KAR AUCTION SERVICES, INC.

(KAR)
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Delayed Nyse  -  05/16 04:00:01 pm EDT
14.50 USD   +6.77%
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KAR Auction Services : CarsArrive Network Launches Platform Enhancements for Seamless User Experience

12/22/2021 | 10:17am EDT

CarsArrive Network, a business unit of global wholesale used vehicle digital marketplace operator KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), announces the evolution of its technology platform, creating a more seamless user experience for customers. Transporters, banks, vehicle lenders and financial institutions will benefit from new enhancements including migration from on-premise servers to the cloud, as well as the ability to rollout new features or bug fixes with minimal down time.

"Customers want instant, reliable access to transport and real-time updates on the status and location of their vehicles-so we focused our platform enhancements on creating an improved user experience that virtually eliminates delays and downtime," said Michael Briggs, president of CarsArrive. "We can now scale according to the needs of our customers with no change in infrastructure while operating at a higher standard."

The CarsArrive platform evolution also includes an all-new mobile app, which the company anticipates launching in early 2022. The reimagined app will feature an easy-to-use interface and offline capabilities, further enhancing the user experience for both customers and transporters alike.

The new platform upgrades provide customers and transporters with little to no system delays when introducing new features. Updates can be put into production seamlessly and without disruption-allowing business to continue as usual. The platform also runs on the latest framework, providing better performance and improved security for all parties.

CarsArrive provides an online marketplace where shippers and carriers come together and conduct business in a trusted and secure environment. Their North American network of automated vehicle transport services includes more than 6,500 registered carriers representing over 50,000 trucks.

Disclaimer

KAR Auction Services Inc. published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2021 15:16:03 UTC.


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Financials (USD)
Sales 2022 1 579 M - -
Net income 2022 30,9 M - -
Net Debt 2022 457 M - -
P/E ratio 2022 171x
Yield 2022 -
Capitalization 1 762 M 1 762 M -
EV / Sales 2022 1,41x
EV / Sales 2023 1,28x
Nbr of Employees 8 928
Free-Float 98,5%
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Number of Analysts 9
Last Close Price 14,50 $
Average target price 21,71 $
Spread / Average Target 49,8%
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Managers and Directors
Peter J. Kelly Chief Executive Officer & Director
Eric Michael Loughmiller Executive VP, Chief Financial & Accounting Officer
James P. Hallett Executive Chairman
Michael T. Kestner Lead Independent Director
J. Mark Howell Independent Director
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