KAR Global Launches Enhanced Condition Reports for BacklotCars

Rhea-AI Summary

KAR Global (NYSE: KAR) has enhanced its BacklotCars platform by introducing new condition reports developed in collaboration with Thoughtworks (NASDAQ: TWKS). These features include engine audio recordings and aim to improve customer experience by providing more accurate and consistent vehicle condition information. The initiative focuses on offering a transparent and trustworthy inspection process, helping sellers accelerate sales while ensuring buyers receive comprehensive information about vehicle conditions. This partnership is expected to streamline operations and enhance digital experiences for dealers.

Positive

• Introduction of enhanced condition reports on BacklotCars platform.
• Collaboration with Thoughtworks to improve accuracy and transparency.
• New features include engine audio recordings for better inspection.
• Streamlined reporting ensures consistency across various vehicle conditions.

Negative

• None.

Collaboration with Thoughtworks Expands Capabilities, Accuracy and Transparency

CARMEL, Ind. and CHICAGO, May 24, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, unveils enhanced condition reports on the company's BacklotCars platform. To develop and deploy these new capabilities, BacklotCars collaborated with Thoughtworks (NASDAQ: TWKS)—a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. The new features—which include engine audio recordings—are aimed at further strengthening the BacklotCars customer experience through more accurate, more consistent and easier to understand condition reports.

"Vehicle buyers want increased consistency, accuracy, trustworthiness and reliability in the inspection process, and this highly-innovative iteration simulates seeing and hearing a vehicle in person," said Josh Parsons, chief operating officer of BacklotCars. "Thoughtworks helped us combine the best features and functionality of the BacklotCars and CARWAVE inspection frameworks while identifying areas to streamline across the platforms. The result is a single, enhanced condition report framework that accelerates sales for sellers and provides buyers with comprehensive condition information that is easy to understand."

The collection of new features on the inspection report was also streamlined in order to help ensure the consistency of information displayed for buyers across a wide range of vehicle conditions, ages and mileages.

"We are excited to partner with BacklotCars on its journey to revolutionize wholesale automotive with next-generation digital experiences for its dealers," said Chris Murphy, chief executive officer, Thoughtworks North America. "The expanded digital inspection process will help the company operate more efficiently while helping dealers make the most informed buying decision possible."

Focused on making wholesale easy so dealers can be more successful, BacklotCars is dedicated to providing top-tier technology, a fully transparent bidding environment, condition reports based on independent mechanical inspections and leading digital capabilities. Learn more about BacklotCars here.

KAR Media Inquiries:	KAR 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. 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, Europe and the Philippines. For more information and the latest KAR Global news, go to www.karglobal.com and follow us on Twitter @KARspeaks.

Thoughtworks Media Inquiries:
Linda Horiuchi
(646) 581-2568
linda.horiuchi@thoughtworks.com

About Thoughtworks
Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 10,000+ people strong across 49 offices in 17 countries. Over the last 25+ years, we've delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kar-global-launches-enhanced-condition-reports-for-backlotcars-301552868.html

SOURCE KAR Global

FAQ

What new features were introduced by KAR Global for BacklotCars?

KAR Global introduced enhanced condition reports that include engine audio recordings to improve the accuracy and consistency of vehicle inspections.

Who partnered with KAR Global to enhance BacklotCars?

KAR Global collaborated with Thoughtworks to develop the new features for BacklotCars.

When was the enhancement of BacklotCars condition reports announced?

The enhancement of BacklotCars condition reports was announced on May 24, 2022.

How do the new features benefit buyers on the BacklotCars platform?

The new features provide buyers with more accurate and comprehensive condition information, making their purchasing decisions easier.