Suzuki Signs Letter of Intent with AutoTradeCenter.com Inc.
10 April 2000
American Suzuki Motor Corporation Signs Letter of Intent with AutoTradeCenter.com Inc.
SCOTTSDALE, Ariz.--April 10, 2000-- AutoTradeCenter.com Inc. (OTCBB:AUTC) announced today that the Company has signed a Letter of Intent with American Suzuki Motor Corporation to provide an online remarketing program for the disposition of its rental car returns. The program will provide efficiencies to both American Suzuki Motor Corporation and its more than 350 franchised dealers by offering the vehicles for sale to its dealer body much earlier in the selling cycle than traditional remarketing methods.The pilot program, scheduled to begin June 1, 2000, will allow American Suzuki Motor Corporation to present its inventory exclusively to its franchised dealers utilizing state-of-the-art Internet technology and industry proven marketing. In addition to the Company's Internet technology, the program will utilize the Company's wholly-owned subsidiary AutoTradeCenter Remarketing Services, Inc. to bring potential buyers to the Web site to purchase the returned rental vehicles.
American Suzuki Motor Corporation joins American Honda Finance Corporation in utilizing AutoTradeCenter.com's Internet technology and remarketing services.
Company president Roger L. Butterwick said, "We are pleased to provide our e-commerce technologies and remarketing expertise to American Suzuki Motor Corporation. Our e-commerce solutions, coupled with our proven remarketing programs, add value to both the manufacturers' captive finance arms and their dealers."
Tim Finley, Fleet & Remarketing Manager of American Suzuki Motor Corporation stated, "Our mission was to provide an online environment for the tracking, viewing and purchasing of all American Suzuki Motor Corporation rental returns. The AutoTradeCenter.com program delivers many benefits, the first of which is the ability to make the vehicle available to our dealers from the moment the vehicle is returned by the rental company, increasing vehicle exposure to interested buyers at the earliest possible point in our selling cycle, without disrupting our existing remarketing program.
"AutoTradeCenter.com clearly affords the dealers a more meaningful online experience through fully integrated software, multiple high resolution digital photos and comprehensive inspection reports. However, we believe our program's success will be determined by dealer participation. The AutoTradeCenter.com remarketing team has been the exclusive marketing arm for manufacturers and captive finance companies dramatically increasing dealer participation. Our program will incorporate the AutoTradeCenter.com remarketing services to assist our dealers in making the most of the Web site."
AutoTradeCenter Remarketing Services president Colette Marcilliat said, "We believe the most successful Web-enabled remarketing programs must focus on the dealer. By providing unparalleled dealer support, our remarketing team ensures the audience of buyers necessary for American Suzuki Motor Corporation to sell its rental car returns."
AutoTradeCenter.com is the leading Internet-based "business-to-business" automotive wholesale and re-marketing company. On its web site, www.autotradecenter.com, the Company markets its services to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the U.S. who can use the site's many features for more efficient buying, selling and trading.
The Company also owns the Web site www.tradeincarsonline.com through its subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Web site to allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle.
For more information on AutoTradeCenter.com Inc., please visit www.autotradecenter.com.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.