Openlane Inc (NYSE:KAR)
$ 17.98 0.03 (0.17%) Market Cap: 1.95 Bil Enterprise Value: 2.23 Bil PE Ratio: 0 PB Ratio: 1.46 GF Score: 80/100
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Openlane Inc at JPMorgan Auto Conference Transcript

Aug 10, 2023 / 12:45PM GMT
Release Date Price: $14.68 (-3.17%)
Rajat Gupta
JPMorgan Chase & Co, Research Division - Research Analyst

Great. Good morning, everyone. Thanks for joining. My name is Rajat Gupta. I'm a member of the automotive equity research team at JPMorgan. Very pleased to have with us the team from OPENLANE, Peter Kelly, CEO; and Brad Lakhia, CFO. Peter has a few prepared remarks and a small slide deck, after which we can dive into Q&A. Thanks, Peter.

Peter J. Kelly
OPENLANE, Inc. - CEO & Director

Good morning, Rajat. Thank you very much. Thank you all for being here and for your interest in our company, really appreciate it. Yes, just a few remarks to start off and then we'll get into a discussion here with Rajat.

So OPENLANE, we are a digital marketplace leader for wholesale used vehicles. So I just want to speak about the wholesale used vehicle market and then our digital positioning, just to give you some context. So wholesale used vehicle marketplace, first of all, if we go back to 2019, pre pandemic, industry volumes in that marketplace, approximately 15 million units per annum

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