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KAR Auction Services Reports Record Online Sales Volumes

16.04.10

A leading provider of vehicle and salvage auction services in North America, today announced a 30 percent increase in online sales volumes for the year ended December 31, 2009 for ADESA, the company's whole car auction services business, as compared to the year ended December 31, 2008. Additionally, the holding company's salvage auction services business, Insurance Auto Auctions (IAA), experienced 9 percent growth in online sales volumes for the year ended December 31, 2009 as compared to the year ended December 31, 2008.

Online sales volumes for ADESA in 2009 reached nearly 390,000 vehicles, which represented slightly more than 19 percent of total vehicles sales for ADESA. Online sales volumes for IAA reached more than 550,000, which represented more than 45 percent of total vehicle sales for IAA. Total online sales volumes for both companies neared the 1 million mark with more than 950,000 vehicles, making KAR one of the largest online sellers of wholesale used and salvage vehicles worldwide.

Source: MarketWatch (press release)

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