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KAR Launches State-of-the-Art Data Science Pricing Tool for Commercial Consignment Customers

Friday, June 7, 2019   (0 Comments)
Posted by: Sandy Thomas
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KAR Auction Services Inc. (NYSE: KAR) launches its DRIVIN-powered Pricing Insights, a robust, data-driven solution that helps commercial consignors maximize the net economics of their portfolios through optimized pricing. This newest product in the DRIVIN Insights™ Product Suite of portfolio management solutions uses proprietary, state-of-the-art data science algorithms to produce predictive models for determining VIN-level market channel and pricing. These uniquely-tailored analytics and valuations can help consignors achieve targeted conversion rates and remarketing financial objectives — whether the primary goal is to increase upstream conversion, increase overall net economics or both.

“Pricing Insights has achieved proven results for a number of our commercial consignors,” said Don Gottwald, president of KAR digital, data and mobility solutions. “By customizing the solution for each consignor and its brands, we have achieved a $170 per-unit net economic gain overall — potentially creating more than $86 million in annualized value for those customers.”

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