Carmel-based auto-sales heavyweight KAR Auction Services Inc. rebranded itself as of Monday as KAR Global to emphasize its international footprint and its wide-scale expansion of data-driven products and services.
KAR, which specializes in auto auctions and related services such as inspections, reconditioning and inventory financing, has approximately 15,000 employees across the United States, Canada, Mexico, United Kingdom and Europe. It has served customers in transactions spanning more than 70 countries.
“We’re rethinking and reimagining remarketing for our diverse sellers and buyers across the automotive sector. These global customers want global solutions—and that’s what KAR Global delivers,” said Jim Hallett, chairman and CEO, in a media release.
KAR’s roots in the physical auction industry go back decades. But it has been investing heavily in its digital capabilities as the business shifts to online sales and the use of data allows firms to strengthen and expand business relationships with buyers and sellers.
The rebranding of the company coincides with the debut of its new, $80 million headquarters in Carmel. The five-story, 250,000-square-foot building houses about 900 workers and features an expansive fitness center, a medical clinic, an upscale cafeteria and a Starbucks.
KAR went public in 2009. It will continue to trade on the New York Stock Exchange under the ticker symbol “KAR.”
Shares rose 10 cents by late Monday morning to $24.73.