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Openlane Creates Virtual Showroom
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 Openlane Inc. announced a collaborative partnership with automotive solutions provider Auction123 Inc. to create the Virtual Showroom Service.
This new service is a lead generation tool that enables participating dealers to display thousands of off-lease, fleet, rental, repossessed and dealer-consigned vehicles listed on Openlane.com each day on their own websites. Powered by Auction 123, Openlanes Virtual Showroom Service seamlessly integrates with the participating dealers existing website, enabling the dealership to display a searchable database of vehicles that have been recently listed for sale on Openlanes wholesale, open auction website. The participating dealer can filter thousands of recently listed off-lease, fleet, rental, repossessed and dealer-consigned vehicles by multiple attributes, including geographic location, year, make, model, price and distance. This enables the participating dealerships to tailor the service to their own market and display on their existing website only those vehicles that best suit their particular customer base.
Because Openlane.com is a purely wholesale auction, the wholesale auction price is not displayed through the Virtual Showroom Service and retail customers cannot purchase vehicles through the OPENLANE.com open auction. Instead, the participating dealer uses the Virtual Showroom Service as a lead generation tool. If a retail consumer expresses interest regarding a vehicle to the dealer, the dealer handles all communications and questions directly with the potential customer. The participating dealer would then purchase the vehicle through the Openlane.com open auction just as the dealer would for any other vehicle purchased through the auction. (The dealers purchase of the vehicle cannot be contingent on the retail customers interest in or subsequent purchase of the vehicle. In addition, because the Openlane.com open auction is a live auction, there is no guarantee that the desired vehicle will be available for purchase at the time the dealer elects to purchase it.)
The participating dealer then takes delivery of the vehicle and can resell it to the retail customer.
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