KAR Launches Future of Online Car Sales as ADESA Europe

CARMEL, Ind., June 26, 2019 /PRNewswire/ -- KAR Auction Services Inc. (NYSE: KAR), a global vehicle remarketing and technology solutions provider, launches its ADESA Europe digital auction, a rebranding of Belgium-based CarsOnTheWeb (COTW). Acquired by KAR in February 2019, COTW is now fully integrated into the KAR family. The ADESA Europe brand extends the KAR family of companies' international name recognition and reputation beyond North America and the U.K. to Continental Europe. ADESA Europe will continue to provide COTW customers a robust online wholesale vehicle auction marketplace that seamlessly connects OEMs, fleet owners, wholesalers and dealers in more than 50 countries.

"ADESA already has strong brand recognition across North America and the U.K., and CarsOnTheWeb is Continental Europe's leading cross-border automotive remarketing platform," said Benjamin Skuy, KAR's executive vice president for international markets and strategic initiatives. "There is no better way to fully welcome CarsOnTheWeb to the KAR family than by extending the ADESA brand to all of Europe. Backed by KAR's auto tech, data, ancillary service capabilities and strong industry relationships, ADESA Europe will lead and accelerate the evolution of the European marketplace."

The ADESA Europe brand will extend to each of the local markets where it has sales operations as ADESA Belgium, ADESA France, ADESA Germany, ADESA Italy, ADESA Netherlands and ADESA Spain.

"We are already leveraging KAR's reputation as our new parent company, and now, as a true ADESA brand, we can further advance our proven, profitable operating model," said Johan Meyssen, CEO of ADESA Europe. "As ADESA Europe, we have the power to deliver seamless, convenient and connected services on a global scale and continue to drive growth and better serve our customers."

ADESA Europe provides sellers and buyers across Europe with a wide range of vehicle auction, transportation, finance and related support services. The company's online and mobile tools are available in 19 languages and deliver real-time search, bid, payment and logistics scheduling functionality. ADESA Europe provides comprehensive, VAT-compliant payment, document transfer and post-sale processes supporting the 97% of customer transactions that involve cross-border sales.

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 six 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 more than 130 countries. Headquartered in Carmel, Ind., KAR has more than 18,000 employees across the United States, Canada, Mexico and Europe. For more information go to www.karauctionservices.com. For the latest KAR news follow us on Twitter @KARspeaks.

SOURCE KAR Auction Services Inc.

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http://karauctionservices.com/