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J.D. Power is buying Autovista Group which operates Autovista, Eurotax, Glass’s, Schwacke and Rødboka—Autovista brands.
The US data giant said the acquisition complements J.D. Power’s strengths in vehicle valuation and detailed vehicle specification data and analytics while broadening its footprint into the European and Australian automotive markets.
“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.”
“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.”
Autovista Group is currently owned by Hayfin Capital Management, a leading European alternative asset management firm.
The acquisition of Autovista Group is expected to close by the end of 2023 and is subject to customary closing conditions as well as regulatory review and approval.