AutoTradeCenter, Inc. announced the signing of a two-year agreement with Subaru of America, Inc (Subaru) for the online remarketing of the Subaru Leasing Ltd. off-lease portfolio. This agreement marks the first Internet remarketing program to fully utilize the combined suite of services resulting from the recent merger of AutoTradeCenter and Autodaq Corporation. The Subaru program, SubaruSOLD (Select Off Lease Direct), is anticipated to launch in February of 2003 and will include online grounding, hosting of private and open auctions, plus a variety of backend services such as handling funds and title transfers.

“The time has come,” states John Manchin, Subaru leasing remarketing manager, “for us to take advantage of every sales opportunity and distribution channel available to improve the marketing of Subaru off-lease vehicles. Our partnership with ATC provides Subaru the technology to successfully operate in an online environment with support staff dedicated to achieving our business goals.”

According to the company, SubaruSOLD is a comprehensive program encompassing a variety of seller and retailer services beginning with ATC’s Turn-In Manager that automatically generates a pre-filled vehicle return receipt (VRR) and odometer disclosure statement when a vehicle is grounded. The receiving retailer has an exclusive right of purchase for 2 days. If the vehicle is not purchased, it is listed on SubaruSOLD’s private auction site where Subaru registered retailers can bid on the vehicle in a closed environment for an additional two days. If the vehicle remains unsold, it will proceed to ATCs Open Auction platform that is accessible to all Subaru and non-Subaru retailers, nationwide, for an additional two days.

“Upstream remarketing provides a number of financial and operational efficiencies,” continues Manchin. “The marketing flexibility, continuous inventory access, and national pool of buyers are just some of the benefits SubaruSOLD delivers to Subaru and its retailers.”

“Subaru of America’s utilization of ATC’s comprehensive suite of products in their remarketing plan,” states Roger L. Butterwick, president of AutoTradeCenter, “is yet another positive confirmation of the recent melding of complimentary expertise, products and services to better satisfy our client’s, and the industry’s, remarketing objectives.”

AutoTradeCenter, Inc. (ATC) is an Internet-based business-to-business automotive remarketing company offering its services to automobile manufacturers, captive finance companies, lease and rental companies, and financial institutions across the U.S. ATC powers remarketing programs for such companies as Audi, American Honda Finance, Hyundai, Isuzu, American Suzuki Motors, Volvo Finance North America, Chrysler Financial, Volkswagen, Enterprise Rent-a-Car, and several other banks and financial institutions. For more information on AutoTradeCenter, Inc., visit www.autotradecenter.com.