Solera Increases Vehicle Data Coverage in China to Over 95 Percent
- Market coverage has more than doubled over the past year.
- Solera now covers more than 166 million vehicles on Chinese roads.
- Comprehensive automotive data for both exports and imports.
WESTLAKE, Texas, March 9, 2017 /PRNewswire/ -- Solera Holdings, Inc., ("Solera") a global leader in data and software for automotive, home ownership and digital identity management, today announced that it has more than doubled its import and export vehicle data coverage from 45 percent to over 95 percent of all cars on Chinese roads. Solera's comprehensive profile of more than 166 million vehicles in China marks an unprecedented milestone in the aggregation and normalization of automotive data for the largest car market in the world.
The expanded scope of Solera's database of Chinese vehicles now includes:
- Over 100 unique car manufacturers;
- Over 1,000 vehicle models and 9,000 sub-models;
- Over 150,000 vehicle option configurations;
- 1.5 million unique inventory parts; and
- 800,000 unique vehicle parts graphics.
The increased coverage also enables the accelerated proliferation of Solera's expansive products and services for automotive lifecycle management throughout China.
Solera first introduced its global data capabilities in the Chinese market when it constructed the Solera Data Development Center in Beijing in 2008. In December 2015, Solera expanded its investment by opening CESVICHINA, China's first automotive insurance research center concentrated on driving technology-focused innovation to advance the country's automotive insurance infrastructure.
"Since entering the Chinese market, we have been on a mission to facilitate mutually-beneficial partnerships among all vehicle industry participants while leveraging Solera's global expertise in innovative data and software systems," said Tony Aquila, the founder, Chairman and CEO of Solera. "This substantial increase in aggregated data allows us to create smarter, safer and more advanced practices and standards for the Chinese automotive industry by driving knowledge and transparency across all 54 transactions in a vehicle's lifecycle."
About Solera
Founded and continuously led by inventor and entrepreneur Tony Aquila, Solera is a global leader in digital technologies that manage and protect life's most important assets: our cars, homes and identities. Since its inception in 2005 as a garage-based startup, Solera has grown aggressively with over 40 acquisitions across its Risk Management Solutions, Service Maintenance & Repair, and Customer Retention Management platforms. The company's current product solutions include Audatex, Autodata, AutoPoint, CAP/HPI, Digidentity, Enservio, Explore Data, Hollander, Identifix, Inpart, LYNX and TitleTec, as well as the company's flagship Digital Garage application. Today, Solera processes over 240 million transactions annually for approximately 200,000 partners and customers in 80+ countries. Unified by a strong culture that values uncommon entrepreneurial thinking and continuous "do-it-different" innovation, Solera's global workforce of 6,000+ associates comes from diverse forward-thinking industries that include automotive technology, artificial intelligence, software development, data sciences, cybersecurity, cognitive design, and digital identity protection. Solera went public on the NYSE in 2007 under the stock symbol "SLH", joined the S&P 400 in 2009, and went private in 2016 in a $6.5 billion transaction backed by leading investors that include Vista Equity Partners, Koch Industries and Goldman Sachs. For more information, please visit www.solera.com, fb.com/solerainnovation, or @soleraworks on Instagram and Twitter.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about: Solera's ability to leverage its increased China vehicle data coverage to (i) proliferate Solera group products and services for automotive lifecycle management throughout China; and (ii) enable Solera to create smarter, safer and more advanced practices and standards for the Chinese automotive industry. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in transactions of this nature and our business, including, without limitation: the failure to realize the expected benefits of the increase in our China vehicle data coverage; risks associated with and possible negative consequences of acquisitions, investments, joint ventures and similar transactions; continued adoption of the Solera group's products and services in China and other locations; effects of competition on product and service pricing and the Solera group's business in China and other locations; Solera's ability to obtain additional financing as necessary to support its business or operations; rapid technology changes in Solera's industry; and effects of security breaches on Solera's business and reputation. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Solera Holdings, Inc.
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