KAR Auction Services Rebrands
CARMEL - Carmel-based KAR Auction Services Inc. (NYSE: KAR) has undergone a rebranding. The company, which provides a technology-driven remarketing platform for the wholesale used vehicle industry, says it is now doing business as KAR Global.
KAR Global says the decision follows several years of geographic expansion throughout North America and Europe, as well as the acquisition of new technology and data-driven products and services. The company has some 200 offices in 10 countries, with customers in more than 75 countries.
"At KAR, we have a fast, fearless and entrepreneurial culture, and we've been pioneers in the auction business for decades," Jim Hallett, chief executive officer of KAR Global, said in a news release. "But we're a lot more than just 'auction services.' We're rethinking and reimagining remarketing for our diverse sellers and buyers across the automotive sector."
The company is also celebrating the opening of its $80 million, 250,000-square-foot headquarters in Carmel. Plans for the facility were first announced in 2017.
Last month, KAR Global detailed plans to move its TradeRev business unit to downtown Indianapolis. The company said it is investing $4 million to expand the units headquarters and tech center, creating 200 jobs by 2023.