KAR - KAR Auction Services - Stock & Dividends

KAR Auction Services Inc, now known as OPENLANE, Inc., is a leading digital marketplace that connects buyers and sellers of used vehicles across North America, Europe, the Philippines, and Uruguay.

The company operates through two main segments: Marketplace and Finance. The Marketplace segment provides a digital platform for buying and selling used vehicles, offering a range of value-added services to facilitate the process. These services include inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services.

The Marketplace segment also offers mobile-app enabled solutions, such as OPENLANE, which allows dealers to sell and source inventory in the United States. The company sells its products and services to a diverse range of customers, including vehicle manufacturers, fleet companies, rental car companies, finance companies, and others.

The Finance segment provides floorplan financing, a short-term inventory-secured financing solution, specifically designed for independent used vehicle dealers. This financing option enables dealers to manage their inventory and cash flow more effectively.

OPENLANE, Inc. serves both commercial and dealer customers, offering a comprehensive suite of services to support the used vehicle market. With a strong online presence and a commitment to innovation, the company has established itself as a leader in the digital marketplace for used vehicles.

Headquartered in Carmel, Indiana, OPENLANE, Inc. was founded in 2006 and has since grown to become a prominent player in the used vehicle industry. For more information, visit their corporate website at https://corporate.openlane.com.