Openlane Inc - Company Profile
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Openlane Inc (Openlane) is an auction company that provides integrated and advanced digital, mobile and physical auction marketplaces. It offers used vehicle auctions and related vehicle remarketing services to dealers, vehicle manufacturers, OEMs, fleet operators, financial institutions and rental companies. The company principally sells new and used vehicles. Openlane provides various value-added ancillary services such as inspections, transportation, reconditioning, collateral recovery, titling, marshalling and floor plan financing. The company also offers online services including, ADESA Simulcast, ADESA.com, TradeRev and BacklotCars. It has business presence across Europe and North America. Openlane is headquartered in Carmel, Indiana, the US.
Headquarters
United States of America
Address
11299 N. Illinois Street, Carmel, Indiana, 46032
Website
www.openlane.com
Telephone
1 800 9233725
No of Employees
4,500
Industry
Automotive
Ticker Symbol & Exchange
KAR (NYSE)
Revenue (2022)
$1.6B
8.3%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-163.9%
(2022 vs 2021)
Market Cap*
$1.9B
Net Profit Margin (2022)
XYZ
-159.0%
(2022 vs 2021)
* As of and is in US$
Openlane Inc premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| New and Used Cars | Auctioning | ADESA Canada |
| Floor Plan Financing | ADESA International | |
| Reconditioning Services | AFC | |
| 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 |
|---|---|---|
| 2024 | New Products/Services | In January, the company introduced Visual Boost AI. |
| 2023 | Contracts/Agreements | In December, the company signed an agreement to acquire Manheim Canada from Cox Automotive. |
| 2023 | Plans/Strategy | In December, the company announced its plans to acquire Cox Automotive Inc.’s Manheim Canada business for US$95 million. |
Competitor Comparison
| Key Parameters | Openlane Inc | CarMax Inc | AutoNation Inc | ACV Auctions Inc | EBlock Corporation |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Carmel | Richmond | Fort Lauderdale | Buffalo | - |
| State/Province | Indiana | Virginia | Florida | New York | - |
| No. of Employees | 4,500 | 30,621 | 25,300 | 2,170 | - |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Michael Kestner | Chairman | Executive Board | 2023 | 68 |
| Peter J.Kelly | Chief Executive Officer; Director | Executive Board | 2021 | 54 |
| Brad Lakhia | Chief Financial Officer; Executive Vice President | Senior Management | 2023 | - |
| Scott A. Anderson | Interim Chief Financial Officer; Chief Accounting Officer | Senior Management | 2023 | 57 |
| Charles S. Coleman | Chief Legal Officer; Secretary; Executive Vice President | Senior Management | 2020 | 51 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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