KAR, Black Book Expand Partnership

By Staff Writer October 20, 2021

KAR Global and Black Book have expanded their relationship in order to help franchise and independent car dealers, OEMs, and third-party providers deliver a faster and more digital experience to their retail consumers. By integrating Black Book’s VIN decoding and pricing algorithms with KAR’s digital capabilities, industry-related companies of any size will be able to deliver instant, VIN specific guaranteed trade-in values to consumers via their own website or mobile app. The relationship will also leverage KAR’s rapidly growing digital dealer-to-dealer marketplace, BacklotCars, to help dealers wholesale any unwanted trade-in inventory that results from those retail sales.

“Today’s retail consumers want a more digital car buying experience, and KAR is uniquely positioned to help dealers deliver on those expectations,” said Peter Kelly, CEO of KAR Global. “Together with Black Book, we can provide dealers with AI-driven pricing tools that allow them to make firm, accurate and real-time offers on consumer trades. By guaranteeing those prices, we de-risk the trade-in process so dealers can focus on and accelerate their retail transactions. And for those unwanted trade-ins that aren’t the right fit, we’ll provide near-instant liquidity by launching those vehicles on BacklotCars directly from the dealer’s lot.”  

With just the vehicle VIN or license plate, companies will be able to quickly make trade-in offers while alleviating risk and protecting their margins.

The partnership builds upon Black Book’s longstanding relationship with KAR Global, including ADESA, KAR’s flagship digital marketplace that supports more than 70,000 marketplace participants each year.

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Last modified on Friday, 22 October 2021 16:33