OPENLANE: the leading marketplace for innovative, tech-driven car sales and remarketing in Europe
OPENLANE Europe, the European division of the American, publicly traded company OPENLANE Inc., is the forefront marketplace for digital car sales and remarketing in Europe. Grainne van Berkum, President of OPENLANE Europe, elaborates on the company’s positioning in the European market.
OPENLANE connects vehicle traders, car dealers, leasing companies, and car manufacturers with buyers across Europe. The company primarily focuses on electric vehicles (EVs), light commercial vehicles (LCVs), and innovative cross-border services. With a dedicated commitment to making used car wholesale easy, OPENLANE revolutionizes the vehicle remarketing process through a cutting- edge digital marketplace supported by advanced technologies like AI and data analytics. This allows OPENLANE to accurately determine vehicle values and make transactions faster and more transparent. Furthermore, the company provides comprehensive inspection and logistics solutions to ensure that vehicles reach their new owners safely and efficiently.
A dynamic market
For customers active in electric vehicles (EVs) and light commercial vehicles (LCVs), OPENLANE offers specific solutions. “Nearly 1 in 4 cars offered for sale through OPENLANE is an electrified vehicle. Almost half of that supply consists of BEVs. Especially in markets like Scandinavia and the Netherlands, the supply has obviously grown tremendously in the past few years. “We have built a reputation in selling electric cars. And we are also a leader in the LCV segment. That is a very specialized market”. Providing the right information on the many available models and powertrains, handling the correct administrative tasks, and keeping up with market growth is one of our key focuses”, van Berkum explains. “BPM regulations in the Netherlands stimulate market activity, prompting fleet replacements and upgrades, which we can easily support,” says David Van Horenbeeck.
Volatility
The EU market for EVs is currently quite volatile but these vehicles are still finding their way to other countries. OPENLANE supports the remarketing of these vehicles by providing extensive information on their condition, including battery capacity, and by analyzing market-specific supply and demand. This helps customers better respond to the rapidly changing market for sustainable mobility.
Breaking down barriers
An important pillar of OPENLANE’s strategy is its cross-border services. “We are particularly specialized in exporting vehicles,” van Berkum explains. The cross-border services offer support with complex regulations and administrative requirements, such as customs formalities, VAT settlements, and specific BPM rules in the Netherlands. This helps customers introduce their vehicles to new markets more quickly and efficiently than ever. “We have a pool of over 125,000 registered buyers on our platform – they are very loyal buyers. They ensure that we can sell for as much money as possible, as quickly as possible.”
Future outlook
“At OPENLANE, we see the market evolving rapidly. Especially with the growth of leasing companies, an increasing number of used cars will become available, creating new opportunities for both buyers and sellers. Only private sales are under pressure due to rising prices caused by the electrification of the car market. Those buyers will wait longer before making replacement purchases. But from the larger market perspective, the volume will remain more than sufficient. The demand too, by the way.” Legislation also plays a crucial role in OPENLANE’s future strategy. “If regulations make certain cars less attractive for a particular market, we can optimally distribute those cars across Europe. We have all the means to help our partners in smoothly traversing the path to the future with ease”, van Berkum concludes.