KAR Announces Closing of OPENLANE Acquisition

KAR Auction Services announced earlier this month that it has completed the acquisition of OPENLANE. Peter Kelly will continue as OPENLANE’s CEO and will report directly to KAR’s CEO, Jim Hallett.

Jim Hallett stated, "Finalizing the acquisition of OPENLANE is great news for our employees, customers and other stakeholders and we’re very excited to be able to move forward today as a unified company. Technology has been an essential part of my vision since becoming CEO of KAR and the OPENLANE acquisition will further enhance KAR’s well developed online service offerings. The positive feedback that we’re hearing from customers is absolutely energizing and I believe that we are well positioned to continue to provide the comprehensive end-to-end remarketing solutions that our customers demand."

Peter Kelly added, “I am delighted to see the transaction successfully closed and for OPENLANE to be part of KAR Auction Services. OPENLANE’s online capabilities complement KAR’s existing dealer consignment and e-Business initiatives and uniquely position us in the marketplace to provide our customers with a 'one-stop' shop for all of their automotive remarketing needs."

Analytics Update

The OPENLANE Market Index represents pricing and dealer vehicle interest trends across all vehicle segments in our online marketplace. Highlights for the U.S. include:

• Overall US auction prices in September increased by 1 percentage point from the prior month, and ended even with September 2010.
• Car and SUV prices increased in September versus the prior month, while Minivan and Truck prices decreased.
• The interest level for Cars and Trucks rose during September while interest in Minivans and SUVs decreased. 

Click here to view the OPENLANE Market Index.

Search Interest Report
The OPENLANE Search Interest Report ranks the most common vehicle searches on the Open Auction. This report includes the top 25 ranking for make and model as well as the top 5 ranking for vehicles by body style.

Click here to view the report.


News & Updates

Go Mobile with OPENLANE

OPENLANE’s mobile site is all new and completely redesigned to make purchasing and selling vehicles easier and faster than ever. We’ve added new features for Sellers to manage vehicles currently at auction including:

• Quickly view activity on each vehicle including bids, offers, number of watchers, views, and unique dealer views
• Adjust open, reserve and buy now prices
• Review and manage if-bids and best offers
• Cancel listings

Plus, you’ll get 24/7 access to OPENLANE’s wide selection of wholesale inventory. You can also search for vehicles or place bids directly from your smartphone. You can also track your auction status, track vehicles on your Watchlist, and get full vehicle details - all from the convenience of your mobile device.

Take OPENLANE with you from virtually anywhere. Just type www.OPENLANE.com on your mobile browser and you’ll automatically be redirected to our mobile-optimized site. Try it today!

Dealer Spotlight

David Wollaeger is the President of Grow Automotive in St. Louis, Missouri. Grow Automotive is a small independent dealership that prides themselves in well-reconditioned, unique inventory that stands out. David believes that honesty is number one and customers come first.

“I’ve been using OPENLANE for a few months now and I’m very happy with the high-quality products and service that I consistently get every single time. The personalized service I receive from OPENLANE is unlike any other. Austin is always finding great vehicles at a great price, and Scott is always there to help put a deal together on my listings. I like that OPENLANE has the same values as I do. The service I receive from the OPENLANE team is exactly the quality of service that I provide in my own dealership. I’m looking forward to doing more business together!”

David Wollaeger
Grow Automotive
St. Louis, Missouri

Upcoming Events

OPENLANE is excited to exhibit at these upcoming shows. We look forward to seeing you there!

• California Credit Union Collectors Council Annual Conference on October 13-15 at the Riviera Resort & Spa Hotel in Palm Springs, California.
• Florida IADA Convention on October 13-15 at the Gaylord Palms Resort in Orlando, Florida. Visit us at Booth #17.
• Re3 on November 16th at the Red Rock Casino in Las Vegas, Nevada. Join Zach Hallowell, OPENLANE Business Line Director, on November 16th at 10:00am-10:45am and learn how to sell repos directly from agent lots.

• KAR Closes OPENLANE Acquisition
• OPENLANE Market Index
• Search Interest Report
• News and Updates
• Dealer Spotlight
• Current Incentives
• Customer Service FAQs
• Upcoming Events
  
  

Q: How do I remove a Saved Search? 

A: We’re glad you’re taking advantage of the Saved Search feature! It helps you save time and you can also choose to receive email notifications on units that match your Saved Search criteria. To remove a Saved Search, simply log on to OPENLANE and hover on the “Buy” tab and click on “Saved Searches.” Once your Saved Searches are displayed, click on the “Remove” tab next to the Saved Search you want to delete. For more info, check out our video on the Saved Search feature. Please contact Dealer Services at 866-969-0321 if you have additional questions.



Incentives

• Monster Monday Sales Events
• Order a Third Party Inspection for just $30 per vehicle