more than just ‘auction services.’
“We’re rethinking and reimagining remarketing for our diverse sellers and buyers across the automotive sector. These global customers want global solutions — and that’s what KAR Global delivers,” he said.
When asked in a phone interview if there was an, “aha moment” where leadership realized KAR needed to rebrand, Hallett said the company began thinking about that about three years ago.
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