Pivotal Point Tracking Openlane: After Successful Restructuring, on the Rise - Online Car Dealer Benefits from Digitalization!
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Openlane (formerly KAR Auction Services) is an online marketplace that facilitates digital wholesale of used vehicles. The company connects car dealers with auction houses and provides a platform for buying and selling vehicles. It benefits from the digitalization in the automotive industry, as more and more transactions are conducted online. The company has also focused on online trading, which is reflected in a rising gross profit margin of 11.2% in the last quarter. The restructuring also led to a decrease in debt from $1 billion to $630 million....
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