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 |
| James P. Coyle | Executive Vice President and President of 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 |
| Patrick Ming | Executive Sales Director |
| Christopher Seitz | Senior Vice President |
| Gary Watkins | Chief Information Officer of IT Shared Services |
| Stacey White | Senior Vice President of Enterprise Optimization |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Feb 20, 2025 | 10-K | Annual Report |
| Feb 19, 2025 | 8-K | Current Report |
| Jan 13, 2025 | UPLOAD | Filing |
| Dec 26, 2024 | UPLOAD | Filing |
| 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 |