iMotors Introduces iMotors Express; The next big step in shortening the used car supply chain to unlock value for consumers
6 September 2000
iMotors Introduces iMotors Express; The next big step in shortening the used car supply chain to unlock value for consumers
SAN FRANCISCO--Sept. 6, 2000--iMotors.com, the nation's first online used car retailer, announced today iMotors Express, a new service that taps into the ever-present imbalances between wholesale supply and consumer demand of used cars to offer great values and faster delivery.Each week iMotors pre-selects specific vehicles that are on the wholesale market available via auctions, private sales, leasing companies, and daily rental fleets in significant numbers, and makes them available for order to consumers. Like the custom-ordered cars iMotors sells, iMotors only purchases these Express vehicles after a customer orders.
This patent-pending no-inventory business model enables iMotors to save hundreds to thousands of dollars in depreciation, carrying costs, real estate and overhead -- savings passed along to consumers in the form of great prices and higher quality, certified vehicles. On top of this, Express vehicles represent additional savings as iMotors capitalizes on the wholesale oversupply and buys even more efficiently. Finally, iMotors can expedite the delivery of Express vehicles since the location of these vehicles is already known at the time of order, thus forming the basis of iMotors 14-day Delivery Guarantee.
"iMotors Express is the next evolution of our business," said iMotors CEO and founder Adam Simms. "Everything we do is designed to create value for the customer, whether it's our small-footprint retail delivery locations or our highly efficient reconditioning facilities, our Vehicle Certification Centers. iMotors Express allows us to take this lean approach to vehicle procurement one step further."
iMotors currently serves customers in 15 markets throughout the West Coast, New York, Long Island, and Atlanta. Markets slated to be served in the 3rd and 4th quarters of 2000 include Cincinnati, Miami, Chicago, Ft. Myers, St. Louis, Indianapolis, Phoenix, Orlando, Kansas City, Boston, Washington, DC, Philadelphia, Cleveland, Detroit, and Pittsburgh.
Here's how iMotors works:
| -- | A customer orders the one to five year old vehicle they want via the Web site, www.imotors.com, or by calling 1-888-IMOTORS (466-8677). Orders are secured with a $250 fully refundable deposit and proof of financing. |
| -- | Through its network of off-lease, auction, and other public and non-public sources, iMotors' expert buyers find and purchase the vehicle that the customer ordered. |
| -- | iMotors transports the vehicle to one of its state-of-the-art Vehicle Certification Centers where ASE and I-CAR certified technicians test, inspect and certify the vehicle. iMotors makes needed repairs, replaces parts, and performs preventative maintenance, bringing the vehicle back up to like-new standards both mechanically and cosmetically. |
| -- | iMotors delivers the car to the customer at the nearest, licensed iMotors Delivery Center. The customer reviews the vehicle, takes a test drive and signs all remaining paperwork. iMotors backs every vehicle with a 3-month/3,000-mile comprehensive warranty, a 7-day/700-mile money-back guarantee, and an AutoBiography(SM), detailing the vehicle's history. |
About iMotors:
iMotors was launched in September 1999 as the Internet's first and only used car company, allowing customers to buy thoroughly tested, inspected and certified used vehicles entirely online. iMotors is a privately held company, backed by a renowned group of investors with successful track records at leading land-based retail and Internet/e-commerce businesses. For additional information, visit www.imotors.com or call 888-IMOTORS (466-8677).