The absence of cars in lanes was one reason KAR Global was able to report a third-quarter profit, despite lower revenue.
Gaining efficiencies by going digital is part of a strategy that was accelerated by the coronavirus pandemic and is unlikely to change anytime soon, CEO Jim Hallett said.
"We are 100 percent digital, and we have no plans to return to running cars," Hallett told investors in a conference call Wednesday.
Shares of KAR closed Wednesday's trading up 1 percent to $16.41.
Hallett had already been shifting the auction company in a more digital direction before the pandemic hit, citing safety concerns around cars and trucks running through lanes. In March, as COVID-19 cases were rising in the U.S., KAR shuttered auction operations before resuming them as all-digital sales in April.
Many employees who supported sale-day operations have been let go. In March, KAR had 15,000 active employees. By early April, it had furloughed some 1…