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."

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

• During September, overall Canadian auction prices increased by 6 percentage points and ended 10 percentage points above September 2010 levels.
• Prices for all vehicle segments increased in September from the prior month.
• Car and Minivan interest increased in September while interest in Trucks declined sharply versus the prior month.  SUV interest held even with August. 

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.

Baycorp Auto Sales located in Guelph, Ontario is an independent dealership owned and operated by a father and son team. John and Aaron Pirico have been using OPENLANE to buy and sell wholesale inventory since February 2009.

“We absolutely love the convenience and ease that comes with buying and selling with OPENLANE. We get double exposure when we list our vehicles online while they are on our retail lot. We simply remove the listing if it sells in our store. Plus, they have fresh inventory daily with complete inspection reports and digital pictures. OPENLANE is our one-stop shop!”

John and Aaron Pirico
Baycorp Auto Sales
Guelph, Ontario

• KAR Closes OPENLANE Acquisition
• OPENLANE Market Index
• News and Updates
• Dealer Spotlight
• Current Incentives
• Customer Service FAQs

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 866-966-5263 if you have questions.

Incentives

• $100 Auction Credit on Select Rental Inventory!