ServNet has added FastLane Auto Exchange, a Michigan-based auction, to its network of auctions, making it the auction group’s 23rd location nationwide, the company announced.
FastLane Auto Exchange has been in operation since 1978. In 2017, it was purchased and under the new leadership, the auction expanded from running 100 vehicles over one lane during a weekly sale to running over 700 vehicles on eight lanes during weekly sales.
An average of 360 dealers attend the auction’s weekly sale, which occurs every Wednesday afternoon.
The auction credits the integrated services it offers for its large growth. FastLane Auto Exchange handles all aspects of the auction process for its Canadian dealers, which make up nearly 43% of its dealer base. These aspects include transport, registered importing, speedometer conversion, and title exchange, in addition to body, mechanical, recon work, and upstream and in-lane exposure.