Global data analytic provider J.D. Power announced a definitive agreement to acquire Autovista Group, a pan-European and Australian automotive data, analytics and industry insights provider. The acquisition will complement 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, the company said.
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.
The companies’ highly complementary offerings “will give original equipment manufacturers (OEMs), dealers, insurers and financing companies a truly global view of critical trends influencing the industry, along with the tools they need to accurately forecast risk, capitalize on burgeoning trends and align sales strategy with real-time market dynamics,” JD Power said.
“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,” Habiger added.
