REDWOOD CITY, CA – OPENLANE, Inc., an online auction company in North America for automotive dealers to buy and sell wholesale vehicles, announced the company has experienced significant momentum with its Certified Auction Partner (CAP) program since its launch in the fourth quarter last year.
Not yet a year old, the program has already signed more than 35 auction partners since the beginning of this year and has set monthly records for growth. Twenty-one independent auction partners signed on with OPENLANE in the month of July alone, each selling a vehicle within their first month of participating in the program. In addition, listings have already grown by 38 percent month over month for the program and have increased 723 percent overall since the beginning of the year.
Similarly, program sales have increased 15 percent month over month and 211 percent overall since the beginning of the year.
The OPENLANE CAP program provides independent physical auction companies with a sales channel for remarketing vehicles that have not sold in the auction lanes at OPENLANE.com, the company’s online wholesale auction. The program allows partner companies to expand their venues for selling vehicles, as well as provides additional revenue streams for independent auction providers. CAP participants not only benefit from the ability to make vehicles available for sale at multiple channels simultaneously, but also obtain double exposure, allowing vehicles to sell more quickly by leveraging a network of more than 25,000 active online dealer buyers at OPENLANE.com. In addition, OPENLANE dealers and consignors can work with CAP partners to remarket their vehicles at participating CAP physical auctions, offering a reciprocal channel for vehicle marketing and selling. All parties benefit from OPENLANE’s offering of value-added service, including marshaling, reconditioning, third-party inspections and transportation services.
Auction partners that have recently joined the CAP program include the following: ABC Birmingham, ABC Bowling Green, ABC Orlando, Central AA, Georgia Carolina AA, Indiana AA, Louisiana 1st Choice AA, Perry’s AA, South Florida AA and Tri-State AA.
“Independent auction companies are already realizing significant benefits from the Certified Auction Partner program and the ability to market their vehicles simultaneously at both their own physical auctions and online,” said Greg Lubrani, Business Line Director, Independent Auctions, OPENLANE. “The tremendous momentum we’re experiencing with this program continues to prove OPENLANE’s leadership in the industry, as well as the impact our programs have on customers and partners for increasing their bottom line.”
“We’ve already experienced a great deal of success partnering with OPENLANE in just a few short months,” said Lisa Fiejo, Internet Marketing Manager, ABC Orlando Auto Auction. “We’ve gained additional exposure for our vehicles and are selling vehicles faster because we can market them at two separate venues at same time. This has been a real win-win for our business.”
“Partnering with OPENLANE has been a mutually beneficial relationship and has allowed us to provide additional services to our own consignor clients, and we can sell vehicles nationwide that typically don’t have a strong market in our physical lanes,” said Don Elliott, General Sales Manager, Indiana Auto Auction. “Our consignors also appreciate that we’re able to provide excellent returns on their vehicles in a shorter amount of time and at less cost, no matter what the channel.”
For additional information on the OPENLANE Certified Auction Partner program, please visit: www.openlane.com/CAP.