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Thursday, 30 July 2020 21:09

ADESA Hosts 22-Site Digital Sale for Hertz Via Simulcast+

Written by Auto Remarketing staff
KAR Global CEO Jim Hallett. KAR Global CEO Jim Hallett. Photo courtesy of company

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ADESA used its Simulcast+ digital auction platform last week to host a 22-site online sale on behalf of The Hertz Corp., selling cars digitally to buyers in 19 states during this single digital auction event.

The Simulcast+ platform, which ADESA first began using in April, is a new digital auction platform designed to simulate a live auction environment through a live streaming format that’s fully digitized and highly automated, parent company KAR Global said in a news release.

 

Through this technology, vehicles can be sold digitally from auctions, distribution center, dealerships or multiple locations.

 

“We launched Simulcast+ months ahead of schedule to support our customers during the COVID-19 lockdowns, and it has grown exponentially since then,” KAR chairman and CEO Jim Hallett said in a news release.

 

“It’s faster than a physical auction, it’s safer than a physical auction and it allows sellers and buyers to participate in live auctions anytime, anywhere,” Hallett said.

 

“Last week’s successful Hertz sale reinforces Simulcast+ as the premier solution to effectively remarket inventory from multiple locations and reach a broad, highly engaged national buyer base.”

 

Since ADESA first began employing Simulcast+, it has used the technology in more than 400 auction events, with more than 11,000 buying dealers participating and making over 400,000 bids. There have been tens of thousands of digital sales through this platform during that time, KAR said.

 

KAR said the results from Simulcast+ sales tend to align with those from physical auctions, but they generate an average of 20% more bids per vehicle than auctions using the standard Simulcast platform.

 

The company said several of its commercial OEM and financial institutions have prioritized using Simulcast+. KAR said several large dealer groups are turning to the platform for open and closed sales within their networks.


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