OPENLANE iQ provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces.
KAR Auction Services, Inc. announced today that its subsidiary, ADESA, Inc., has signed a definitive agreement to acquire the equity of OPENLANE, Inc., a leading Internet-based business-to-business automotive remarketing company.
Avis Budget Group and OPENLANE Inc. enhanced the remarketing website to allow dealers to search, bid and buy VIN-specific vehicles with full condition reports provided by AIM.
Peter Kelly, Co-Founder, President and former CFO of OPENLANE, takes on the new role effective immediately.
The two companies have expanded their partnership to begin offering Avis Budget Group vehicles on OPENLANE's Canadian auction site.
In its February Market Index report, Openlane reports that car prices decreased in January but remained above January 2010 levels. Minivan prices and interest spike.
The 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.
Ford and Lincoln Mercury dealers can conduct online purchases of off-rental vehicles with their existing Ford Signature Floorplan or Ford DEFT accounts.
The new-vehicle retail market is expected to grow in 2010, with trade-in volume at dealerships improving, but the used-car retail market is expected to remain flat this year.
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