Openlane Inc - Company Profile
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Business Description
Openlane Inc (Openlane) is a provider of vehicle auction services. The company sells new and used cars and vehicles through auction locations. It also provides value-added services, including inspections, transportation, reconditioning, collateral recovery, titling, marshalling and floor plan financing.
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Business Segments
Overview
Provides short-term inventory-secured financing, such as floorplan financing to independent used vehicle dealers across North America. Generates revenue from fees, including floorplan, curtailment, origination, and other related program fees.
Performance
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Overview
Provides car auctions and related services in North America and serves domestic and international customer base through live and online auctions. Also offers various services such as dealer registration, storage of consigned and purchased inventory, arbitration of disputes, clearing of funds, photo services, auction vehicle registration, condition report processing, post-sale inspections, title processing, pre-sale lineups, auctioning of vehicles by licensed auctioneers, sales results reports, security for consigned inventory and transportation services. Offers online services including, ADESA Simulcast, Simulcast+, ADESA.com, TradeRev, BacklotCars, and DealerBlock.
Performance
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Geographical Segments
Target Markets
Canada, the UK, Continental Europe, and Mexico.
Performance
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Target Markets
Entire US.
Performance
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