-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U5MItYYFDaisa3Ey7waARCXAAW7girHcW1uctMKExhwj72TRwG7osF9AjalwP9hP m4b3pw9rK9GjianQ+XckSg== 0001193125-10-085736.txt : 20100419 0001193125-10-085736.hdr.sgml : 20100419 20100416175841 ACCESSION NUMBER: 0001193125-10-085736 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100416 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100419 DATE AS OF CHANGE: 20100416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KAR Auction Services, Inc. CENTRAL INDEX KEY: 0001395942 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 208744739 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34568 FILM NUMBER: 10755763 BUSINESS ADDRESS: STREET 1: 13085 HAMILTON CROSSING BOULEVARD CITY: CARMEL STATE: IN ZIP: 46032 BUSINESS PHONE: (800) 923-3725 MAIL ADDRESS: STREET 1: 13085 HAMILTON CROSSING BOULEVARD CITY: CARMEL STATE: IN ZIP: 46032 FORMER COMPANY: FORMER CONFORMED NAME: KAR Holdings, Inc. DATE OF NAME CHANGE: 20070409 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 16, 2010

 

 

KAR Auction Services, Inc.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware   001-34568   20-8744739
(State of Incorporation)   (Commission File Number)  

(I.R.S. Employer

Identification No.)

13085 Hamilton Crossing Boulevard

Carmel, Indiana 46032

(Address of principal executive offices) (Zip Code)

(800) 923-3725

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 7.01 Regulation FD Disclosure.

On April 16, 2010, KAR Auction Services, Inc. (the “Company”) issued a press release relating to the Company’s online sales volumes.

A copy of the Company’s press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference in its entirety.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit

Number

  

Description

    
99.1    Press release dated April 16, 2010                            


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: April 16, 2010    KAR Auction Services, Inc.
   /s/ Rebecca C. Polak
    
   Rebecca C. Polak
   Executive Vice President, General Counsel and Secretary


EXHIBIT INDEX

 

Exhibit

Number

  

Description

    
99.1    Press release dated April 16, 2010                            
EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

 

April 16, 2010

 

For Immediate Release

Eric Loughmiller

Executive Vice President and Chief Financial Officer

   LOGO   

(317) 249-4254

eric.loughmiller@karauctionservices.com

     

 

KAR Auction Services Reports Record Online Sales Volumes

Carmel, IN—KAR Auction Services, Inc., (NYSE: KAR) 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.

“Customers have different buying and selling preferences and KAR is committed to providing them with auction services during every stage of the remarketing process—regardless of where the inventory is located—as well as through every possible channel, online or at our 215 physical whole car and salvage auction locations,” said Benjamin Skuy, executive vice president of international markets and strategic initiatives for KAR.

Dealers are utilizing both the electronic systems and physical sites in record numbers. Recently, the company’s whole car unit received two of Auto Dealer Monthly’s prestigious Dealers’ Choice Awards—top place for purchasing inventory online and second place for brick-and-mortar auctions.

“We have dedicated substantial resources to our platforms—LiveBlock, DealerBlock and i-Bid Live—in order to enhance our online remarketing options,” Skuy said. “In addition, we continue to develop products and services for the entire remarketing industry through our wholly owned subsidiary, LiveBlock Auctions International.”

About KAR Auction Services

KAR Auction Services, Inc. (NYSE: KAR) is the holding company for ADESA, Inc., a leading provider of wholesale used vehicle auctions whose operations span North America with 62 used vehicle sites, Insurance Auto Auctions, Inc., a leading salvage auto auction company whose operations span North America with 153 sites and Automotive Finance Corporation, a leading provider of floorplan financing to independent and franchised used vehicle dealers with 88 sites across North America.


Forward Looking Statements

This press release may include information that could constitute forward-looking statements. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company’s Securities and Exchange Commission filings. Past results of the Company are not necessarily indicative of its future results. The Company does not undertake any obligation to update any forward-looking statements.

###

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