UK – Developing and deploying the digital solutions our customers want, need and value the most

Jun 08, 2022

Last month our parent company, KAR Global, completed the sale of its OPENLANE US physical auction business to Carvana.The sale included all OPENLANE US physical auction sites, operations and staff at 56 OPENLANE US vehicle logistics centres and use of the marketplace in the US.

The completed transaction advances KAR’s digital strategy, enhances the company’s financial profile and better positions the company and its industry-leading digital marketplaces for accelerated growth.

For us here at OPENLANE UK, it is very much a case of business as usual as we have only ever operated in the digital remarketing space. Strategically, it means we are even more closely aligned with our parent company and its OPENLANE Europe and OPENLANE Canada businesses.

The significance of this move and what it means to our current and future business operations is best encapsulated by Peter Kelly, CEO of KAR Global, who said:

“We believe the future is digital, and the channel shift towards digital across our industry is gaining momentum. KAR is now better positioned than ever to lead this evolution and capture the broad opportunities ahead.

“Our new, more simplified business model allows us to focus our strategy, energy and investments on developing and deploying the digital solutions our customers want, need and value the most.

“We believe expanding our capabilities and the portfolio of services we provide will generate the greatest benefits for those customers, increase our market share and, ultimately, deliver the greatest value to our shareholders.”

OPENLANE UK would like to thank all our fleet, leasing, OEM and dealer customers for their continued support as we embark on this exciting new chapter as part of a digitally focused global remarketing business.