On the call, Openlane CEO Peter Kelly said the company continues to work on consolidating its marketplaces.
In late June, the company launched its Openlane-branded marketplace in Canada. That entailed migrating customers from its ADESA and TradeRev legacy marketplaces over a four-week period, Kelly said.
Openlane also finalized plans to integrate its commercial and dealer vehicle inventory into a single Openlane-branded marketplace in the U.S., its largest market, through the fourth quarter, Kelly said. He indicated the company will rebrand