As I reflect on OPENLANE’s 20th anniversary, it’s quite remarkable to think how far we’ve come. The growth and digital evolution we’ve experienced is incredible.
In collaboration with our many long-standing commercial customers, we’ve changed the way auto remarketing gets done.
The proof is in the numbers. From humble beginnings with transactions in the thousands, we’ve grown to facilitate the sale of 1.2 million vehicles in 2018 – twice the number of vehicles sold on OPENLANE in 2014. We couldn’t have done it without several industry-first platform enhancements and integrations that continuously improve the customer experience.
Some recent examples of platform improvements include:
- Mobile Vehicle Turn-in tools that streamline the lease turn-in process — customers can use a smartphone or tablet to complete the turn-in process
- Responsive Web Design allows customers full access to the site on any device: desktop, laptop or smartphone
- Natural Language Search mirrors what is used by the world’s leading technology and e-commerce companies — customers can search for vehicles with non-specific descriptions and potential misspellings
- Vehicle Recommendations uses data science to regularly analyze the dealer’s local market and make vehicle recommendations specific to them — giving customers cars that may sell more quickly and may yield a better return
- Real-time Inventory Solutions, powered by algorithms, presents buyers with available vehicles that are specifically tailored to their purchase history and consumer buying trends in their local and regional markets
- Improved Navigation makes it easier for customers to search the site and more quickly find the vehicles they want
All these innovations and enhancements are enabled by OPENLANE IQ, the number-one digital remarketing platform in the world. With agile development and scalable technology, we’ll continue to invest in the platform so it continues to provide the most robust, cutting-edge remarketing solutions for our customers.
Of course, all this world-class technology is only part of the story. Leveraging these capabilities to build deep connections with our customers is an experienced and dedicated group of OPENLANE team members that are helping, once again, to transform our industry.
We’re excited to see what the next 20 years hold for us.