OPENLANE’s new tool seeks to give condition reports a boost
![](https://www.autoremarketing.com/wp-content/uploads/2024/08/Vehicle-diagnostics-inspection-1.jpg)
OPENLANE wants to give condition reports a boost.
The online wholesale used-vehicle marketplace has launched Code Boost IQ, a vehicle inspection enhancement designed to enable faster, better-informed decision-making for dealers.
The company said its system uses industry-standard On-Board Diagnostics II (OBD2) scans to detect thousands of alphanumeric diagnostic codes that indicate potential mechanical or electrical issues. It then uses artificial intelligence, OPENLANE’s analytics engine and millions of internal data points to translate flagged OBD2 codes into visual alert banners.
The company said Code Boost IQ is available on every dealer-consigned vehicle in OPENLANE’s U.S. marketplace, allowing dealers to determine which codes are cause for concern and adjust their pricing or purchasing approach.
“OPENLANE is committed to making wholesale easy with every customer, and Code Boost IQ is just another OPENLANE innovation that’s making our marketplace the smartest, most transparent and most efficient platform for dealers to transact,” said OPENLANE executive vice president James Coyle, who is president of the company’s North American marketplaces.
“Code Boost IQ cuts through the complexity of OBD2 codes, increasing signal-to-noise and highlighting the information dealers need most. Buyers save time and have more confidence in their wholesale bidding and buying strategy, while sellers benefit from the reduced probability — and potential frustration — of a code-based arbitration.”
Code Boost IQ aggregates millions of OBD2 scans captured through OPENLANE’s service network, the company said, and follows those codes through pre- and post-transaction. Using AI and OPENLANE technology, Code Boost IQ then predicts which codes indicate the highest probability of issues or repairs, and which could lead to arbitration.
That information is presented as color-coded, plain-language alert banners displayed at the top of dealer-consigned vehicle condition reports to indicate no trouble codes, confirmed trouble codes or high probability of repair needed.
“We’re proud to be the first to effectively translate the more than 39,000 distinct OBD2 codes — including thousands of manufacturer-specific codes — into information dealers can easily understand and quickly act on,” said Shiv Dutt, senior vice president and president of the U.S. marketplace. “With more than 1.2 million OBD2 scans and counting, we’ve built a feedback loop between our code scan and arbitration data to better inform customers about potential vehicle condition issues based on triggered codes.”