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OPENLANE Announces Participation in Upcoming Investor Conference

Retrieved on:

Thursday, March 14, 2024

CARMEL, Ind., March 14, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will participate in the BofA Securities Automotive Summit 2024 on Wednesday, Mar.

Key Points:

CARMEL, Ind., March 14, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will participate in the BofA Securities Automotive Summit 2024 on Wednesday, Mar.
27, 2024, at 8:50am ET.
Participating in the conference will be OPENLANE's Peter Kelly, CEO, James Coyle, EVP and President, North American Marketplaces and Mike Eliason, Treasurer and VP, Investor Relations.

OPENLANE Announces Retirement of Mike Eliason, Treasurer and Vice President of Investor Relations

Retrieved on:

Tuesday, February 27, 2024

Eliason, KAR, Growth, EVP

CARMEL, Ind., Feb. 27, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announced that Mike Eliason, Treasurer and Vice President of Investor Relations, is retiring after more than 25 years at the company, effective June 1, 2024. Eliason will continue to serve in his position until a successor is named to ensure a seamless transition.

Key Points:

Eliason will continue to serve in his position until a successor is named to ensure a seamless transition.
OPENLANE will conduct a thorough national search process for Eliason's successor.
Upon Eliason's retirement, Brad Lakhia, EVP and Chief Financial Officer, will assume the role of Treasurer.
"I want to thank Mike for his leadership and congratulate him on his well-deserved retirement."

OPENLANE Promotes Will Mitchell to Lead AFC

Retrieved on:

Tuesday, February 13, 2024

Dream, KAR, Army National Guard, AFC, Management

CARMEL, Ind., Feb. 13, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the promotion of Will Mitchell to president of AFC effective April 1, 2024. In his expanded role, Mitchell will oversee the vision, strategy and all operations for AFC, including business development, sales, field and commercial operations. Mitchell will also become a member of OPENLANE's executive leadership team and report to OPENLANE CEO Peter Kelly.

Key Points:

In his expanded role, Mitchell will oversee the vision, strategy and all operations for AFC, including business development, sales, field and commercial operations.
Mitchell will also become a member of OPENLANE's executive leadership team and report to OPENLANE CEO Peter Kelly.
"Will is an experienced and forward-thinking leader with a bold vision for AFC," said Peter Kelly, CEO of OPENLANE.
Prior to his time with AFC, Mitchell held business development and strategy roles at companies in the energy and other industries.

OPENLANE to Announce Fourth Quarter and Full Year 2023 Earnings

Retrieved on:

Wednesday, February 7, 2024

KAR, Webcast

CARMEL, Ind., Feb. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter 2023 financial results after the market closes on Tuesday, February 20, 2024.

Key Points:

CARMEL, Ind., Feb. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter 2023 financial results after the market closes on Tuesday, February 20, 2024.
OPENLANE will also host an earnings conference call and webcast following the release on Tuesday, February 20, 2024, at 5:00 p.m.
The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia.
The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call.

OPENLANE Launches Visual Boost AI™ to Pinpoint Vehicle Damage

Retrieved on:

Wednesday, January 3, 2024

Partnership, KAR, AI, Artificial intelligence, EVP, Inspection

CARMEL, Ind., Jan. 3, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the launch of Visual Boost AI™, new damage detection overlays for every dealer-consigned vehicle in OPENLANE's US marketplace. The AI-powered technology supplements vehicle inspection data by prominently highlighting detected exterior damage directly on photos within the condition report (CR), making it faster and easier for interested buyers to accurately locate and assess potential defects before making a purchase decision.

Key Points:

Now available on all dealer-consigned vehicles in OPENLANE's US marketplace, Visual Boost AI leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected.
"OPENLANE's Visual Boost AI really improves the quality of the inspections, giving me 60%-70% extra confidence about the major damage on the vehicle," said Rami Mourtaja, general manager of R B Morgan Co in Houston, Texas.
Innovated in partnership with Click-Ins Visual Intelligence platform for vehicle inspections, Visual Boost AI expands the company's portfolio of mobile-based artificial intelligence capabilities for damage detection and vehicle inspections.
OPENLANE's network of independent vehicle inspectors scan the vehicle using their smartphone camera as part of their regular inspection process.

OPENLANE Announces Planned Retirement of AFC President Jim Money

Retrieved on:

Thursday, December 14, 2023

Money, Retirement, Growth, Dream, KAR, Family, NYSE, AFC, Transport, Management, RV

CARMEL, Ind., Dec. 14, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the upcoming retirement of AFC President Jim Money effective April 1, 2024.

