Impact Auto Auctions Enhances Industry-Leading Online Auction Platform
Published June 5, 2019 - Written By Impact Auto Auctions Ltd.
Mississauga, ON, – June 5, 2019 – Impact Auto Auctions Ltd., a subsidiary of Insurance Auto Auctions (IAA) and a business unit of KAR Auction Services Inc. (NYSE: KAR), announces new features to Impact AuctionNow™ its online vehicle auction platform. The redesigned interface offers buyers the ability to create their own customizable, unique bidding experience, resulting in convenience and data that make purchasing a vehicle easier.
Enhanced features include:
New auction viewing options
Buyers can now view and participate in unlimited number of auctions on the same page view, while using enhanced filters to find vehicles quickly.
New bidding features
Buyers can now bid with a single click with the new ‘jump bid’ option. Buyers can also now set-up an ‘auto-bid’ function for a vehicle before it goes on the block or queue future bids so they never miss a buying opportunity.
Enhanced auction reminders
Buyers will never miss another auction with the ‘follow auction’ button. Reminders help buyers better manage their time and ensure they can bid on the inventory they need most.
Impact AuctionNow™ was designed to meet the unique needs and buying preferences of all our buyers,” said Blair Earle, managing director at Impact. “It is a one-of a kind platform in the industry that includes value-added features to reduce buying cycle times. We can now cater to our high-volume buying participants as well as those simply looking for a unique vehicle.”
Impact Auto Auctions is the leading Canadian salvage auto auction with the largest facility footprint, serving the automotive total-loss industry with more than 14 facilities across Canada. Impact Auto Auctions provides a marketplace for the sale and purchase of high-mileage, aged or damaged insurance, rental, fleet, lease, finance, dealer, manufacturer and charity vehicles.
SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward looking statement to reflect new information or events, except as required by law.
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