Online used-car trading platform Otolane recently announced an exclusive partnership agreement with Le Parking, a European pre-owned vehicle listing data mining platform.
“The launch of Le Parking in Canada and the U.S. will not only best serve the interest of consumers. It will also help car dealers and manufactures get a clear view of a vehicle’s real market value at any phase of its lifecycle and position their future products accordingly,” said David Sorger, CEO of Otolane, in a written release.
Le Parking will provide data-driven solutions which produce key market indicators such as interest, time to sell, churn rate for trade-ins, average market price, lease returns and a dealer’s entire inventory.
The partnership will give Otolane members access to leverage analytics and data, improving vehicle wholesale for automotive professionals to maximize profitability, said the company.
Le Parking will also enable users to search major pre-owned car websites through a single portal while searching traditional criteria or specific elements.
“Since Canada and the U.S. represents one of the world’s largest used car markets, we feel this partnership will be a major source of growth for many years to come,” said Fabrice Fournier, co-founder of Le Parking, in a written release.