ADESA, a wholesale auto auction company and subsidiary of Carvana (NYSE: CVNA), announced the launch of ADESA Timed, a self-service digital auction platform for wholesale sellers.

The new platform allows wholesale sellers including financial institutions, fleets, rental companies, and dealer groups to list inventory directly on ADESA's digital auction system. Sellers can use the same technology, tools, and merchandising capabilities that support ADESA's existing managed auction service, ADESA Clear.

ADESA's digital auction platform now consists of three products: ADESA Clear, a fully managed timed auction offering; ADESA Timed, the new self-service timed auction offering; and ADESA Simulcast, which provides live digital access to ADESA's physical auction lanes.

"ADESA Timed gives our customers a new way to reach ADESA's highly-engaged, digital buyer base while benefiting from the same transparency, efficiency, and technology that define our marketplace," said Nikki Behrens, ADESA's Vice President, Marketplaces.

The platform extends ADESA's digital marketplace capabilities to a broader group of sellers beyond those using the company's managed auction services. ADESA operates as a subsidiary of online automotive retailer Carvana, providing remarketing and logistics solutions to original equipment manufacturers, financial institutions, fleet operators, and dealers.

The information is based on a company press release statement.