CarsArrive Network Acquires Dependable Auto Shippers Business
Deal Extends KAR’s North American Vehicle Shipping Platform to Growing Consumer Market Segment
CARMEL, Ind. – May 17, 2017 – KAR Auction Services, Inc. (NYSE: KAR), today announced that its CarsArrive Network (CarsArrive) subsidiary has acquired the vehicle transportation business of Dependable Auto Shippers (DAS). CarsArrive is the world’s only fully automated used vehicle hauling solution with more than two million vehicles delivered each year. The addition of DAS will extend CarsArrive’s transportation and logistics solutions into the growing consumer market segment.
“CarsArrive has developed a leading portfolio of products and services that help dealers, wholesalers, fleet managers and other commercial customers ship their vehicles safely and efficiently,” said Michael Briggs, president and CEO of CarsArrive and Recovery Database Network, Inc (RDN). “We are excited to bring our strong history, expertise and commitment to quality and service to meet the vehicle shipping needs of consumers.”
Online vehicle purchasing, particularly dealer-to-consumer transactions, has generated increased consumer demand for vehicle transportation and logistics services. Additionally, consumers are looking for dependable vehicle logistics solutions for relocations and other personal vehicle transportation needs. CarsArrive currently delivers vehicles to private homes on behalf of selling dealers, but with the addition of DAS, will extend their integrated network to serve consumers directly.
“If there’s a vehicle to be moved in any channel for any customer, CarsArrive wants to be there to move it,” said Briggs. “Consumer-centricity is the next phase in our evolution, and we’ll bring the strength and confidence of the entire KAR platform to help us deliver value, convenience and exceptional service.”
CarsArrive Network provides an online marketplace where shippers and carriers come together and conduct business in a trusted and secure environment. Their North American network of automated vehicle transport services includes more than 4,500 registered carriers representing over 30,000 trucks.
About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used-vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of approximately 5.1 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 110 countries. Headquartered in Carmel, Ind., KAR has approximately 17,400 employees across the United States, Canada, Mexico and the United Kingdom. www.karauctionservices.com.