SOURCE: Avis Budget Group, Inc.

Avis Budget Group, Inc.

Avis Budget Group, Inc.

March 17, 2011 16:00 ET

Avis Budget Group and OPENLANE Announce New Features Available to Dealers on OPENLANE.com

Dealers Can Now Search, Bid and Buy VIN-Specific Vehicles With Full Condition Reports Provided by AIM

PARSIPPANY, N.J. and REDWOOD CITY, CA--(Marketwire - March 17, 2011) - Avis Budget Group and OPENLANE, Inc., a leading online auction company in North America serving the automotive dealer resale market, today announced new features available on OPENLANE.com for dealers seeking to purchase Avis Budget Group vehicles. Dealers can now select from a variety of individual vehicles by make, model or Vehicle Identification Number (VIN) directly from Avis and Budget locations, with full condition reports provided by Alliance Inspection Management. 

The enhanced offering provides dealers with more options, including a large selection of Ford vehicles, as well as the ability to receive purchased vehicles faster. Until now, dealers have had the option to purchase vehicles only in bulk quantities using OPENLANE's Order in Fleet tool.

"Avis Budget Group vehicles are quality vehicles and have always been great inventory for us," said B.J. Wagner, used-vehicle buyer for Capitol Ford, Inc. "With the great range of vehicles available anytime, the wide selection of Ford vehicles and the option of purchasing vehicles individually, it's a perfect solution. The process greatly helps my sales cycles and enables me to run my business more efficiently, and therefore, more profitably."

"We have been partners with OPENLANE since 2007 and, in that time, we have created a valuable relationship that gives us access to a much wider network of dealers looking to buy our vehicles," said Greg Thibault, vice president of fleet sales for Avis Budget Group. "We have benefited from the partnership with faster sales cycles and reduced administration efforts. We look forward to continued growth."

"We are excited to expand our partnership with Avis Budget and offer dealers the ability to purchase rental vehicles with full condition reports," said Peter Kelly, president of OPENLANE. "It's a win-win for dealers as they now have the choice of searching, bidding, and buying the exact vehicle for their lots or using the Order in Fleet tool to pre-order and bulk-buy rental vehicles. It's the best of both worlds and continues our mission of being the most efficient online wholesale auction in the industry."

About Avis Budget Group, Inc.
Avis Budget Group, Inc. (NASDAQ: CAR) is a leading vehicle rental operator in the United States, Canada, Australia, New Zealand and certain other regions through its Avis and Budget brands. The Company also licenses its vehicle rental brands in more than 100 countries, enabling Avis and Budget to serve commercial and leisure travelers throughout the world. Avis Budget Group is headquartered in Parsippany, N.J. and has more than 21,000 employees. For more information about Avis Budget Group, visit www.avisbudgetgroup.com.

About OPENLANE
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, BMW Financial Services Canada, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Southeast Toyota Finance, US Bank, Volkswagen Credit, among others. For more information, please visit www.openlane.com or call +1 (866) 969-0321.