J.D. Power Buys Used Car Data

Automotive research specialist J.D. Power has agreed to acquire the Used Car Guide business of the National Automobile Dealers Association (NADA), a long-established source of data on used vehicle values.

The transaction is expected to close early in the third quarter and is subject to legal review. J.D.Power says it will continue with the current brand name for the Guide for 'a period of time' before transitioning it to its own brand.

Inaugurated as long ago as 1933, NADA's Used Car Guide gives data on US retail, loan, trade-in and auction used-vehicle values, is based in McLean, Virginia, and serves more than 100,000 subscribing clients mostly in the financial, retail and software sectors.

Data from the Guide will now be integrated with that from the research firm's Power Information Network (PIN), which provides real-time automotive information and decision-support tools based on the collection of sales and pricing data from daily new and used vehicle retail transactions. The firm says this will allow it to extend its analytical and modeling capabilities into new product offerings, deepen its presence in auto finance and auto insurance, and enrich its range of retail solutions.

Douglas L. Peterson, President and CEO of J.D. Power parent McGraw Hill Financial, comments: 'Benchmarks are a key to the McGraw Hill Financial business model and the NADA Used Car Guide adds a unique set of valuations, which are used as benchmarks by customers, to the well-respected J.D. Power portfolio'. Peterson also foresees 'clear opportunities for both revenue and cost synergies'.

Peter Welch, President of NADA, says the organisation's members will continue to receive a subscription to the Guide as a membership benefit, while the two firms will 'continue to build upon our longstanding alliance' through the sharing of insight, hosting of events and launch of new solutions.

J.D. Power is headquartered in Westlake Village, CA and has offices in North and South America, Europe and Asia Pacific. Web sites are at www.jdpower.com and www.nada.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.