American Isuzu Motors Inc., the U.S. distributor of Isuzu sport utility vehicles, and Autodaq Corp., an integrated automotive remarketing services company, on Aug. 16 announced the launch of "Isuzu Auction Online." This service will enable more than 500 Isuzu dealers nationwide to purchase remarketed Isuzu rental and fleet vehicles online.
Autodaq, which provides the infrastructure and services to facilitate the trade of used vehicles on the Internet, will both power and maintain the Isuzu service. The new online auction will debut in pilot programs in selected Isuzu sales regions beginning in September.
"Isuzu Auction Online puts more vehicles back in the hands of our dealers sooner," said David Funston, Isuzu's fleet and remarketing executive manager. "Isuzu fleet vehicles will be auctioned online directly from marshalling
yards, reducing our sales cycles from as long as 45 days to as short as a few days. This is an innovative, cost-effective and efficient approach to the disposal of program vehicles."
Funston added that Isuzu dealers would also benefit from the Autodaq-powered online service. "Isuzu Auction Online provides a valuable new service to our dealers - it's an enormously simple and convenient way to purchase inventory 24 hours a day, seven days a week. Plus, the comprehensive condition and pricing information necessary to buy vehicles online with confidence is all there on every vehicle detail page.
"Our dealers, for example, can use the detailed search function to send them e-mail or text page notifications whenever desired vehicles become available in the inventory. Using the Autodaq 'proxy bid' feature, Isuzu dealers can
also place the highest bid they're willing to pay for a vehicle during an auction, and the system will automatically bid for them in $50 increments up to that limit. This functionality will enable our dealers to spend less time on auctions and more time with Isuzu customers and meeting other business needs."
Isuzu expects to remarket approximately 15,000 fleet cars in 2001, according to Funston.
"We're pleased that Isuzu is putting Autodaq's proven Internet technology and online auction services to work to augment its remarketing efforts," said Adam Boyden, Autodaq president and chief executive officer. "We look forward to serving both Isuzu and its national network of dealers."
About American Isuzu
American Isuzu Motors, based in Cerritos, Calif., is the U.S. distributor of Isuzu sport utility vehicles, commercial vehicles and diesel
engines.
For more information call (800) 662-2464 or visit www.isuzu.com.
About Autodaq Corp.
Autodaq Corp. (www.autodaq.com) is an integrated automotive remarketing services company that provides the infrastructure and technology to facilitate the business-to-business trade of used cars on the Internet and professional remarketing services that include remarketing management, lease maturity management and sales and leadership training.
Autodaq says its services significantly reduce costs, increase profitability and improve operational efficiency for financial institutions, auto manufacturers and other fleet, lease and rental car operators, as well
as franchised, independent and Internet-based auto dealers and wholesalers.
Based in Menlo Park, Calif., Autodaq is a privately held company; its investors include August Capital, Madison Dearborn Partners, Zilkha Ventures, Clayton Venture Group, Dain Rauscher Wessels and several angel investors from the Internet and automotive industries.
