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KAR Auction Services, Inc.

KAR Auction Services, Inc.

Sector: Automobiles And Other Motor Vehicles Region: IN, United States


: | New York Stock Exchange: KAR


KAR Auction Services, Inc. is a provider of vehicle auction services in North America. It offers auction services for sellers of used or whole car vehicles and salvage vehicles. The company operates its business through three segments: ADESA Auctions, IAA and AFC. The ADESA Auctions segment serves as an international customer base through online auctions and whole car auction facilities in North America, that are developed and strategically located to draw professional sellers and buyers together and allow the buyers to inspect and compare vehicles remotely or in person. ADESA also provides value-added ancillary services including inspections, storage, transportation, reconditioning and titling and other administrative services. The IAA segment serves as a domestic and international customer base through live and online auctions and salvage vehicle auction sites in North America. The salvage auctions facilitate the remarketing of damaged or low value vehicles designated as total losses by insurance companies and charity donation vehicles, as well as recovered stolen vehicles. The AFC segment offers floor plan financing, a short-term inventory-secured financing primarily to independent used vehicle dealers. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.

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