Company Description
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in the United States, Canada, Continental Europe and the United Kingdom.
The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles; and value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services.
Its digital marketplaces include OPENLANE platform, a mobile app enabled solutions that allows dealers to sell and source inventory.
This segment sells its products and services through commercial fleet operators, financial institutions, rental car companies, new and used vehicle dealers, and vehicle manufacturers.
The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent vehicle dealers.
It serves commercial customers, and franchise and independent dealer customers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023.
OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
| Country | United States |
| Founded | 2006 |
| IPO Date | Dec 11, 2009 |
| Industry | Auto & Truck Dealerships |
| Sector | Consumer Discretionary |
| Employees | 4,800 |
| CEO | Peter Kelly |
Contact Details
Address: 11299 North Illinois Street, Suite 500 Carmel, Indiana 46032 United States | |
| Phone | 800 923 3725 |
| Website | corporate.openlane.com |
Stock Details
| Ticker Symbol | KAR |
| Exchange | NYSE |
| Stock Type | Common Stock |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| CIK Code | 0001395942 |
| CUSIP Number | 48238T109 |
| ISIN Number | US48238T1097 |
| Employer ID | 20-8744739 |
| SIC Code | 5500 |
Key Executives
| Name | Position |
|---|---|
| Peter J. Kelly | Chief Executive Officer and Director |
| Charles S. Coleman | Executive Vice President, Chief Legal Officer and Secretary |
| James P. Coyle | Executive Vice President and President of Marketplaces |
| William C. Mitchell | Executive Vice President and President of AFC |
| Bradley Herring | Executive Vice President and Chief Financial Officer |
| Dwayne P. Price | Chief Accounting Officer and Principal Accounting Officer |
| Itunu Orelaru | Head of Investor Relations |
| Tobin P. Richer | Executive Vice President of Marketing and Communications |
| Christopher Seitz | Senior Vice President |
| Stacey White | Senior Vice President of Enterprise Optimization |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Jun 9, 2025 | 8-K | Current Report |
| May 28, 2025 | 8-K | Current Report |
| May 9, 2025 | 144 | Filing |
| May 8, 2025 | 10-Q | Quarterly Report |
| May 7, 2025 | 8-K | Current Report |
| Apr 30, 2025 | SCHEDULE 13G/A | Filing |
| Apr 25, 2025 | ARS | Filing |
| Apr 25, 2025 | DEFA14A | Additional definitive proxy soliciting materials and Rule 14(a)(12) material |
| Apr 25, 2025 | DEF 14A | Other definitive proxy statements |
| Apr 22, 2025 | 8-K | Current Report |