Company Description
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay.
The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.
Its digital marketplaces include OPENLANE, a mobile-app enabled solutions that allows dealers to sell and source inventory in the United States.
This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services.
This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others.
The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers.
The company serves commercial customers and 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 | 4,500 |
| CEO | Peter Kelly |
Contact Details
Address: 11299 North Illinois Street Carmel, Indiana 46032 United States | |
| Phone | 800 923 3725 |
| Website | corporate.openlane.com |
Stock Details
| Ticker Symbol | KAR |
| Exchange | NYSE |
| 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 |
| Brad S. Lakhia | Executive Vice President and Chief Financial Officer |
| Sriram Subrahmanyam Ph.D. | Executive Vice President of Operations and President of Services and International Markets |
| Scott A. Anderson | Executive Officer |
| James P. Coyle | Executive Vice President and President of North American Marketplaces |
| Dwayne P. Price | Chief Accounting Officer and Principal Accounting Officer |
| Itunu Orelaru | Head of Investor Relations |
| Charles S. Coleman | Executive Vice President, Chief Legal Officer and Secretary |
| Tobin P. Richer | Executive Vice President of Marketing and Communications |
| Warren W. Byrd | Executive Vice President of Corporate Development and Real Estate |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Nov 19, 2024 | 8-K | Current Report |
| Nov 7, 2024 | 8-K | Current Report |
| Nov 7, 2024 | 10-Q | Quarterly Report |
| Nov 6, 2024 | 8-K | Current Report |
| Oct 3, 2024 | 8-K | Current Report |
| Aug 8, 2024 | S-8 | Securities to be offered to employees in employee benefit plans |
| Aug 8, 2024 | 10-Q | Quarterly Report |
| Aug 7, 2024 | 8-K | Current Report |
| Jun 20, 2024 | 8-K | Current Report |
| Jun 10, 2024 | 8-K | Current Report |