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KAR Auction Services, Inc. (doing business as KAR Global) operates as a leading digital marketplace for used vehicles, connecting buyers and sellers across North America and Europe. The company facilitates fast and transparent transactions through its digital platforms and provides ancillary services to support vehicle remarketing. KAR also offers short-term financing solutions to independent vehicle dealers.
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Marketplace Segment - Operates digital marketplaces for wholesale used vehicles in North America and Europe, connecting buyers and sellers. Includes platforms like BacklotCars, TradeRev, ADESA Europe, ADESA U.K., and OPENLANE, as well as 14 vehicle logistics centers in Canada. Provides additional services such as transportation logistics, reconditioning, vehicle inspection, titling, and collateral recovery.
- BacklotCars - Dealer-to-dealer wholesale vehicle platform in the U.S..
- TradeRev - Online automotive remarketing platform in Canada for real-time vehicle auctions.
- ADESA Europe and ADESA U.K. - Online wholesale vehicle auction platforms in Continental Europe and the United Kingdom.
- OPENLANE - Private label digital remarketing platform for commercial consignors, including automobile manufacturers and captive finance companies.
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Finance Segment - Provides short-term, inventory-secured financing (floorplan financing) to independent used vehicle dealers in the U.S. and Canada. Offers liquidity for trade-ins, title management services, and operates through digital platforms and physical locations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brad S. Lakhia Executive | Executive Vice President, Chief Financial Officer | None | CFO since April 2023, with over 25 years of financial expertise, including roles at Goodyear and Andeavor. Leads financial strategy and reporting at KAR. | |
Charles S. Coleman Executive | Executive Vice President, Chief Legal Officer, and Secretary | None | Chief Legal Officer since November 2020. Joined KAR in 2015 and has held various legal leadership roles. | |
James P. Coyle Executive | Executive Vice President, President, North American Marketplaces | None | EVP and President of North American Marketplaces since July 2023. Former Chief Digital Officer at KAR and CEO of RealSelf, Inc.. | |
Lisa A. Price Executive | Executive Vice President, Chief People Officer | None | Chief People Officer since January 2020. Previously EVP of Human Resources at KAR and practiced employment law before joining the company. | |
Peter J. Kelly Executive | Chief Executive Officer | None | CEO since April 2021, previously President of KAR and President of Digital Services. Co-founder of OPENLANE with extensive experience in digital transformation. | View Report → |
Sriram Subrahmanyam Executive | Executive Vice President, Operations and President, Services and International Markets | None | EVP of Operations and President of Services and International Markets since May 2023. Former COO of ADESA and SVP of Business Transformation at KAR. | |
Tobin P. Richer Executive | Executive Vice President, Marketing and Communications | None | EVP of Marketing and Communications since February 2024. Previously held senior roles at KAR and Elevance Health, focusing on corporate communications and branding. | |
Carmel Galvin Board | Independent Director | Chief People Officer at Klaviyo, Inc. | Independent Director since February 2020. Former Chief People Officer at Stripe and Autodesk, with over 25 years of HR leadership experience. | |
J. Mark Howell Board | Independent Director | None | Independent Director since December 2014. Chair of the Audit and Risk Committees at KAR. | |
Mark E. Hill Board | Independent Director | Managing Partner of Collina Ventures, LLC | Independent Director since June 2014. Co-founder of Baker Hill Corporation and involved in various community organizations. | |
Mary Ellen Smith Board | Independent Director | None | Independent Director since October 2019. Former Corporate Vice President at Microsoft with expertise in global operations and digital transformation. | |
Michael T. Kestner Board | Chairman of the Board | None | Chairman of the Board since April 2023. Board member since 2013, with extensive financial expertise as a former CFO. | |
Randy Altschuler Board | Independent Director | CEO and Board Member at Xometry, Inc. | Independent Director since June 2024. Co-founder of Xometry and former executive at CloudBlue Technologies and OfficeTiger. | |
Roy Mackenzie Board | Independent Director | Partner at Apax Partners, LP; Director of Duck Creek Technologies, Trade Me Ltd, and Vyaire Medical, Inc. | Independent Director since June 2020. Extensive private equity experience and board memberships in multiple companies. | |
Sanjeev Mehra Board | Independent Director | Managing Partner of Periphas Capital, LP | Independent Director since October 2021. Extensive experience in private equity and investment management. | |
Stefan Jacoby Board | Independent Director | Non-Executive Director of McLaren Group | Independent Director since June 2019. Consultant in the automotive industry and former executive at Volvo and General Motors. |
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With expectations of challenging commercial volumes in 2025 due to lower off-lease maturities, how do you plan to achieve overall volume growth in your Marketplace segment, and what impact might this have on your ARPU given potential changes in inventory mix?
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Given that independent dealers are reducing inventory levels and lower vehicle values are impacting AFC's revenue growth, what specific strategies are you implementing to mitigate these challenges and maintain profitability in your Finance segment?
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You have increased and extended your share repurchase program to $100 million through the end of 2025; in light of potentially challenging market conditions, how do you balance returning capital to shareholders with investing in growth opportunities and maintaining financial flexibility?
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With the recent departure of your CFO, how are you ensuring continuity in your financial strategy and oversight, and what steps are being taken to mitigate any potential disruption in cost management and capital allocation during this transition?
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As you implement price increases in your open marketplace services, how confident are you that these actions won't adversely affect customer acquisition and volume growth, and what is your strategy to balance pricing power with competitive pressures in the market?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Manheim | In the North American wholesale used vehicle industry, competition is strongest with this company for the supply of used vehicles from national commercial customers. It is one of the largest providers of physical auctions in the industry. |
This company owns and operates ADESA's U.S. physical auction business and is a significant competitor in the North American wholesale used vehicle industry. | |
ACV Auctions | This company is a competitor in the digital marketplace for wholesale used vehicles, providing services in the North American market. |
This company has developed proprietary platforms for selling vehicles to other dealers, competing in the wholesale used vehicle industry. | |
BCA Group | This company is a large European digital remarketer and a competitor in the fragmented European wholesale used vehicle industry. |
NextGear Capital | This company, a subsidiary of Cox Enterprises, Inc., competes nationally in the floorplan financing market for independent vehicle dealers in North America. |
America's Auto Auction | This company is one of the largest providers of physical auctions in the North American wholesale used vehicle marketplace industry. |
EBlock | This company is listed as a direct competitor in the wholesale used vehicle industry, competing in vehicle remarketing and related services. |
No recent press releases or 8-K filings found for KAR.