By Dave Bean, FMW Associate Editor
September 13, 2023
J.D. Power (JDP) bolstered its already robust data and analytics business by agreeing to procure European and Australian automotive data provider Autovista Group. While Autovista’s strong suit is in automotive industry insights, J.D. Power’s is in vehicle valuation and vehicle spec data.
The union enhances JDP’s position within the world of overall vehicle analytics providers, affording clients more wide-ranging solutions, all the while expanding its reach into Europe and Australia. All facets of the automotive industry – including manufacturers, dealers, insurance companies and financial entities – can potentially benefit from the enhanced ability to better predict trends, revise sales approaches, and utilize data derived in real-time.
“Precise vehicle valuations and detailed vehicle specifications are the central underpinning to every data-driven strategy in the automotive industry—from optimizing vehicle production to calculating residual values to all manner of insurance—and finance-related risk assessment and repair models, and the combined assets of J.D. Power and Autovista Group will create truly comprehensive, global valuation and forecasting solutions,” said Dave Habiger, President and CEO at J.D. Power. “Additionally, as U.S. consumers increasingly adopt the European model of configuring and ordering a custom vehicle specification, rather than picking whatever the dealer has on the lot, Autovista’s detailed, vehicle-specific data and analytics will give OEMs critical information they need to navigate this change in consumer behavior. We are excited for the Autovista team to join J.D. Power and for the future growth opportunities we will pursue together.”
Currently, Autovista Group benchmarks and organizes data on practically all vehicles manufactured in Europe and Australia. This allows its clients the ability to better pinpoint vehicle appraisals, whether for remarketing or replacement, as well as develop predictive maintenance projections in terms of both cost and scheduling.
“The global automobile industry is undergoing a historic transformation in which an ever-increasing array of models and fuel types, volatile swings in used car values and lingering supply chain challenges are making it more difficult than ever to project future value and understand total cost of ownership,” said Lindsey Roberts, CEO at Autovista. “By pairing our leading pan-Europe- and Australia-focused datasets with J.D. Power’s robust North American and Asian market data, analytics and insights, we are creating the truly global solution the industry needs to manage through this period of radical change.”
J.D. Power will absorb Autovista Group’s executive management team, as well as hundreds of its critical employees, thus becoming JDP’s de facto automotive and analytics division in both Europe and Australia. The deal is slated to be finalized by the end of the year. For more on the acquisition, click here.
