Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

KAR AUCTION SERVICES, INC.

(KAR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

KAR Auction Services : OPENLANE iQ™ Accelerates Platform Evolution, Expanding Industry-Leading Capabilities for Sellers and Buyers

11/30/2021 | 09:23am EST

Hyundai Capital America Latest to Transition to Industry Leading Platform

OPENLANE iQ™, the off-lease remarketing platform of global wholesale used vehicle digital marketplace operator KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), continues to deliver the most intelligent and connected digital experience for buyers and sellers. Combining industry-leading technology and a collaborative agile approach to development, sellers can leverage seamless integrations across the remarketing ecosystem to tailor the user experience. OPENLANE iQ provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces supporting 80% of North America's private label brands. Hyundai Capital America is one of the latest captive finance companies to migrate to the platform.

"We're obsessed with helping our customers be more successful, and regularly talk with both sellers and buyers to meet their evolving needs. One of the most common themes we hear is a desire for better, faster and easier communication, especially as the industry moves more digital," said Jason Ferreri, EVP commercial customer solutions at KAR Global. "OPENLANE iQ provides sellers with powerful buyer engagement and analytics tools, and dealers with a clearer picture of what is available. We are thrilled to partner with Hyundai Capital America to bring these game-changing benefits to their dealers."

The OPENLANE iQ platform integrates with optional advanced capabilities such as digital signature capture, lessee and/or dealership self-inspection, and vehicle transportation. It also has the power to seamlessly integrate with KAR's other used vehicle marketplaces including ADESA.com, BacklotCars in the U.S. and TradeRev in Canada and sale formats like Simulcast and Simulcast+℠. The platform also pulls in rooftop-specific recommendations powered by KAR's data engine and real-time market intelligence to match the right vehicles to the right buyers in an easy-to-understand format.

"One of our biggest needs is the ability to communicate effectively with dealers and provide the best inventory for their businesses," said Doug Evans, director of national remarketing at Hyundai Capital America. "OPENLANE iQ has delivered a more usable, intelligent private label site that can help our team succeed."
The technology leverages a hybrid-cloud microservices architecture with a mobile-first responsive user interface. This architecture provides the ability to rapidly respond to the voice of the sellers and quickly update the private label sites, providing them with greater control and flexibility.

"OPENLANE iQ is the most intelligent, most integrated, most user-centric, and most-scalable platform available in the industry," said Rick Griskie, president of digital marketplaces at KAR Global. "This industry-leading technology provides significant agility for our customers and dealers."

OPENLANE iQ is the largest, most trusted and most utilized upstream remarketing platform for OEM, captive finance, financial institution and fleet customers.

Disclaimer

KAR Auction Services Inc. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 14:20:01 UTC.


ę Publicnow 2021
All news about KAR AUCTION SERVICES, INC.
2021KAR AUCTION SERVICES : Statement on the Passing of Tom Caruso
PU
2021KAR AUCTION SERVICES : CarsArrive Network Launches Platform Enhancements for Seamless User..
PU
2021KAR AUCTION SERVICES : New General Managers Announced at Eight ADESA Locations
PU
2021ADESA to Fully Deploy Automated Vehicle Tracking Solution Across North America
CI
2021KAR AUCTION SERVICES, INC.(NYSE : KAR) added to S&P 600
CI
2021KAR AUCTION SERVICES, INC.(NYSE : KAR) added to S&P 600 Industrials
CI
2021KAR AUCTION SERVICES, INC.(NYSE : KAR) dropped from S&P 400 Industrials
CI
2021KAR AUCTION SERVICES, INC.(NYSE : KAR) dropped from S&P 400
CI
2021KAR AUCTION SERVICES : OPENLANE iQ™ Accelerates Platform Evolution, Expanding Indust..
PU
2021KAR Global Announces Participation in Upcoming Investor Conference
PR
More news
Analyst Recommendations on KAR AUCTION SERVICES, INC.
More recommendations
Financials (USD)
Sales 2021 2 211 M - -
Net income 2021 58,4 M - -
Net Debt 2021 1 679 M - -
P/E ratio 2021 97,0x
Yield 2021 -
Capitalization 1 978 M 1 978 M -
EV / Sales 2021 1,65x
EV / Sales 2022 1,55x
Nbr of Employees 9 400
Free-Float 98,6%
Chart KAR AUCTION SERVICES, INC.
Duration : Period :
KAR Auction Services, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends KAR AUCTION SERVICES, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 16,33 $
Average target price 19,00 $
Spread / Average Target 16,4%
EPS Revisions
Managers and Directors
Peter J. Kelly Chief Executive Officer & Director
Eric Michael Loughmiller Executive VP, Chief Financial & Accounting Officer
James P. Hallett Executive Chairman
Thomas J. Fisher Chief Technology Officer & Executive VP
Michael T. Kestner Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
KAR AUCTION SERVICES, INC.4.55%1 978
COPART, INC.-9.83%32 426
CARMAX, INC.-12.92%18 334
CARVANA CO.-32.53%13 385
IAA, INC.-6.89%6 355
IDOM INC.3.60%656