lanelogic, Inc. Completes Pilot and Announces 300 + Dealership Expansion

DALLAS--lanelogic, Inc., the Wall Street inspired automotive network that electronically trades used vehicles between automotive dealers nationwide, announces the completion of its pilot in the Southwest and Midwest regions. At the same time, it announced the expansion of its proprietary dealer-to-dealer trading network into 21 additional states over the next 90 days – that represents the addition of 300 + pre-signed dealerships to the lanelogic Network of Dealers.

The Southwest and Midwest regions initiated lanelogic’s pilot on April 24, 2006. The pilot experienced tremendous success with the trade floor placing more than $14 million in buy bids the first week, and allowed lanelogic to gain the expertise and experience needed to aggressively grow the company.

“Introducing a new product and concept to the auto industry is very exciting, but hasn’t always been easy. Our dealers have been very patient and allowed us to gain the experience needed to perfect our model,” stated Bruce Thompson, Founder and CEO of lanelogic. “We have made great strides with our product, technology, and service over the last few months. We’re really looking forward to this year’s NADA where we will introduce our new tools and upgraded service.”

The pilot enabled lanelogic to develop an array of profitable and user friendly concepts for its dealers. Technological developments include a multi-bid program that offers dealers four bid options; dealers may sell a vehicle to lanelogic with the Sell Bid option or choose to keep the vehicle with three guaranteed Put Bid options. lanelogic’s Put Bid offers a guaranteed buyback if the vehicle doesn’t sell in 45 days. lanelogic also formed a Field Operations Management team to improve the quality of service provided to its dealers. With the new management team, regional teams are now in place that supervise and manage dealers’ service calls, including arbitration, inspection, and transportation. In addition, a virtual, user friendly arbitration system is now online allowing a dealer the option of initiating a claim without having to spend time on the phone.

lanelogic’s President, Jim O’Brien, credits a strong company team with relentless dedication to the successful pilot. “We are continually perfecting our model which is designed to specifically meet the unique needs of each of our dealerships. We think our customers will love the enhancements. Our pilot proved lanelogic works! We are very excited about 2007 and look forward to adding our expansion regions to our network of dealers,” said O’Brien.

ABOUT LANELOGIC

lanelogic matches vehicles from dealerships where they’re not needed to dealerships that do. It is lead by CEO Bruce Thompson, former CEO and founder of used car inventory management pioneer American Auto Exchange. The company operates through strategic alliances with aaXchange, SGS Automotive Inspections, Dealer Services Corporation, Cross Country Transportation and The Great American Insurance Group.

For more information, visit: http://www.lanelogic.com/.

Learn more: http://www.lanelogic.com/demo.