Global data analytics and consumer intelligence leader, J.D. Power, announced its strategic expansion into the European and Australian auto markets with the acquisition of Autovista Group, a prominent provider of automotive data, analytics, and insights. The transaction, slated for completion by year-end, will see ownership of Autovista transferred from Hayfin Capital Management to J.D. Power.
This pivotal acquisition will facilitate the amalgamation of J.D. Power’s predictive analytics, valuation, and customer experience data sets with the market intelligence provided by Autovista in Europe and Australia. While J.D. Power has previously undertaken automotive and banking studies in these territories, this move signifies its inaugural foray into offering data and analytics products to automakers within these markets.
J.D. Power’s president and CEO, Dave Habiger, underscored the importance of this acquisition in a press statement. He highlighted that accurate vehicle valuations and intricate vehicle specifications form the backbone of all data-driven strategies within the automotive sector. Habiger elaborated that the integration of J.D. Power and Autovista Group’s resources would culminate in a comprehensive, global solution for valuation and forecasting, indispensable for optimizing vehicle production, determining residual values, and evaluating insurance and finance-associated risks and repair models.
The acquisition is particularly timely, given the shifting preferences of U.S. consumers towards the European model of customizing and ordering vehicle specifications, as opposed to selecting from existing dealer inventory. Habiger pointed out that the granular, vehicle-specific data and analytics offered by Autovista would equip Original Equipment Manufacturers (OEMs) with the vital information required to adeptly navigate this evolution in consumer preferences.
Comprising five distinct brands, Autovista, Eurotax, Glass’s, Schwacke, and Rødboka – Autovista Group leverages these entities to standardize and categorize a multitude of technical attributes for almost every vehicle manufactured in Europe and Australia. Post-acquisition, the company’s senior leadership, and workforce of 700 will be retained, with Autovista being integrated as J.D. Power’s automotive data and analytics platform for Europe and Australia. Lindsey Roberts, the current CEO of Autovista, will assume the role of president of J.D. Power Europe, reporting directly to Habiger.
Acknowledging the myriad challenges confronting the global automotive industry, including the diversification of models and fuel types, fluctuating used car values, and persistent supply chain hurdles, Roberts expressed confidence that the collaboration would yield a holistic solution. She noted that the fusion of Autovista’s pan-European and Australian datasets with J.D. Power’s comprehensive North American and Asian market data, analytics, and insights would result in a global solution indispensable for navigating this era of profound transformation.
Both entities expressed enthusiasm for the collaborative growth opportunities that lie ahead, which will solidify their standing as global frontrunners in automotive data, analytics, and insights.
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