KAR Acquires European Auction Company
KAR Auction Services announced the acquisition of CarsOnTheWeb, a Belgium-based auction and transportation provider.
Belgium-based CarsOnTheWeb is now a wholly-owned subsidiary of KAR Auction Services.
CARMEL, Ind. — KAR Auction Services Inc. has acquired Belgium-based CarsOnTheWeb, the company announced. The move advances KAR’s international strategy and extends its North American and U.K.-based portfolio to Continental Europe, according to Benjamin Skuy, KAR’s executive vice president for international markets and strategic initiatives.
“Now part of the KAR family, CarsOnTheWeb will help fuel our continued international growth with the power to deliver innovative, digitally connected services to our global customers,” Skuy said. “CarsOnTheWeb is already the leading cross-border automotive remarketing platform in Continental Europe. And together with KAR’s technology, data, ancillary service capabilities and strong industry relationships, we will lead and accelerate the evolution of the European marketplace.”
COTW operates an online wholesale vehicle auction marketplace that connects OEMs, fleet owners, wholesalers and dealers in more than 50 countries. With sales operations in Belgium, France, Germany, Italy, the Netherlands, and Spain, COTW provides sellers in these countries and buyers across Europe with a range of vehicle auction, transportation and related services. COTW will operate as a wholly-owned subsidiary of KAR and will retain its current operating locations, employees, and key leadership and management team members, all according to the announcement.
Originally posted on Auto Dealer Today
More Showroom
Making the Safe Choice
Kelley Blue Book has turned households with teen drivers onto safe and affordable options for their vehicles of choice
Read More →
Inventory Holds Steady
September new-vehicle inventory rose slightly month-over-month, but dealer lots are laden with MY2026 vehicles as the typical model year changeover trudges along.
Read More →
October Auto Sales Fall With the Leaves
A forecast anticipates retail deliveries are down this month as consumers continue to face cost challenges, though more are tapping long loans in order to buy.
Read More →
California Sees Quarterly Gains
California’s new-vehicle market saw a boost in hybrids in the third quarter and its first overall quarterly market gain of the year.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →