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OPENLANE and NIADA Partner to Offer New NIADA-Certification Listings to Dealers on Open Auction

January 24, 2011

New Feature Provides Greater Purchasing Confidence for OPENLANE Dealers across North America


REDWOOD CITY, Calif. – OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced it has partnered with the National Independent Automobile Dealers Association (NIADA) to offer dealers a new “NIADA-Certified” listing category on OPENLANE’s open auction, www.openlane.com. This “lane” of NIADA-Certified cars will provide online buyers and sellers with the comfort that these vehicles have passed the rigorous certification requirements to earn this eligibility and can be retailed with a comprehensive warranty.

As a leading online auction company in North America, OPENLANE provides more than 25,000 registered dealers around the country with the most effective and inventory rich platform for buying and selling high-quality, wholesale used vehicles. OPENLANE provides a number of comprehensive services including transportation, financing, vehicle condition reports and more to ensure that dealers have everything they need for a complete transaction.

With the addition of the NIADA-Certified listing to its broad offerings, OPENLANE buyers can be confident that the vehicles they are purchasing have met the standards set by NIADA since they have passed the stringent requirements outlined by the  Association. The NIADA-Certified Program is available to all dealers nationwide and offers a new standard of protection for wholesale buyers and retail customers. The program provides 12 months and 12,000 miles of comprehensive limited warranty coverage on most vehicles made between 2001 and 2011 and up to 100,000 miles.

“This acknowledgement builds value for NIADA’s Certified Pre-Owned Program, but just as importantly, assures online buyers that they are buying a vehicle of quality,” according to Michael Linn, CEO of NIADA. “Our relationship with OPENLANE reinforces that certified vehicles are worth more money in both the wholesale and retail marketplaces.”

“Certification programs are very important in any vehicle transaction process, especially with the online channel. Not only do they increase buying confidence, but they also enable dealers to command more money for the vehicles when selling via retail channels,” said Ed Berkowitz, Vice President, Open Auction, OPENLANE. “We are excited to partner with NIADA to offer this important enhancement that we expect will increase sale prices and faster time to sale.”

The NIADA-Certification program is administered by National Auto Care (NAC) and insured by an "A" rated company. The program is further supported by detailed implementation and sales training, best practice reviews and includes many point-of-sale tools, including; access to print an online Buyers Guide, marketing collateral, online media kits and a free AutoCheck vehicle history report.

About NIADA

The National Independent Automobile Dealers Association (NIADA), founded in 1946, has represented quality independent automobile dealers for over 65 years. NIADA  assists its members in becoming more successful within the used motor vehicle industry. Through membership in NIADA, members join with over 20,000 other professional auto dealers who share the dream of financial prosperity for your business. NIADA is your legislative advocate — protecting your business interests. The association consistently provides industry education, valuable information, services and benefits designed to prepare members for an ever-changing marketplace. For more information, visit http://www.niada.com.

About NAC

NAC (National Auto Care Corp.) has been developing innovative, value-based aftermarket products and competitive service agreement programs for automotive, power sports, and recreational vehicles for over 27 years now. NAC provides unique access to highly experienced and knowledgeable support staff who provide the top-level of service and support necessary to ensure unlimited success and profitability.

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, BMW Financial Services Canada, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Southeast Toyota Finance, US Bank, Volkswagen Credit, among others.  For more information, please visit www.openlane.com or call +1 (866) 969-0321.

01/24/11

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