Isuzu and Autodaq Corporation to Launch Online Service for Dealers

    MENLO PARK, Calif.--Aug. 16, 2001--American Isuzu Motors Inc., the U.S. distributor of Isuzu sport utility vehicles, and Autodaq Corporation, an integrated automotive remarketing services company, today 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.
    David Funston, Isuzu's fleet and remarketing executive manager, said, "Isuzu Auction Online puts more vehicles back in the hands of our dealers sooner. 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 twenty-four 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.
    Adam Boyden, Autodaq president and chief executive officer said, "We're pleased that Isuzu is putting Autodaq's proven Internet technology and online auction services to work to augment its remarketing efforts. We look forward to serving both Isuzu and its national network of dealers."