WEST CHESTER, PA, October 12, 2011 – HomeNet Automotive, a leading provider of automotive inventory merchandising, management, and marketing services, today announced that it has collaborated with OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, to offer HomeNet dealers an easy and efficient way to list and wholesale their aged
inventory.
Dealers using HomeNet’s flagship product, the Inventory Online (IOL) Vehicle Marketing Suite, can now publish selected used vehicle inventory on OPENLANE’s Open Auction to sell their vehicles wholesale to a nationwide audience of more than 25,000 franchise and independent dealers on a 24–hour basis, 7 days a week.
Through this partnership, HomeNet users now have a quick and seamless way to control the distribution of both retail and wholesale units from one convenient platform, saving time and money and providing maximum exposure for vehicles for sale. From within IOL, 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.
“Partnering with OPENLANE provides HomeNet’s dealers with an efficient way to list their wholesale vehicles, any time, any day, while they’re still on the lot,” said Andy McBride, VP of Operations at HomeNet Automotive. “By allowing dealers to simultaneously market their vehicles to both retail and wholesale markets, dealers can maximize their alternatives—and their chances of a quick sale while reducing depreciation and transport costs to and from physical auctions.”
In addition, OPENLANE handles the sales from end-to-end, including all payments, title transfers, and arbitration, making the process for dealers effortless. HomeNet users can also utilize a single sign-on so they may transfer any vehicles from IOL directly to OPENLANE’s listing with one simple click of a button.
“Integrating HomeNet’s IOL with OPENLANE helps unite the retail and wholesale sides within auto dealerships, reducing turn-time which has become more and more critical to efficient operations,” said Ed Berkowitz, Vice President, Open Auction at OPENLANE. “We’re continually looking to partner with complementary service companies like HomeNet to help us bring an even fuller set of value-added services to the dealers who rely on OPENLANE on a daily basis to source their inventory.”
About HomeNet Automotive
HomeNet Automotive helps the automobile industry save time and sell more vehicles. It is the leading provider of inventory merchandising, management, and marketing services, led by its flagship product, Inventory Online (IOL) Internet Marketing Suite. IOL streamlines the process of converting raw vehicle data into consumer- friendly and emotional online ads for 2.5 million cars each day and distributes those ads to thousands of online destinations like AutoTrader.com, Cars.com, YouTube, Facebook, and dealer websites. With 130 employees, HomeNet is a wholly-owned subsidiary of AutoTrader.com and is based in West Chester, PA, with offices across the U.S. For more information, please visit www.homenetauto.com or call (877) 738-3313.
About OPENLANE
OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease, and daily rental companies, financial institutions, and wholesale auto auctions throughout the United States and Canada. OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, and Volkswagen Credit, among others. For more information, please visit http://www.openlane.com or call +1 (866) 969-0321.
