Dollar Thrifty Automotive Group Turns to OPENLANE to Sell Off-Rental Vehicles Faster
Order in Fleet Program Allows Dealers to Pre-Order Vehicles from Dollar Thrifty Group at OPENLANE Wholesale Auction Site
August 11, 2009 // Franchising.com // MENLO PARK, Calif.--(BUSINESS WIRE)-- OPENLANE, a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced that it has teamed with Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) to pre-sell its rental vehicles at OPENLANE's online auction site, www.openlane.com. OPENLANE's Order in Fleet program allows dealers to pre-order vehicles prior to being retired from the Dollar Thrifty rental fleet, providing them greater access to a wide selection of Dollar Thrifty's domestic, imported and highline rental vehicles. Through OPENLANE's online auction, Dollar Thrifty now has the most efficient channel for inventory disposal, which will result in a faster return on investment and reduced marketing costs.
As new car sales have fallen due to the economic crisis, more consumers are turning to used cars when considering purchases, thus driving increased demand for used vehicles. OPENLANE's Order in Fleet purchase tool also offers dealers access to a greater selection of used vehicles earlier in the buying process. By pre-ordering vehicles while they are still in Dollar Thrifty's rental fleet, dealers can obtain the vehicles they need faster, without the need for the vehicle to be retired from the rental fleet prior to sale. Dealers across North America will also benefit greatly from the new inventory source available on the site. Through OPENLANE's "virtual" showroom of inventory, dealers will have access to Dollar Thrifty's complete, nationwide inventory spanning a variety of manufacturer makes and models. In addition, the Order in Fleet search tool enables dealers to find the vehicles they want by searching by make, model, year, mileage and location, and also provides the option of purchasing vehicles either individually or by the truckload.
"We're pleased to be working with OPENLANE to offer the Order in Fleet service to OPENLANE's dealer base," said Jeffrey Cerefice, Vice President Fleet Services, Global Franchising and Thrifty Car Sales at Dollar Thrifty Automotive Group. "OPENLANE's auction services provide us with a more efficient and cost-effective way to sell and transport our fleet vehicles by ensuring they're sold before being retired from the fleet, which greatly speeds up and enhances the sales process overall."
"OPENLANE has partnered with Dollar Thrifty Group for a number of years to sell its rental vehicles, and we're pleased to deepen that partnership by providing the Order in Fleet program to facilitate the sale of Dollar Thrifty vehicles even earlier than before," said Daniel Farrar, CEO, OPENLANE. "We're constantly looking for new ways to help our consignors and dealers streamline the process of buying and selling used vehicles. Providing them with the ability purchase vehicles while still in fleet measures up to valuable savings and is a unique service that we consider to be a real competitive advantage."
As part of the Order in Fleet program, purchases of vehicles pre-ordered are normally completed within 5-7 business days, including VIN and vehicle details, thus allowing dealers to floorplan vehicles faster. In addition, all Dollar Thrifty Group units ordered are guaranteed within $300 of being wholesale ready and come with no existing collision, frame, flood or fire damage.
About Dollar Thrifty Automotive Group, Inc.
Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) is a Fortune 1000 company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in over 70 countries. Dollar and Thrifty have over 700 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 6,800 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network.
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, Volkswagen Credit, among others.