Automobile Auctions Are on the Leading Edge Of Vehicle Sales
3 March 2000
J.D. Power Survey Indicates Automobile Auctions Are on the Leading Edge Of Vehicle Sales in the Information Age WorldBestBuy.com Wheelmonger takes off!
SAN DIEGO, March 3 -- WorldBestBuy.com's, the leading
Internet retail supersite owned by parent company International Brands, Inc.
(OTC Bulletin Board: INBR), new automotive auction site, nicknamed the
Wheelmonger, is beginning to extract strong interest from both buyers and
sellers as an ever increasing number of vehicle transactions are taking place
in cyberspace instead of some box-like "closing room" at a car dealership.
According to a recent study from JD Power & Associates more than 40
percent of U.S. buyers who purchased a car or truck used the internet to shop
for the vehicle, compared to only 25 percent of consumers last year. The
figures in the JD Power study were reinforced by another survey conducted by
Strategic Vision, Inc., which stated that 36 percent of all U.S. car buyers
are now using the Web to shop for vehicles, up from 26% last year.
"These studies reinforce the solid interest we have seen at Wheelmonger,
http://www.worldbestbuy.com 's automotive auction section" said Steven (Vladislav)
Zubkis, CEO of WorldBestBuy.com .
"Car shoppers, like all other consumers, value the ease and efficiency of
shopping over the internet. When they know they are shopping at a site they
can trust, they are eager to forgo spending their weekends trolling car dealer
lots in hopes of stumbling across a good buy. And why not? We offer them a
hassle-free way to get the best buy!"
WorldBestBuy.com is a major e-tail presence on the Internet. Current
offerings include a huge selection of unique and high-quality products from
around the world at deep discount prices, including a new WBB Auction area
where buyers can bid on hundreds of new, close-out, refurbished, and
collectable products. In addition, the site offers personal sales areas such
as the Garage Sale, and World Bazaar, where site visitors can buy or sell
personal items ranging from books, toys, antiques, and jewelry, to
automobiles, trucks, collectibles, furniture, electronics, and china.
WorldBestBuy.com is a wholly owned subsidiary of San Diego-based
International Brands, Inc. (OTC Bulletin Board: INBR), a publicly traded
technology company with majority or partial interests in internet, media,
entertainment and broadcasting enterprises. For further information, contact
Steven Zubkis at zubkis@internationalbrands.com or call Kellie Fitzgerald at
800-420-5282.
Except for the historical information contained herein, the statements in
this press release are forward-looking statements that involve risks and
uncertainties. Potential risks and uncertainties include, without limitation,
continued competitive pressures in the marketplace; the effect competitive and
economic factors and the Company's reaction to them may have on consumer and
business buying decisions with respect to the Company's products and services.
These forward-looking statements include statements related to potential
prospects of the company. Actual results may differ materially due to a
number of risks. This press release provides general information and should
not be construed as an offer to sell securities. This report is for
informational purposes only and should not be construed as advice or as
meeting the investment needs of any particular investor or designed to be the
basis of any investment decision.
CONTACT: Mindy Franklin or Jill Schmidt, both of S&S Public Relations,
847-955-0700, for International Brands, Inc.