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J.D. Power Buys NADA Used Car Guide
J.D. Power Buys NADA Used Car Guide
The National Automobile Dealers Association is selling its 82-year-old used car guide to to J.D. Power and Associates.
Deirdre Borrego, vice president of U.S. automotive operations at J.D. Power said: “The Used Car Guide will continue, and as the market itself grows, we see being able to develop new and unique information-based solutions for the industry.”
“The name and the brand and our logo — we’re going to use that for the foreseeable future,” Mike Stanton, COO of NADA Used Car Guide, told Automotive News. “All the blue and gold of NADA and the Used Car Guide stay. All of my folks still have their jobs, and they’re not moving out of the McLean, Va., area. So it’s business as usual, but our paychecks will come from a different place.”
A joint statement said the Used Car Guide name will be used by J.D. Power for an undisclosed period before transitioning to the J.D. Power brand.
Under the terms of the deal, NADA members will continue to receive a subscription to the guide as a membership benefit, NADA President Peter Welch said in the statement.
J.D. Power, a unit of McGraw-Hill Financial, is a global marketing information company. Its Power Information Network provides real-time automotive information based on the collection of daily new- and used-vehicle retail transactions.
NADA and J.D. Power already share data and co-host conferences and industry events.
Borrego and Stanton have worked closely together for the past five to six years, they said. They realized there were many shared synergies.
“Both J.D. Power and Used Car Guide are looked at as objective benchmarks,” Borrego said. “As we started looking at our respective analytical teams, the clients that we serve and the information we have, we thought if you can put the new-car market that we serve and the used-car market they serve together, it would offer a seamless comprehensive solution.”
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