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KAR Auction Services Inc at Bank of America Merrill Lynch Global Automotive Summit (Virtual) Transcript

May 15, 2020 / 09:30PM GMT
Release Date Price: MXN407.23
John Joseph Murphy;Eric M. Loughmiller
BofA Merrill Lynch, Research Division - MD and Lead United States Auto Analyst;KAR Auction Services, Inc. -

Well, thanks, everybody, for joining us late on a Friday afternoon at 5:30 for the last session of our Auto Summit here. We're very happy to have KAR Auction Services. KAR Auction Services is a leader in vehicle auctions in the U.S. and dealer financing. The company has separated from its salvage auction business, so it's a stand-alone whole car business, again, which I think is a very good development, but that business is being augmented by the beginning stages of moving more and more of auctions online and even possibly apps through businesses like TradeRev.

Today, we're very happy to have Eric Loughmiller, Executive Vice President and CFO. And Eric, we really appreciate all the time today, in the course of the day, and doing meetings with investors, and certainly you being a real sport in doing the last session at 5:30. But we have a big audience here, so there's a lot to discuss. So thank you very much, Eric.

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