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    Ryan (on for John Murphy)

    Research Analyst at Bank of America

    Ryan is an Equity Research Analyst at Bank of America Securities, focusing on automotive industry analysis with coverage of leading companies such as Ford, General Motors, Tesla, and Stellantis. He is recognized for his in-depth stock calls and has contributed to research notes driving high client engagement, with documented calls reflected in Top Wall Street Analyst rankings and strong performance metrics on platforms like TipRanks. Beginning his career in equity research in the early 2010s, Ryan joined Bank of America after previous analyst roles at another bulge-bracket firm, and currently supports lead analyst John Murphy, furthering coverage across traditional and EV auto manufacturers. He holds FINRA Series 7, 63, and 86/87 licenses, maintaining a reputation for analytical rigor and sector expertise.

    Ryan (on for John Murphy)'s questions to OPENLANE (KAR) leadership

    Ryan (on for John Murphy)'s questions to OPENLANE (KAR) leadership • Q4 2024

    Question

    Asked about the source of projected organic EBITDA growth between segments, dealer reception to technology changes, the breakdown of franchise versus independent dealers in the D2D marketplace, and the opportunity to grow franchise dealer participation.

    Answer

    Most of the guided EBITDA growth is expected from the Marketplace segment. The company manages technology changes carefully to maintain ease of use, which dealers appreciate. In the D2D market, franchise dealers are the primary sellers and independent dealers are the primary buyers, but there is an opportunity to grow franchise participation on both the buy and sell sides.

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