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OPENLANE Adds New Features to its Online Wholesale Auction Site in the US

June 23, 2010

OPENLANE.com and OPENLANE.ca Include New Interfaces and Significant New Features for
 

More Efficient Vehicle Remarketing

OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles today announced that it has made significant enhancements to its U.S. open auction site, www.openlane.com, and has launched a new auction site for Canadian customers, www.openlane.ca. OPENLANE’s online auctions provide dealers and consignors in the automotive industry throughout North America with a comprehensive and feature-rich platform for seamlessly buying and selling high-quality wholesale used vehicles. With everything from title processing, vehicle condition reports, transportation and financing options, OPENLANE is an efficient, cost-effective buying and selling channel in the used auto industry.

The new enhancements to OPENLANE.com and the introduction of OPENLANE.ca include a complete redesign of each site’s Vehicle Detail, Search and Bid/Buy Confirm pages, all featuring a fresh, easier-to-read interface.  Dealers and regional sellers will also benefit from site enhancements including a new one-screen web-listing page, which replaces the former five-web page listing process, making it faster and easier to list vehicles.
 
“Our goal is to provide a seamless experience for dealers and consignors who buy and sell quality wholesale vehicles on our open auction,” said Peter Kelly, President and CFO of OPENLANE. “With the new enhancements to both sites, we are evolving our technology to meet the demands of today’s challenging and fast-paced marketplace and serving the needs of our valued customers.”
The newly streamlined OPENLANE.com and OPENLANE.ca sites feature enhancements for ease-of-use and efficiency for both buyers and sellers.
 
For Buyers:
·         New “Comments” Section: Provides more purchase information about each vehicle, including Additional Disclosures, Additional Vehicle Information (Seller-provided), Incentives and Promotions
·         New Camera Icon for “Damage” Information: Links to a picture of vehicle damage noted by the Seller
·         Feedback Widget: Enables users to easily send OPENLANE feedback about the new and improved Vehicle Detail Page or other comments
·         DataScan Field Services Legend: Enables vehicles including a Third Party Inspection performed by DataScan Field Services (DFS) with a user-clickable pop-up legend of DFS’ inspection condition terms will appear in the “Damage Condition” section of the Vehicle Detail Page
·         New “Auction Type” Search Filter: Enables users to search for inventory by “Place a Bid” (auction) or “Buy Now” (fixed price)
·         Select Transport: Provides users with the option to add OPENLANE Transport services to their purchase from the Bid/Buy Confirm page
 
 
For Sellers:
·         New “Comments” Section: Enables sellers to add further detail to their listings, including Additional Disclosures, Additional Vehicle Information, and Seller-provided Incentives and Promotions
·         New “Save and Preview” Feature: Provides the ability to preview a completed listing before  releasing the vehicle to auction
·         Enhanced “Damage” Information: Enables sellers to now add photographs to each Damage line by simply selecting from those previously uploaded
 
 
“OPENLANE.ca is fantastic new site that provides me with more features and functionality,” said Scott Esplen of the Humberview Group. “I have relied on the OPENLANE’s Canadian auction site for 4 years to purchase high quality used vehicles and have been extremely pleased with the efficiency it has added to my dealerships. The new features the company is announcing will provide even greater time and cost savings to me, which is the ultimate benefit any company can give its customers.”

All Canadian customers who formerly accessed their accounts at www.onlane.com will now be redirected to the new Canadian-branded site, www.openlane.ca.
OPENLANE is continually working to bring enhancements to its auction to make the buying and selling experience easier and faster. If you have any questions about the new changes to the U.S. site, please contact OPENLANE at 866-966-0321 or via email at [email protected]  For questions about the Canadian site, contact 866-966-5623 or email [email protected]
 
About OPENLANE

OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles.  The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada.  OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Volkswagen Credit, among others.  For more information, please visit www.openlane.com or call +1 (866) 969-0321.

6/23/10

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