Key Points:

CARMEL, Ind., Dec. 14, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the upcoming retirement of AFC President Jim Money effective April 1, 2024.
Money assumed his current role in 2016 and leaves a legacy of nearly 25 years of purpose-driven leadership, growth and innovation at AFC.
"No one is more passionate about our customers, our people and the power of purpose-driven culture than Jim," said Peter Kelly, CEO of OPENLANE.
"For more than two decades, it has been my privilege and joy to serve independent dealers and help fuel their dreams and success," said Money, president of AFC.

OPENLANE to Acquire Manheim Canada

Retrieved on:

Monday, December 4, 2023

Sale, KAR, Acquisition, NYSE, Commercial, Cox Enterprises, Retail, Mannheim, Growth

CARMEL, Ind., Dec. 4, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has signed a definitive agreement to acquire the Manheim Canada business ("Manheim Canada") from Cox Automotive, subject to certain customary closing conditions. The proposed acquisition advances OPENLANE's digital strategy by adding Manheim Canada inventory, buyers, sellers and corresponding data to the OPENLANE Canada digital marketplace launched earlier this year. Valued at $130 million CAD or approximately $95 million USD, the transaction includes the Manheim Montreal facility and auction sales, operations and select staff across Manheim Canada, which intends to exit Canada.

Key Points:

CARMEL, Ind., Dec. 4, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has signed a definitive agreement to acquire the Manheim Canada business ("Manheim Canada") from Cox Automotive, subject to certain customary closing conditions.
The proposed acquisition advances OPENLANE's digital strategy by adding Manheim Canada inventory, buyers, sellers and corresponding data to the OPENLANE Canada digital marketplace launched earlier this year.
After the transaction closes, OPENLANE will integrate the Manheim Canada business into the existing OPENLANE Canada business, combining all inventory within the OPENLANE digital marketplace.
"OPENLANE Canada is committed to fulfilling our purpose, to make wholesale easy so our customers can be more successful," said Trevor Henderson, chief operating officer of OPENLANE Canada.

OPENLANE Announces Participation in Upcoming Investor Conference

Retrieved on:

Wednesday, November 22, 2023

KAR, NYSE, Conference, Satellite navigation device

CARMEL, Ind., Nov. 22, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will participate in the Barclays Global Automotive and Mobility Tech Conference on Wednesday, November 29, 2023 at 9:20am ET.

Key Points:

CARMEL, Ind., Nov. 22, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will participate in the Barclays Global Automotive and Mobility Tech Conference on Wednesday, November 29, 2023 at 9:20am ET.
Participating in the conference will be OPENLANE's Chief Financial Officer Brad Lakhia and Treasurer and Vice President Investor Relations Mike Eliason.

OPENLANE Launches US Marketplace Combining BacklotCars and Exclusive Off-Lease Inventory

Retrieved on:

Monday, November 20, 2023

Sale, KAR, Habit, NYSE, Transport, Online shopping, Auction

CARMEL, Ind., Nov. 20, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the launch of the all-new OPENLANE US digital marketplace. The consolidated platform brings together off-lease inventory from the majority of US commercial sellers with dealer-to-dealer inventory from thousands of franchise and independent dealers previously available on BacklotCars. The launch of OPENLANE in the US follows the company's successful consolidation of its Canadian platforms in June and features the best technology, data and product offerings from across the entire company.

Key Points:

The consolidated platform brings together off-lease inventory from the majority of US commercial sellers with dealer-to-dealer inventory from thousands of franchise and independent dealers previously available on BacklotCars.
"With exclusive off-lease inventory not available on any other digital platform or physical auction and thousands of vehicles from franchise and independent dealers previously available on BacklotCars, OPENLANE offers a truly unique and unmatched selection of inventory.
All existing BacklotCars and OPENLANE customers are able to start selling, bidding and buying on the new US marketplace immediately, and the legacy platforms have been retired.
For more information about the OPENLANE US marketplace or to register as a new buyer or seller, visit openlane.com .

OPENLANE Announces Participation in Upcoming Investor Conferences

Retrieved on:

Friday, November 10, 2023

KAR, NYSE, Conference, Internet, Telecommunications

CARMEL, Ind., Nov. 9, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces participation in the following conferences:

Key Points:

CARMEL, Ind., Nov. 9, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces participation in the following conferences:
RBC Global Technology, Internet, Media and Telecommunications Conference on Tuesday, November 14, 2023 at 3:20 p.m.
ET.
OPENLANE's Chief Financial Officer Brad Lakhia and Treasurer and Vice President Investor Relations Mike Eliason are scheduled to participate.
OPENLANE's Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia are scheduled to participate.