August 2010 Issue
  New OPENLANE Features and Enhancements

New! Price Drop Notification e-mails
OPENLANE is announcing an exciting new feature that enables buyers to stay aware of favorable price changes for vehicles in their Watchlist - Price Drop Notification! This new feature provides buyers with convenient automated e-mail notifications whenever an Open Auction seller/consignor reduces the OPENING BID for a vehicle in their user-selected Watchlist.

How it works:

  1. Add a vehicle to your Watchlist from the "Search Results" page or "Vehicle Details" page by clicking on the "Add to Watchlist" link
  2. Every half-hour, from 3:15am - 5:45pm PST, Monday - Friday, OPENLANE will search for reductions in the OPENING BID for vehicles that appear in your Watchlist
  3. When the OPENING BID is reduced by the seller/consignor for the vehicle(s) in your Watchlist, OPENLANE will automatically generate an email summarizing the information for the affected VIN(s)
  4. If you DO NOT wish to receive these Price Drop Notification emails, you may opt-out from the "My Account" tab after logging on to OPENLANE.com (or OPENLANE.ca). A link taking you directly to your "My Account" is also provided at the bottom of each Price Drop Notification email.
  5. Price Drop Notification is a feature available to buyers on both OPENLANE.com and OPENLANE.ca

Buyers will receive these Price Drop Notification emails by default - simply place vehicles in your Watchlist to enjoy this new feature that will help you take advantage of updated buying opportunities! Please contact OPENLANE if you have any questions.

A Fast and Easy Way to Improve Your Wholesale Process - HomeNet Integration with OPENLANE
OPENLANE is excited to announce that it has collaborated with HomeNet Automotive, a leading provider of automotive inventory merchandising, management, and marketing services, to offer dealers an easy and efficient way to list and wholesale their aged inventory.

Dealers using HomeNet's flagship product, the Inventory Online Internet Marketing Suite (iOL), can publish selected used vehicle inventory on OPENLANE's Open Auction to sell their available wholesale vehicles to a nationwide audience of more than 25,000 franchise and independent dealers on a 24-hour basis, seven days a week. From within iOL, selling dealers are able to publish their wholesale used vehicle units to OPENLANE's Open Auction with one simple click and manage their entire online inventory from one centralized location. HomeNet users can also utilize a single sign-on so they may transfer vehicle inventory from iOL directly to OPENLANE's listing with one simple click of a button.

OPENLANE is also offering a special incentive to HomeNet Automotive dealers who use the service during the months of July and August. All HomeNet dealers that use iOL to list and sell three vehicles through OPENLANE's Open Auction between July 15 through August 31, 2010, will receive a $300 AMEX gift card.

Are you a HomeNet dealer? Then get started today! Contact HomeNet, by calling (877) 738-3313 or e-mail salesteam@homenetauto.com.


News & Updates

OPENLANE acquires Recovery Database Network, Inc.
On August 5th, OPENLANE announced that it acquired Recovery Database Network, Inc. (RDN), a specialized provider of software and data solutions related to the recovery of assets for the automotive finance industry. RDN provides a software platform that links auto lending institutions with recovery companies to expedite the recovery of vehicles. RDN leads the recovery software market, processing more than 3.5 million recovery assignments per year, with 90 percent of all recovery companies using RDN software for managing assignments.

OPENLANE's acquisition of RDN will provide users with a combined best-in-class technology solution that offers recovery agencies and their lenders a full-service option for obtaining vehicle assignments and remarketing them from one convenient location online. Participating recovery agencies will benefit by providing their clients with a complete set of end-to-end recovery services, from repossession through remarketing, without the extra time and costs associated with transporting vehicles. The combined solution also offers increased transparency throughout the remarketing process, allowing recovery agencies and lenders to access real-time data for all vehicles at any time.

RDN will be managed as an independent subsidiary of OPENLANE, with the existing RDN team continuing in place.


Analytics Update

OPENLANE Market Index
The OPENLANE Market Index represents pricing and dealer vehicle interest trends across all vehicle segments in our online marketplace. August 2010 highlights for the U.S. include:

  • Overall weekly US auction prices decreased 3 percentage points in July vs. June, continuing to indicate emerging pricing weakness.
  • Pricing for all body styles declined in July versus prior month, but still represented year-over-year gains with the exception of Trucks.
  • July interest in SUV remained essentially flat compared to the previous month, while pronounced upswing in Minivan interest continues in July; Car and Truck interest drop off slightly versus prior month levels.
Click here to view the OPENLANE Market Index.

Weekly Auction Results (WAR) Report
Stay abreast of the online wholesale market with OPENLANE's new "WAR Report" - the only source of wholesale auction data specifically for OPENLANE sales.

Click here to view the partial report. Login to OPENLANE.com to view the complete report.


Search Interest Report
The OPENLANE Search Interest Report ranks the most common vehicle searches on the Open Auction. This report includes the top 25 ranking for make and model as well as the top 5 ranking for vehicles by body style.

Click here to view the report.


Upcoming Events

OPENLANE is excited to exhibit at this upcoming show. We look forward to seeing you there!

  • American Recovery Association (ARA) 46th Annual Convention - September 30 - October 2, 2010, Wynn Las Vegas, Las Vegas, NV


     In this Issue:
  • New OPENLANE Features
    and Enhancements
  • News and Updates
  • OPENLANE Market Index
  • Weekly Auction Results Report
  • Search Interest Report
  • Upcoming Events
  • Customer Service FAQs
  • Current Incentives
  • Contact Us

Customer Service FAQs

Q: How do I reach Customer Service?

A: There are three ways that you can contact Customer Service:

1. Use our new instant chat feature. Simply click on the "Live Support Online" link on the top portion of the Home and Buy pages.
2. Send Customer Service a case. To access the Customer Service Portal, open your "My Transactions" tab and click on "Open a new ticket".
3. Call Customer Service at 866-969-0321. Customer Service is available Monday-Friday from 6:00 AM - 5:30 PM PST and Saturday from 9:00 AM - 2:00 PM PST.


Incentives

Take advantage of these limited-time promotions today. Click here for details.

  • $250 - $2,000 On Select Fleet Inventory
  • Get Up To $150 On Your Purchase When You Select CarsArrive Transport
  • 50% Transportation Assistance from Audi Financial Services and Volkswagen Credit


Contact Us

OPENLANE
Phone: 866-969-0321
Fax: 480-393-2960
Email Us

For questions or comments about this newsletter, send an email to news@openlane.com.

 


 



 Programs subject to change without notice. All rights reserved. © 2010 OPENLANE, Inc. OPENLANE and the OPENLANE logo are trademarks or registered trademarks of OPENLANE, Inc. in the United States and other countries, and may not be reproduced or used without written permission. The names of other companies, products and services may be the property of their respective owners. Contact 866-969-0321 for questions.