“At E INC, our most important asset is our customers,” said McClenahan. buyers from Canada, EBlock serves as the only end-to-end, cross-border solution, connecting dealers with previously hard-to-reach inventory. With nearly 1 in 5 vehicles within EBlock’s inventory crossing the border to U.S. Experience centers provide logistical hubs for ancillary services such as transportation, inspections, and other post-auction services. “By connecting the two worlds using inventory and data, we can provide dealers with the insights they need to make better decisions about their retail trades and inventory, and what inventory they should acquire on the wholesale side.”ĮBlock, which recently acquired Fastlane Auto Exchange, a Michigan-based physical auction located 75 miles from the Canadian border, also offers end-to-end solutions, bridging the gap between land and technology. “With the digitization of wholesale and retail occurring rapidly, we are focused on helping dealers make smart decisions across these areas of their business,” said EBlock Chief Product Officer, Jai Macker. We are excited to join EBlock’s highly experienced team and look forward to providing new digital options for our customers to accelerate growth in our market.The automotive industry is undergoing huge changes and challenges, and dealers need partners who help them stay ahead of the competition and the market. “EBlock has a proven track record for supporting the dealers’ culture within the brick-and-mortar facility and empowering them with a digital marketplace that replicates live physical auctions in a completely virtual format. “EBlock and FastLane share a dedication to the customers we serve, making this a big win for all,” said FastLane’s managing partner Greg Price. FastLane will be the anchor asset for EBlock to expand its reach by enabling digital dealer to dealer buying and selling, positioning EBlock for further expansion in the U.S. In its announcement, EBlock stated it “intends to integrate FastLane’s 70-acre facility, seasoned team and strong existing customer base” as its initial foothold in the U.S. management expects the transaction to be accretive to E INC immediately based on the margin profile of FastLane. and is re-sold through auctions, making FastLane’s physical location prime real estate for enabling an end-to-end experience for the company’s buyers to resell vehicles once they have crossed the border. Nearly 1 in 5 vehicles within EBlock’s Canadian marketplace crosses the border to the U.S. “The acquisition of FastLane Auto Exchange uniquely strengthens our wholesale marketplace, EBlock, in both Canada and the U.S., allowing it to offer the only cross-border dealer-to-dealer digital auction platform with an end-to-end solution for cross-border buyers,” said Jason McClenahan, President and CEO of E Inc. FastLane is a full-service auction marketplace located in Mount Morris, Mich., 75 miles from Detroit and the Canadian border. and sub-brand, EBlock, have acquired FastLane Auto Exchange, a Michigan-based independent dealer auction marketplace that transacted roughly 24,000 vehicles in 2021.
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