The Cobalt Group's MotorPlace Auto Exchange Launches All-New Version of Wholesale Used Vehicle Exchange
SEATTLE--July 30, 2001--MotorPlace Auto Exchange, a division of The Cobalt Group , announced today the launch of an all-new version of its online wholesale used vehicle exchange.
MotorPlace Auto Exchange combines the strength of Cobalt's industry-leading dealer network, cutting-edge technology and high-touch, personalized service to more effectively match buyers and sellers of wholesale used vehicles and reduce the inefficiencies and costs associated with remarketing and purchasing these vehicles. MotorPlace Auto Exchange is accessed through Cobalt's automotive portal, MotorPlace.com.
"Backed by Cobalt's experience serving nearly half of the nation's auto dealers, MotorPlace Auto Exchange is in a unique position in the automotive industry to bring tremendous efficiencies to automotive remarketing and a more convenient way to buy and sell wholesale used vehicles," said Jeff Danford, vice president and general manager of Cobalt's MotorPlace Auto Exchange. "Sellers can utilize MotorPlace Auto Exchange to remarket their vehicles online to a broad national market of dealers, significantly reducing remarketing costs, accelerating the sales cycle and increasing efficiencies. For buyers, MotorPlace Auto Exchange combines the best the Internet has to offer with world-class customer service from Cobalt's automotive experts."
MotorPlace Auto Exchange offers wholesale used vehicle sellers, including financial institutions, auto manufacturers and fleet, lease and rental companies, an efficient way to remarket vehicles. Sellers can begin remarketing vehicles immediately when they take possession and leverage the time that has historically been lost while vehicles are being transported to and prepared for auction. Vehicles that do not sell online within a predetermined number of days are then offered at auction.
MotorPlace Auto Exchange buyers, including franchised and independent dealers and wholesalers, benefit from a convenient, low-cost way to access and purchase high-quality used vehicles via an online exchange that offers exceptional customer service from MotorPlace Auto Exchange's automotive experts. MotorPlace Auto Exchange's dealer relationship managers are available to assist buyers through every step of the transaction both online and over the phone. MotorPlace Auto Exchange's industry expertise and commitment to pre- and post-sale service ensures an exceptional customer experience for both buyers and sellers.
"MotorPlace Auto Exchange is a convenient, hassle-free way to buy the right used vehicles for my inventory without having to spend time and money leaving the dealership," said Rick Blakemore, general manager of Hoehn Honda in Carlsbad, Calif. "MotorPlace Auto Exchange's dealer relationship managers provide exceptional personalized service to help match me with the best cars for my market, and they are there each step of the way to make sure I am completely satisfied."
To buy vehicles, licensed dealers and wholesalers can register at MotorPlace.com. Once approved, buyers will receive a secure ID and password enabling them to browse through the inventory at no cost and with no obligation. They can search for vehicles based on make, model, year, and location, and view detailed photographs, descriptions and condition reports of the vehicles that match their criteria. A buyer can select a car online by using the "click and buy" feature or call a service representative for assistance. Once a buyer pays for the vehicle, MotorPlace Auto Exchange delivers the vehicle directly to them. To guarantee customer satisfaction, the buyer has three days to review the vehicle and ensure that its condition is as represented.
Key benefits of MotorPlace Auto Exchange to sellers include:
| -- | Accelerated sales cycle reduces expenses compared with traditional remarketing channels. |
| -- | Nationwide exposure of inventory to thousands of dealers across the country. |
| -- | One-stop shop for vehicle remarketing including cash management, transportation, and arbitration that reduces costly internal remarketing efforts. |
| -- | Rapid, low-cost inventory integration via MotorPlace Auto Exchange's Link Service(SM). |
Key benefits of MotorPlace Auto Exchange to buyers include:
-- Online access to high-quality, pre-auction used vehicles
across the country, 24 hours a day, 7 days a week.
-- Customer service team that complements the online exchange to
deliver support throughout the transaction.
-- Access to various makes and models of late-model (current year
to five years old) vehicles.
-- Professionally inspected vehicles with detailed photographs
and condition reports.
-- Full listings of delivered cost for a vehicle, including
vehicle transportation.
Cobalt developed the enhanced MotorPlace Auto Exchange using J2EE (Java 2 Enterprise Edition) to enable rapid and efficient integration of sellers and their inventories and provide the foundation to support future enhancements to deliver buyers the best online tools and experience.
Independent and franchised dealerships and wholesalers can register for free and with no obligation at www.MotorPlace.com. Sellers can sign up to sell vehicles on MotorPlace Auto Exchange by calling 800/406-4988 or e-mailing autoexchange@motorplace.com.
MotorPlace Auto Exchange is a wholly-owned division of The Cobalt Group and is headquartered in Austin, Texas.
About the Cobalt Group
Cobalt , headquartered in Seattle, is a leading provider of e-business products and services that help automotive dealers and manufacturers effectively manage their businesses online. Cobalt's suite of e-business solutions includes Web services, Web site hosting, e-commerce applications, Internet-based customer relationship management applications, data management, and best practices training and consulting.
Nearly half of the nation's auto dealers use Cobalt's technology, including 8,900 Web services clients, and approximately 8,700 PartsVoice(R) (www.partsvoice.com) clients. Cobalt's e-business products and services are endorsed by 14 automotive manufacturers and more than 50 of the 100 largest dealer groups in the United States. Cobalt is the only e-business provider endorsed by the National Automobile Dealers Association.
Cobalt operates MotorPlace.com(TM) (www.MotorPlace.com), an online business management and industry information resource for auto dealers. At MotorPlace.com, dealers utilize Cobalt tools to manage their Web sites, buy wholesale used vehicles through MotorPlace Auto Exchange, locate and market OEM parts through PartsVoice, purchase leads through Pick-or-Pass, and access industry information, news, events, and stock quotes. Cobalt also operates DealerNet(R) (www.dealernet.com), one of the most widely visited consumer automotive information portals on the Web. IntegraLink Corporation, a Cobalt company, is the auto industry's premier provider of automotive data collection and reporting services. Cobalt has offices in Portland, Ore., Detroit, Mich., Columbus, Ohio, and Austin, Texas. For more information, please visit www.cobaltgroup.com or call 800/909-8244.