Openlane Inc - Company Profile
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Openlane Inc (Openlane), formerly KAR Auction Services Inc, is a provider of vehicle auction services. It is an auction company specializing in the integration of digital, mobile, and physical auction marketplaces. The company's primary operations involve conducting used vehicle auctions and offering related vehicle remarketing services. Openlane's product portfolio includes both new and used vehicles, supplemented by a range of ancillary services such as inspections, transportation, reconditioning, collateral recovery, titling and floor plan financing. The company is associated with online platforms such as ADESA Simulcast, ADESA.com, TradeRev, and BacklotCars. Its services cater to a diverse clientele including dealers, vehicle manufacturers, Original Equipment Manufacturers (OEMs), fleet operators, financial institutions, and rental companies. The company operates across Europe and North America. Openlane is headquartered in Carmel, Indiana, the US.
Headquarters
United States of America
Address
Suite 500, 11299 N Illinois Street, Carmel, Indiana, 46032
Website
corporate.openlane.com
Telephone
1 800 9233725
No of Employees
4,800
Industry
Automotive
Ticker Symbol & Exchange
OPLN (NYSE)
Revenue (2024)
$1.9B
8.2%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
61.7%
(2024 vs 2023)
Market Cap*
$4.4B
Net Profit Margin (2024)
XYZ
49.7%
(2024 vs 2023)
* As of and is in US$
Openlane Inc premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Product: | Auctioning | AFC |
| New and Used Cars | Reconditioning Services | ADESA Canada |
| Transportation | ADESA International | |
| XYZ | XYZ | |
| XYZ | XYZ | |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Contracts/Agreements | In March, the company's subsidiary Autoniq announced a new integration CarMax Auction inventory. |
| 2025 | New Products/Services | In September, the company launched Audio boost AI. |
| 2024 | Divestiture | In December, the company sold High Tech Locksmiths to Dent Wizard. |
Competitor Comparison
| Key Parameters | Openlane Inc | AutoNation Inc | CarMax Inc | Carvana Co | ACV Auctions Inc |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Carmel | Fort Lauderdale | Richmond | Tempe | Buffalo |
| State/Province | Indiana | Florida | Virginia | Arizona | New York |
| No. of Employees | 4,800 | 24,800 | 27,796 | 23,100 | 3,200 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Michael T Kestner | Chairman | Executive Board | 2023 | 72 |
| Peter J Kelly | Chief Executive Officer; Director | Executive Board | 2021 | 57 |
| Brad Herring | Executive Vice President; Chief Financial Officer | Senior Management | 2025 | 55 |
| Charles S Coleman | Executive Vice President; Chief Legal Officer; Secretary | Senior Management | 2020 | 54 |
| Marty Nowlin | Chief Human Resources Officer; Executive Vice President | Senior Management | 2026 | 51 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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