New OPENLANE Canada Expands Reach and Access
While Simplifying Buying and Selling Experience
CARMEL,
Ind., June 20, 2023 /PRNewswire/ -- OPENLANE,
Inc. (NYSE: KAR), a leading operator of digital marketplaces for
wholesale used vehicles, announces the integration of ADESA Canada
and TradeRev into the all-new consolidated OPENLANE Canada
marketplace. The unified platform brings together the best of both
offerings to create Canada's
largest digital wholesale marketplace for used vehicles, providing
both buyers and sellers greater flexibility and convenience while
making it easier than ever to transact.
"We're all about making wholesale easy so our customers can be
more successful—and with the launch of OPENLANE Canada, easy just
got easier," said James Coyle, EVP
and chief digital officer of OPENLANE. "Whether you are online, on
your phone or on the ground, OPENLANE Canada puts customers in the
driver's seat to buy and sell your way. And with thousands of
active users and tens of thousands of vehicles, all in one
place—OPENLANE is the best marketplace for buyers and sellers."
OPENLANE Canada provides buyers with expanded access to more
inventory, and on average features more than 60,000 vehicles listed
each month—from high-mileage vehicles to luxury models and
everything in between. For sellers, the consolidated marketplace
provides instant reach to a broader buyer base—now Canada's largest network of active
buyers—ensuring the best possible market returns on their
inventory.
"We worked closely with our customers to understand and build
what's most important to them, and are incredibly proud to offer
the industry's only 24/7, multi-channel, full-service marketplace,"
said Mark Endras, SVP product at OPENLANE. "With smart and reliable
condition reports, intuitive search options, integrated data
insights, and one-click access to add-on services, OPENLANE Canada
makes it fast and easy for customers to list, bid, buy and sell
with confidence."
Available on both desktop and mobile app, OPENLANE Canada
customers can choose the auction and sale format that best suits
their needs—from always-on 45-minute auctions and scheduled
simulcast live auctions to 24/7 bid and buy now listings. During
checkout, buyers can also arrange for post-sale inspections,
reconditioning, transport and other services. Starting in
September, dealers will also have the option to subscribe to
OPENLANE Pro, which offers discounted fees as well as free access
to both the OPENLANE Market Guide and OPENLANE's white label retail
tools.
As part of the marketplace unification, the company's
coast-to-coast network of vehicle logistics centres—which offer
inspections, reconditioning, mechanical services, storage and
more—will also rebrand to OPENLANE Canada.
Existing ADESA Canada and TradeRev users will be migrated to the
new OPENLANE Canada marketplace in phases starting immediately,
with migration expected to complete by early Q4 and at which time
the legacy marketplaces will sunset.
For more information about OPENLANE Canada, visit
openlane.ca.
About OPENLANE
OPENLANE, Inc. (NYSE: KAR) provides
sellers and buyers across the global wholesale used vehicle
industry with innovative, technology-driven remarketing solutions.
OPENLANE's unique end-to-end platform supports whole car,
financing, logistics and other ancillary and related services. Our
integrated marketplaces reduce risk, improve transparency and
streamline transactions for customers around the globe.
Headquartered in Carmel, Indiana,
OPENLANE has employees across the United
States, Canada,
Europe, Uruguay and the
Philippines. For more information and the latest OPENLANE
news, visit corporate.openlane.com.
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SOURCE OPENLANE