ADESA Launches "Off-Lease Exclusive" on ADESA.com

Rhea-AI Summary

ADESA, a unit of KAR Global (NYSE: KAR), has launched the 'Off-Lease Exclusive' feature on ADESA.com. This allows dealers early access to approximately 80% of North America's off-lease inventory, significantly enhancing their sourcing capabilities in a supply-constrained market. The feature includes a new search functionality with personalized alerts for fresh inventory. Listings will refresh daily and are available for a limited time. This initiative aims to streamline the acquisition process for dealers, offering over 60,000 additional vehicle listings daily.

Positive

• Launch of 'Off-Lease Exclusive' feature enhances dealer access to off-lease inventory.
• Dealers gain early access to approximately 80% of off-lease vehicles before public auctions.
• New functionality includes personalized alerts and an interactive instructional tour.
• ADESA.com hosts over 60,000 vehicle listings daily, increasing marketplace activity.

Negative

• None.

CARMEL, Ind., April 15, 2021 /PRNewswire/ -- ADESA, a leading provider of digital marketplaces for used vehicles, announces the launch of "Off-Lease Exclusive" on ADESA.com. ADESA is a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR). The new filtering and search functionality gives dealers one-click access to approximately 80% of North America's off-lease inventory days before it is available through any other auction.

"In today's supply-constrained market, dealers need a quick, easy way to source quality, late model, low mileage inventory," said John Hammer, chief commercial officer of KAR Global and president of ADESA. "Thousands of these cars become available every day—fresh off our commercial private label platforms and available only on ADESA.com. By using our new Off-Lease Exclusive functionality, we're giving franchise and independent dealers an early and exclusive opportunity to purchase the very best inventory out there before it goes to auction."

Buyers can instantly identify fresh, CPO-quality vehicles on ADESA.com by looking for the new teal-colored "star tag" icon on all Off-Lease Exclusive inventory. Off-Lease Exclusive listings are refreshed daily and available for only 24 to 48 hours depending on consignor. To make sure they don't miss out on desired inventory, dealers can utilize the site's integrated data-driven search functionality to set personalized alerts and in-app notifications. ADESA has also deployed new interactive technology within ADESA.com to help customers optimize the benefits of the Off Lease Exclusive functionality through an interactive, step-by-step instructional tour.

"This is just another way ADESA is innovating to make wholesale easy so our customers can be more successful," continued Hammer. "We hope ADESA.com and Off-Lease Exclusive help dealers save time and effort, secure the very best cars for their lots, and continue to meet the demand of their retail customers."

In addition to Off-Lease Exclusive inventory, ADESA.com also features over 60,000 commercial, dealer, fleet, rental and repossession listings each day and gives buying dealers seamless access to the company's live auction simulcast sales and run lists. The entire site is powered by ADESA's proprietary data analytics engine which provides customers with vehicle recommendations tailored to their specific dealership and local retail market conditions.

Current ADESA.com dealers can utilize the new Off-Lease Exclusive functionality the next time they log into the site. Dealers not currently transacting on ADESA.com can enroll by clicking the "REGISTER" button at www.adesa.com/off-lease.

KAR Contacts:
Media Inquiries:	Analyst Inquiries:
Jill Trudeau	Mike Eliason
(317) 796-0945	(317) 249-4559
jill.trudeau@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 3.1 million units valued at approximately $30 billion through our auctions in 2020. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in about 75 countries. Headquartered in Carmel, Indiana, KAR Global has employees across the United States, Canada, Mexico, Uruguay, U.K. and Europe. For more information and the latest KAR Global news, go to www.karglobal.com and follow us on Twitter @KARspeaks.

 

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SOURCE KAR Global

FAQ

What is the Off-Lease Exclusive feature on ADESA.com?

It is a new functionality that provides dealers with early access to approximately 80% of the off-lease inventory before it goes to auction.

How does the Off-Lease Exclusive feature benefit KAR (KAR Global) dealers?

It allows dealers to quickly source quality, late model, low mileage inventory, helping them meet customer demand efficiently.

When was the Off-Lease Exclusive feature launched on ADESA.com?

The feature was launched on April 15, 2021.

What types of vehicles are included in the Off-Lease Exclusive listings?

The listings primarily include fresh, certified pre-owned (CPO) quality vehicles.

How often are the Off-Lease Exclusive listings updated?

The listings are refreshed daily and are available for 24 to 48 hours.