KAR Auction Services, Inc. Profile
Industry
Auto - Truck DealershipsSector
Consumer CyclicalNumber of Employees
3825KAR Auction Services's Business Model
KAR Auction Services, Inc., together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. It also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, vehicle research, and analytical services, as well as data as a service. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. As of December 31, 2021, this segment had a network of approximately 70 vehicle logistics center locations in North America. The AFC segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers; and sells vehicle service contracts. The company provides wheel repair and hail catastrophe response services. It serves vehicle manufacturers, vehicle rental companies, financial institutions, commercial fleets and fleet management companies, and dealer customers. The company was formerly known as KAR Holdings, Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR Auction Services, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
About KAR Auction Services
Website: https://www.karglobal.com
CEO (Chief Executive Officer): Mr. Peter J. Kelly
IPO date: 2009-12-11
Contact
Country: US
Address: 11299 North Illinois Street
City: Carmel
State: IN
Phone: 800 923 3725
Zip Code: 46032
Other
CIK: 0001395942
ISIN: US48238T1097
CUSIP: 48238T109
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