How does ONEOK make money?
OPENLANE (formerly KAR Global) operates as a digital marketplace for wholesale used vehicle auctions, maintaining a distinct competitive edge when evaluated against traditional physical auto auctions and competing digital dealer-to-dealer platforms. When compared to legacy physical auction lots that require high transportation costs and real estate overhead, OPENLANE provides a fully digital, end-to-end remarketing platform that connects vehicle sellers—such as fleet managers, rental companies, and franchise dealerships—directly with licensed car dealers. Its seamless digital inspection reports, integrated transport logistics, escrow payment security, and advanced artificial intelligence pricing tools streamline wholesale vehicle liquidations much faster than traditional auction houses.
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