Almost 16 years ago, Autotrader launched its online automotive marketplace.

Today, the company is recognizing its evolution into a digital solutions company offering a suite of tools that make car buying and selling easier for consumers, dealers and manufacturers with the launch of a new logo and brand identity.

"This new brand identity reinforces the transformation underway in our business," said Autotrader president Jared Rowe. "We're building on our legacy as the most comprehensive online automotive marketplace by expanding on our strengths, stretching into new territory that aligns with our mission and creating an emotionally engaging experience for both buyers and sellers."

The new brand identity was developed in partnership with brand consulting and design firm Lippincott.

First things first, in written communications, Autotrader will now be treated as a single name with a lower-case “t”.

The company explained this move was made to reinforce the brand’s existing position in the minds of consumers, since the term Autotrader is commonly used and recognized as a single term, company management said.

The new logo, featured above, can be interpreted in different ways, the company said, such as the following: the road ahead, an arrow pointing forward and a subtle "AT."

The design drew inspiration from vehicle badges and translates well to mobile, Web and print applications, which was no accident. The company wanted to reflect the growth of multi-device usage in car shopping.

And, of course, Autotrader’s signature orange still has a place in the company’s new look.

"This new logo visually represents our role in the car shopping process — Autotrader is the guiding force that leads consumers to the vehicle that's a perfect match through an experience that's personal, immersive and surprisingly enjoyable," said John Kovac, senior vice president of marketing for Cox Automotive, the parent company of Autotrader. "We've come a long way since our brand was born 16 years ago, and this new identity perfectly captures that journey by giving a subtle nod to our history while literally pointing forward toward our future."

The new logo will also soon hit the racetrack, as Autotrader and Team Penske will debut a new paint scheme for Joey Logano's No. 22 Ford Fusion at the Ford City 500 in Bristol, Tenn. on April 19.

"The new identity evokes a fresh optimism and confidence that speak to the company's passion for cars," says Michelle Matthews, partner, Lippincott. "As important, the design also represents the journey — the possibilities that propel a car buyer along the exciting road to finding the right car."