IAA Transport™ Service Footprint Expanded to Mexico and Nigeria
07 September 2022 - 2:30PM
Business Wire
Product to streamline buyer experience in two
of the largest export markets
IAA, Inc. (NYSE: IAA), a leading global digital marketplace
connecting vehicle buyers and sellers, announces that it has
expanded its service footprint of IAA Transport to include Mexico
and Nigeria.
Introduced in 2021, IAA Transport has transformed and
streamlined the vehicle transport process with a global
branch-to-doorstep delivery solution. With this expansion, buyers
in Mexico and Nigeria can now generate real-time quotes on any
vehicle available for sale or any vehicle purchased by the buyer,
both pre-payment and post-payment. The transaction is completed on
a single platform, providing real-time status updates, guaranteed
title and a dedicated IAA team handling transportation.
“We are thrilled to bring our very successful IAA Transport
product to these two important markets, which will enable buyers to
take advantage of all the beneficial features it offers to greatly
improve the buyer experience,” said Justin Mahlik, Sr. Vice
President and Chief Transformation Officer for IAA. “IAA continues
to lead the industry in using data and technology to find effective
ways to reduce friction for our buyers, before and after purchasing
inventory.”
For more information on IAA Transport, visit IAAI.com.
About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace
connecting vehicle buyers and sellers. Leveraging leading-edge
technology and focusing on innovation, IAA’s unique platform
facilitates the marketing and sale of total-loss, damaged and
low-value vehicles. Headquartered near Chicago in Westchester,
Illinois, IAA has nearly 4,500 employees and more than 210
facilities throughout the U.S., Canada and the United Kingdom. IAA
serves a global buyer base – located throughout over 170 countries
– and a full spectrum of sellers, including insurers, dealerships,
fleet lease and rental car companies, and charitable organizations.
Buyers have access to multiple digital bidding and buying channels,
innovative vehicle merchandising, and efficient evaluation
services, enhancing the overall purchasing experience. IAA offers
sellers a comprehensive suite of services aimed at maximizing
vehicle value, reducing administrative costs, shortening selling
cycle time and delivering the highest economic returns. For more
information visit IAAI.com, and follow IAA on Facebook, Twitter,
Instagram, YouTube and LinkedIn.
Forward-Looking Statements:
Certain statements contained in this release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and which are subject to
certain risks, trends and uncertainties. In particular, statements
made in this release that are not historical facts may be
forward-looking statements. Words such as "should," "may," "will,"
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates" and similar expressions identify forward- looking
statements. Such statements include statements regarding the
expected timing and associated benefits with respect to the
expansion of IAA Transport services to Mexico and Nigeria on our
business and plans regarding our growth strategies and margin
expansion plan, and to our customers and company generally. Such
statements are based on management’s current expectations, are not
guarantees of future performance and are subject to risks and
uncertainties that could cause actual results to differ materially
from the results projected, expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to: the impact of COVID-19 and macroeconomic
conditions on our business; our future growth; expectations
regarding vehicle volume sales, results of operations and capital
expenditures; and our continued investment in information
technology, the impact of macroeconomic factors, including high
fuel prices and rising inflation, on our revenues, gross profit and
operating results; the loss of one or more significant vehicle
suppliers or a reduction in significant volume from such suppliers;
our ability to meet or exceed customers’ demand and expectations;
significant current competition and the introduction of new
competitors or other disruptive entrants in our industry; the risk
that our facilities lack the capacity to accept additional vehicles
and our ability to obtain land or renew/enter into new leases at
commercially reasonable rates; our ability to effectively maintain
or update information and technology systems; our ability to
implement and maintain measures to protect against cyberattacks and
comply with applicable privacy and data security requirements; our
ability to successfully implement our business strategies or
realize expected cost savings and revenue enhancements, including
from our margin expansion plan; business development activities,
including acquisitions and the integration of acquired businesses,
and the risks that the anticipated benefits of any acquisitions may
not be fully realized or take longer to realize than expected; our
expansion into markets outside the U.S. and the operational,
competitive and regulatory risks facing our non-U.S. based
operations; our reliance on subhaulers and trucking fleet
operations; changes in used-vehicle prices and the volume of
damaged and total loss vehicles we purchase; economic conditions,
including fuel prices, commodity prices, foreign exchange rates and
interest rate fluctuations; trends in new- and used-vehicle sales
and incentives; uncertainties regarding ongoing surges of COVID-19
infections, including new more contagious and/or vaccine resistant
variants, and the impact on the duration and severity of the
COVID-19 pandemic and measures intended to reduce its spread,
including the availability, rate of public acceptance and efficacy
of COVID-19 vaccines; and other risks and uncertainties identified
in our filings with the Securities and Exchange Commission (the
“SEC”), including under Item 1A “Risk Factors” in our Annual Report
on Form 10-K filed with the SEC on February 28, 2022 and Item 1A
“Risk Factors” in our Quarterly Report on Form 10-Q filed with the
SEC on May 10, 2022, as such risk factors may be amended,
supplemented or superseded from time to time by other reports we
file with the SEC, including subsequent Quarterly Reports on Form
10-Q and Annual Reports on Form 10-K. Many of these risk factors
are outside of our control, and as such, they involve risks which
are not currently known that could cause actual results to differ
materially from those discussed or implied herein. The
forward-looking statements in this document are made as of the date
on which they are made and we do not undertake to update our
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220907005030/en/
Media Inquiries: Jeanene
O’Brien | IAA, Inc. SVP, Global Marketing and Communications (708)
492-7328 jobrien@iaai.com
Analyst Inquiries: Caitlin
Churchill | ICR (203) 682-8200 investors@iaai.com
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