AutoTradeCenter Extends Remarketing Contract with Volvo Finance North America, Inc.
AutoTradeCenter announced Aug. 8 that it has signed a one-year extension of its contractual remarketing agreement with Volvo Finance North America, Inc. (Volvo Finance).
The Web-enhanced remarketing program, VolvoRIDE, was launched nationally in December 2001 for the disposition of Volvo Finance's 30,000-plus annual maturing leases in its consumer lease portfolio. More than 350 Volvo franchise retailers across the country have exclusive access to quality inventory before auction consignment through the private, branded Web site.
"Volvo Finance desired a comprehensive remarketing program giving all Volvo retailers a competitive edge," said Stephen G. Wheeler, director of business development, AutoTradeCenter. "They [Volvo retailers] have responded with 88 percent purchasing vehicle inventory online during the first seven months of the program. VolvoRIDE delivers the service and support, unlimited access, inventory management, and the comprehensive business tools to drive sales. We are proud of Volvo's confidence in VolvoRIDE and look forward to building on its' success with additional functionality and services over the next months."
About AutoTradeCenter
AutoTradeCenter (ATC) is an Internet-based "business-to-business" automotive re-marketing company and has recently signed a merger agreement with Autodaq Corp., of Menlo Park, Calif., as reported in the company's 8K filed in July 2002.
Currently, AutoTradeCenter markets its services to automobile manufacturers, captive finance companies, lease and rental companies, and financial institutions across the United States.
ATC powers the American Honda Finance Corp.'s Vehicle Inter-Dealer Purchase System (VIPS), the American Suzuki Motor Corp.'s PROline, and Volvo Finance North America's Remarketing Internet Database Explorer (VolvoRIDE) utilizing Internet technology and remarketing services.
For more information on AutoTradeCenter.com Inc., visit www.autotradecenter.com or contact Public Relations at lseegan@autotradecenter.com.
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