LONDON, ONT. – The clock is ticking on the CARPROOF name after the well-known company said it would rebrand itself as Carfax Canada in October.
The change further aligns CARPROOF, the made-in-Canada vehicle history report and data company, and Carfax, the U.S.-based industry leader, under its common parent company.
“We want our customers to know that this is a change in name only,” Shawn Vording, vice-president of automotive sales at CARPROOF, told Canadian AutoWorld after the announcement.
“Our partners will still receive the comprehensive history and valuation information they have come to expect from CARPROOF. This decision was driven by our commitment to continuous growth and will allow us to provide better products and services to a greater audience.”
Many industry watchers expected some level of brand integration following the 2015 blockbuster deal that saw Colorado-based IHS Markt Inc. purchase CARPROOF for $650 million.
IHS Markt is a leading global source of critical information and insight that works in over a dozen industries including oil and gas, telecommunications, automotive, aerospace and agriculture.
Vording said the business’ growth aspirations would remain the same and that it is still in control of its own destiny as a subsidiary of IHS.
The move, he explained, is a logical realignment as Carfax has branding alignment in Europe, too. He noted Carfax had been winding down business in Canada for some time and that CARPROOF had been actively bringing all of the Carfax data into its reports.
“Other than the logo, nothing will really change with the reports,” he said.
There will likely be further synergies to realize with marketing and communications around building out the Carfax Canada brand. He said the industry and consumers are likely to see a campaign hit the market later this year ahead of the official fall wind down.