KAR - KAR Auction Services Inc.

KAR Stock Chart

KAR Profile

KAR Auction Services, Inc. and its subsidiaries are leaders in the used vehicle auctions and vehicle remarketing services industry, operating extensively across the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two primary segments: ADESA Auctions and AFC. The ADESA Auctions segment conducts whole car auctions both online and at physical auction facilities, offering a wide range of value-added services such as transportation, reconditioning, inspection, title administration, and vehicle research. This segment serves a diverse clientele including vehicle manufacturers, fleet companies, rental car companies, and finance institutions, leveraging a network of approximately 70 vehicle logistics centers in North America as of December 31, 2021.

The AFC segment specializes in providing floorplan financing, which offers short-term inventory-secured financing to independent used vehicle dealers. In addition to financing solutions, AFC sells vehicle service contracts and provides specialized services like wheel repair and hail catastrophe response. Its customer base includes vehicle manufacturers, rental companies, financial institutions, commercial fleets, and dealer customers, contributing to its robust presence and service offerings in the automotive industry.

Originally known as KAR Holdings, Inc., the company rebranded as KAR Auction Services, Inc. in 2009 and was established in 2006, with headquarters located in Carmel, Indiana. KAR Auction Services continues to innovate and expand its footprint in vehicle remarketing services, driving efficiency and value for clients through advanced technology solutions and comprehensive service capabilities tailored to meet the evolving needs of the automotive market.

KAR Revenue Chart

KAR Earnings