AutoTradeCenter.com Inc. Enters Into A Vehicle Remarketing Agreement withAmerican Honda Finance Corp.
Tue Feb 29 08:42:00 EST 2000
SCOTTSDALE, Ariz., Feb 29, 2000 (BUSINESS WIRE) -- AutoTradeCenter.com Inc.
(OTC BB: AUTC) Tuesday announced that it has entered into a vehicle remarketing
agreement with American Honda Finance Corp. to develop and host their off-lease
vehicle disposition Web site.
The site will be designed to allow American Honda Finance Corp. to communicate
available off-lease vehicle inventory exclusively to the franchised Honda and
Acura dealer groups utilizing state-of-the-art technology, thereby increasing
efficiencies for themselves and the automobile dealers.
American Honda Finance Corp. intends to utilize the company's integrated system
to remarket its annual lease portfolio consisting of 150,000 vehicles.
American Honda Finance Corp. manager of Lease-end David Langley said, "We
believe that applying innovative technologies to the inventory disposition
process will benefit all parties involved.
"We feel this new approach illustrates our commitment to provide the Honda and
Acura dealer groups with the most efficient means to better balance their
inventories and acquire needed inventory in a more effective manner."
Company President Roger Butterwick added, "We are delighted to have the
opportunity to provide our B2B e-commerce technologies to an industry leader
such as American Honda Finance Corp. This vehicle remarketing agreement clearly
illustrates their commitment to provide the Honda and Acura dealers with
leading-edge technology."
AutoTradeCenter.com is a leading Internet-based "business-to-business"
automotive wholesale and remarketing company.
On its web site, www.autotradecenter.com, the company markets its services to
its national dealer base, to automotive lease and rental companies, and to banks
and financial institutions across the U.S. who can use the site's many features
for more efficient buying, selling and trading.
The site also is designed to provide large dealership groups a virtual private
network internal inventory service through controlled security access.
The company also owns the Web site www.tradeincarsonline.com through its
subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Web site
to allow a consumer purchasing a new vehicle online to receive a firm purchase
bid on his trade-in vehicle.
For more information on AutoTradeCenter.com Inc., please visit
autotradecenter.com.
Statements regarding financial matters in this press release other than
historical facts are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Securities Litigation Reform
Act of 1995.
The company intends that such statements about the company's future
expectations, including future revenues and earnings, and all other
forward-looking statements be subject to the safe harbors created thereby.
Since these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the company's actual
results may differ materially from expected results.
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