Company Overview of Kelley Blue Book Co., Inc.
Kelley Blue Book Co., Inc. publishes automotive books, and operates an automotive information Website to provide new and used vehicle information to vehicle buyers and sellers in the United States. It offers pricing and values, reviews, and ratings of cars, trucks, and vans, as well as provides advice, and information about finance and dealer locations. The company offers its products through bookstores and auto supply stores. Kelley Blue Book Co., Inc. was formerly known as Kelley Kar Company and changed its name in 1926. The company was founded in 1918 and is based in Irvine, California. As of December 15, 2010, Kelley Blue Book Co., Inc. operates as a subsidiary of AutoTrader.com, Inc.
195 Technology Drive
Irvine, CA 92618
Founded in 1918
Key Executives for Kelley Blue Book Co., Inc.
Chief Information Officer and Executive Vice President of Product Design & Development
Executive Vice President of OEM & Partner Sales & Strategy
Vice President of Oem Advertising and Business Development
Compensation as of Fiscal Year 2014.
Kelley Blue Book Co., Inc. Key Developments
Kelley Blue Book Co., Inc. Introduces Range-Based Used-Car Values for Buyers and Sellers
May 30 14
Kelley Blue Book has introduced range-based pricing for used-car values, following the debut of its new-car ranged-based values in October 2013. The new and improved experience on KBB.com also features an updated look and feel with the Price Advisor tool. The new display on KBB.com prominently features market-based information on Kelley Blue Book's estimate of how much buyers can expect to pay for a used vehicle through a private party or dealer, as well as the company's estimate of what sellers can expect to receive for their vehicle when they trade it in at the dealership. The company noted that based on Kelley Blue Book's research, after an initial look at Price Advisor, 95% of used-car owners surveyed said they found the information valuable, while 92% said they would use the Price Advisor tool to help them negotiate a fair price. In fact, 89% of those surveyed who engaged with the tool expect to pay within the featured Used Car Fair Purchase Price range. Further, for buyers, the Price Advisor is a graphical representation of what Kelley Blue Book thinks they should expect to pay for a used vehicle when purchasing from a dealer or a private party. In addition, if shoppers are considering a used car that is similarly priced to a new model which could be purchased for only a few dollars more each month, an "upgrade" offer appears on the site alerting consumers of this information. The "upgrade" offer takes into account the average interest rate of a new vehicle versus a used model and average monthly payment terms. In some cases, the new model makes more financial sense for a shopper's wallet. For sellers, the new range-based approach reflects Kelley Blue Book's estimate of what a used car is worth. The trade-in range for sellers reflects the variability/negotiability of a trade-in vehicle's value, which can be dependent on many factors such as condition, mileage, supply and demand. Kelley Blue Book also gives consumers the ability to get an instant cash offer for their vehicle from a participating dealership through its Trade-In Marketplace. In generating the Instant Cash Offer, the tool takes into account an extensive set of parameters, including VIN-specific information, details surrounding the condition of the car and the impact of the specific vehicle's history and after-market equipment. The Instant Cash Offer can be used toward the purchase of their next vehicle or redeemed for cash. The Price Advisor gauge includes high and low-end transaction points depicted by colored zones including green, red and white, representing what Kelley Blue Book thinks consumers should expect based on recent transaction data for similar vehicles. The new display also offers consumers more insight to better select the proper condition of their vehicle, and aims to reduce any additional friction when buying, selling or trading-in a used vehicle.
Bitauto Holdings Limited Announces Joint Venture with Kelley Blue Book and China Automobile Dealers Association
Nov 7 13
Bitauto Holdings Limited announced that it has entered into an agreement to establish a joint venture with Kelley Blue Book and the China Automobile Dealers Association. The joint venture will draw on Bitauto's deep, local market understanding and solid customer base within China's used car market, Kelley Blue Book's 87-year history of providing vehicle values, and CADA's trusted and authoritative position in the industry, as well as its exclusive access to extensive data on China's used car market. The joint venture will provide China-wide vehicle valuation products via Web and mobile to consumers, automakers, auto dealers, along with insurance, finance and other automotive-related companies that seek vehicle valuations.
Kelley Blue Book Announces National Launch of its New-Car Pricing Tool
Oct 15 13
Kelley Blue Book announced the national launch of its new-car pricing tool. Now available on its website, the Kelley Blue Book(R) Price Advisor features a new range-based pricing layout and highlights differentiating aspects of local dealerships, including consumer ratings and reviews, new-car specials and inventory. The new range-based Price Advisor tool displays three different pricing zones for a specific make, model and trim combinations: white, green and red. The green zone is the KBB.com(R) New Car Fair Market Range, which reflects current market conditions for a selected vehicle with the buyer's chosen options in his or her area. The Fair Market Range is derived from a mathematical model that leverages Kelley Blue Book's 87-year history of pricing vehicles. KBB.com's Fair Market Range is updated weekly and aggregates new-car transaction data within the user's zip code, and adjusts for local market conditions and seasonal trends. The white zone represents pricing that falls below the Fair Market Range, typically under special circumstances, such as a retiring model year or an unusually competitive market. The red zone falls above the Fair Market Range, and also is considered a special circumstance, where there could be exceptionally low supply with high demand. In addition to receiving a New Car Fair Market Range, consumers can explore local dealerships' inventory. Shoppers benefit from an improved understanding of local dealership services and amenities, new car specials, dealership social media feeds, and dealer ratings and reviews. The experience also specifies proximity to the dealership based on zip code.
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