Company description

KAR Auction Services, Inc. (ticker: KAR) is a leading provider of vehicle auction services and technology solutions for the automotive industry. Founded in 2006, the company has grown to become one of the largest and most diverse automotive remarketing companies in the world, with operations in North America, Europe, and the United Kingdom. KAR's core business is conducting live and online auctions for used and damaged vehicles, facilitating the sale and purchase of over 5.7 million vehicles annually. In addition, KAR offers a wide range of technology solutions, including vehicle inspection and certification, fleet management, and data analytics, to assist clients in optimizing their remarketing processes. The company's customer base includes used car dealers, fleet and lease companies, rental car companies, financial institutions, and OEMs. KAR prides itself on its commitment to innovation and continuous improvement, constantly seeking new ways to enhance the customer experience and increase operational efficiency. With a strong reputation for integrity and accountability, KAR is dedicated to delivering exceptional value to its customers and shareholders.