OPENLANE Combines BacklotCars, Off-Lease Vehicles into New Marketplace

OPENLANE, Inc., an operator of digital marketplaces for wholesale used vehicles, announced Nov. 20 the launch of its branded U.S. digital marketplace.

The consolidated platform brings together off-lease vehicle inventory from most U.S. commercial sellers with dealer-to-dealer inventory from thousands of franchises and independent dealers previously available on BacklotCars.

The launch of OPENLANE in the U.S. follows the company’s consolidation of its Canadian platforms in June and features technology, data, and product offerings from across the entire company.

“We are advancing our digital strategy with the launch of the OPENLANE U.S. marketplace — featuring all the sellers, all the buyers, and all the cars — all in one place,” said Peter Kelly, CEO of OPENLANE, in a news release. “With exclusive off-lease inventory not available on any other digital platform or physical auction and thousands of vehicles from franchise and independent dealers previously available on BacklotCars, OPENLANE offers a unique and unmatched selection of inventory. And with multiple sale formats, data-driven insights, and a host of integrated products and services, OPENLANE is making wholesale easy for every dealer, every step of the way.”

Available on mobile app and desktop, the OPENLANE U.S. digital marketplace offers multiple, flexible sale formats to align with the buying habits, schedules, and preferences of its customers. Buyers and sellers can choose the auction and sale format that best suits their needs — including a 24/7 bid-ask marketplace, “Buy It Now” listings, and timed auctions scheduled regularly throughout each week.

OPENLANE provides buyers and sellers with comprehensive inspections, a selection of arbitration protection, and buy-back-guarantee offerings. Buyers can also quickly and easily arrange additional services such as floorplan financing and transportation during the checkout process.

“We’ve spent hundreds of hours listening to our customers to understand their expectations, challenges and what they need to be more successful,” said James Coyle, president of North American Marketplaces at OPENLANE. “Our customers want the best selection of inventory, a broad, engaged buyer base, lower fees, higher conversion and a hassle-free experience. And that’s precisely what OPENLANE delivers — from AI-enhanced inspections to proprietary market insights to the day-to-day support from our people. The smallest dealers now have the same reach and visibility as the largest sellers, and every buyer at every price point can source the best inventory for their lot, anytime, anywhere.”

All existing BacklotCars and OPENLANE customers are able to start selling, bidding, and buying on the new U.S. marketplace immediately, and the legacy platforms have been retired.

Originally posted on Automotive Fleet