Integration of BacklotCars and CARWAVE Provides Dealers the Best of Both Offerings
KAR Auction Services, Inc. d/b/a/ KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the integration of CARWAVE and BacklotCars. The single digital platform is now hosted on BacklotCars and brings together the best of both offerings by adding a live auction combined with a 24/7 marketplace. The new offering provides dealers more flexibility in the way they want to transact. Buyers have expanded access to more diversified inventory, while sellers can tap into the power of a broader buyer base.
“We combined the very best of both platforms onto BacklotCars. In doing so we expanded access to inventory for buyers, increased visibility on sellers’ vehicles and provided a more simplified customer experience,” said Peter Kelly, chief executive officer of KAR Global. “We worked closely with dealers to understand what they value most, and incorporated their feedback so that we continue to meet the needs of dealers in every market. I am excited to see the increased traction that is being created and we look forward to rolling this capability out across the U.S. in 2023”.
The new auction sale type is being offered to sellers in California and buyers in nearby areas, and will expand to customers in other regions in the coming months. BacklotCars currently runs live auctions on Mondays and Thursdays.
“Our teams worked tirelessly to ensure the transition was frictionless—providing our dealers with resources to ensure total support from day one,” said Justin Davis, president of BacklotCars. “In addition to the choice of sale types for our dealers, our KAR Global network also provides access to a dynamic transportation network and floorplanning solutions with industry-leading rates.”
KAR Global is committed to growing in the digital dealer-to-dealer segment as it strives to build the world’s greatest digital marketplace for used vehicles. For more information about BacklotCars, click here.