KAR Auction Services (KAR) - Stock & Dividends

KAR Auction Services Inc (NYSE:KAR), now known as OPENLANE, Inc., is a leading digital marketplace for used vehicles operating in North America, Europe, the Philippines, and Uruguay. They connect sellers and buyers through two main segments: Marketplace and Finance.

The Marketplace segment offers digital marketplace services for the buying and selling of used vehicles through platforms like BacklotCars and TradeRev in the US and Canada, ADESA U.K. in the United Kingdom, and ADESA Europe in Continental Europe. In addition to facilitating transactions, this segment also offers various value-added services like transportation logistics, reconditioning, vehicle inspection, titling, and administrative services.

The Finance segment provides floorplan financing, which is a short-term financing solution secured by inventory, specifically catering to independent used vehicle dealers. OPENLANE, Inc. serves a diverse range of clients including vehicle manufacturers, rental companies, financial institutions, commercial fleets, franchisees, and independent dealers.

Founded in 2006 and headquartered in Carmel, Indiana, OPENLANE, Inc. continues to expand its digital marketplace presence globally, offering a seamless and efficient platform for the automotive industry. Visit their website at https://corporate.openlane.com for more information.