Openlane Celebrates 20 Years

Openlane is celebrating its 20-year anniversary as the largest upstream remarketing platform for OEM, captive finance, financial institution, and fleet customers, the company announced.

As part of its 20-year anniversary, Openlane has a series of new enhancements, releases, and promotions planned for the duration of this year.

One of those upcoming enhancements is a self-inspection capability for the platform that, the company states, will benefit customers beyond traditional remarketing by better connecting them with dealers and retail customers throughout the lease life-cycle.

"The Openlane acquisition was a special milestone for KAR that ignited the digital transformation for our company and really, for the entire industry," said Jim Hallet, chairman and CEO for KAR.

As a platform, Openlane provides data analytics and comprehensive technology solutions for more than 40 upstream marketplaces supporting 80% of North America's private label brands.

In 2011, KAR Auction services acquired Openlane, and over the last 12 months, has facilitated the sale of more than 1 million vehicles on behalf of its customers.

Over the past two years, KAR has made investments in Openlane to accelerate the deployment of new enhancements and to integrate capabilities from across KAR. A new vehicle smart search functionality streamlines dealer buying and a DRIVIN-powered recommendations engine matches supply and demand to help customers make faster and better informed decisions.