If you’ve been reading rumors of Kelley Blue Book’s future pointing toward extinction, then have no fear because that’s simply not true.  AutoTrader.com is taking over, but isn’t kicking your faithfully reliable KBB to the curb.

AutoTrader.com, the Internet’s leading automotive marketplace and consumer information website, announced yesterday the completion of its transaction to acquire Kelley Blue Book (www.kbb.com), the leading provider of new car and used car information.

As announced previously, AutoTrader.com strongly believes in and will be maintaining Kelley Blue Book’s independent and unbiased position in the marketplace.  Furthermore, AutoTrader.com is committed to maintaining and strengthening Kelley Blue Book’s role as The Trusted Resource for vehicle valuation and other important information consumers, dealers, manufacturers, financial and governmental institutions rely upon.

“Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers,” said AutoTrader.com President and CEO Chip Perry.  ”And as we look into the future we believe AutoTrader.com and Kelley Blue Book can together bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers and help auto dealers and manufacturers better capitalize on the fundamental marketing efficiencies provided by the Internet.”

With innovative marketing tools and one of the largest audiences of in-market auto shoppers on the Web, AutoTrader.com has become a leading resource for auto dealers and manufacturers to present their vehicles for sale and influence shopper and buyer behavior via highly targeted and cost effective online advertising. For the auto shopper, AutoTrader.com offers a wealth of research-and-compare functions, search tools and inventory of cars for sale, all of which allows car shoppers to find the perfect car to meet their individual needs.

Kelley Blue Book, founded in 1926, launched its top rated web site in 1995 and is now a leading provider of new and used vehicle pricing information to the auto industry. The company provides its values to dealers, banks, finance and insurance companies nationwide on a weekly basis. In the last few years, the company implemented a new multi-million dollar, state-of-the-art vehicle information management system, positioning the company to deliver the best market insights in the auto industry.  

The finalized agreement, first announced on October 26, makes Kelley Blue Book a subsidiary of AutoTrader.com.

Source PRNewswire

Tags: Advice, Car Selling, Car Shopping, General // Add Comment »