The successful remarketing of a vehicle is all about obtaining an optimal price, which in turn is a result of finding the right match between supply and demand. By combining international activities with a great deal of attention for the local market, OPENLANE makes the difference. A portrait.
"We are not car dealers," emphasizes Lars Agten, Belgium Country Manager at OPENLANE. "We do, however, offer a service that tries to obtain the best possible price for a vehicle." It is a first misunderstanding that has already cleared the world. “Our company is also a pure B2B player, be it the seller or the buyer. Our sourcing only takes place at professional players, lease companies, car dealers, but also classic dealers and fleet owners. Anyone who wants to buy from us must in turn be a recognized seller, regardless of whether they are active domestically or abroad.”
Digital sales process
“Our services for the customer are purely digital,” Agten continues. “We take care of the practical side and everything that comes with it. Our goal is maximum success for the customer, which can go very far. If the expertise is lacking to determine the condition of a vehicle, one of our people can come and do it on site. If the customer wishes, we can take care of the entire process of the sale, from the inspection that I just mentioned to the sale and delivery to the buyer. From transport to de-letting the vehicle, if necessary.”
“In the next phase, the vehicle is the object of an auction,” explains Lars Agten. “An auction runs for an average of 48 hours, during which interested buyers can place their bid. When the auction closes, we communicate the highest offered price to the seller. If the price is agreed upon, then we have a sale. But if the seller is not satisfied with the result obtained, we can offer the car in a 'Buy now' auction, where the selling party can achieve the minimum price and the buyer is sure that the car will be allocated: a win-win.”
“And what do we earn from? Simply on a commission that is charged on the sale. The exact amount depends on the price obtained for the vehicle. This working method is transparent and gives the customer assurance that an optimal price is obtained.”
International dimension
“About 97% of our sales are cross-border,” Agten highlights. “In other words: at the end of the journey, the vehicle will be given a second life in another European country. This international approach is also OPENLANE’s strength. The sale of a vehicle is always a matter of supply and demand that must come together. Our way of working increases the chance that both will find themselves at a more favorable price. The European mutual differences are real, not least in the field of taxation. This creates a reality that certain types of vehicles that are difficult to sell in one country are easier to sell elsewhere. We convert that fragmentation into added value.”
Think global, act local ...
“We are a multinational with an SME mentality,” emphasizes Agten. “This translates into strong support from local sellers. The phrase 'How far would you go for one more car?,’ touches the core of our DNA. At OPENLANE, every car counts, regardless of the size of the customer.”
TRAXIO Magazine 194 // OPENLANE publication