There’s no doubt the remarketing industry is facing digital disruption, and has been for the last few years. The 2020 pandemic has forever changed how dealers buy and sell cars. But at KAR Global, we think of the shift to dealer-centric digital platforms as a transformative opportunity rather than a disruption. Being on the leading edge of what the “new normal” will look like in the automotive industry for inventory solutions is one of the biggest obligations we have on the road ahead. That’s positively exciting.
When an industry experiences the opportunities of disruption, its stakeholders must pay attention and move decisively in order stay ahead of the change. The consequences are dire for companies that don’t — have you seen a Blockbuster video store lately? Clearly, they missed the opportunity to buy Netflix and stay ahead of the digital disruption that redefined home entertainment as we know it. Businesses and entrepreneurs must do the hard work that sometimes requires them to reorganize or reinvent themselves to meet changing customer demands. KAR Global has accepted the challenge of disruption head-on by adding value to its customers through its digital platforms and assets.
As KAR Global customers adjust to market changes, meeting the demands of our dealers and consignors will be the guiding principles that inform our technology shifts and pivots. The need for simplicity and trust in KAR Global products and services is paramount, whether that’s in-lane or online. Anything we can do to deliver simplicity and seamlessness in the wholesale user experience will help our customers, on both the purchase and the sale side of the transaction. We continue to develop and roll out new features to our buying and selling experiences, such as introducing single sign-on integration between ADESA.com/ADESA.ca and TradeRev, and our remote seller dashboard.
We also see opportunities in the dealer-to-dealer sales space. There’s an old adage among car dealers: “You make your money when you buy a car, not when you sell it.” This still rings true today, as TradeRev’s digital platform helps dealers win more used-car auctions beyond the boundaries of their physical space. TradeRev is expanding access to inventory and giving rise to efficiencies for our valued customers.
Additionally, the services we offer at our physical locations — inspections, reconditioning, detailing, PDR, key replacement, transportation, security and storage — play an incredibly vital role in the remarketing business and only add to KAR Global’s value proposition. As digital and online technologies accelerate and enhance the fundamentals of our brick and mortar locations, KAR Global, TradeRev and ADESA see the synergy between digital technologies and our physical location network as essential. The key is to make the integration of our digital sales platforms and the services at our physical locations complementary and seamless.
As KAR Global continues its commitment of leadership to the remarketing industry and the dealer-to-dealer community, serving the needs of its customers is priority number one. Leading the narrative by accelerating the digital transformation ahead of others is what uniquely positions KAR Global and its customers for future success. Helping customers win by leading from the front is at the very heart of this transformative opportunity. Buckle up — it’s going to be a great ride.
The opinions expressed in the Go Digital series are the opinions of the authors only and not those of KAR Global.