Through the new alliance, Quebec-based online auction Wholesale Express
will have access to TRADE X's global buyers; the TRADE X 'Brain'
will now aggregate and broadcast local auction inventory to global
auto markets.
TORONTO, April 12,
2022 /PRNewswire/ -- TRADE X, a B2B cross-border
automotive trading platform, today announced that it has entered
into its first strategic auction alliance today with Wholesale
Express, a Canadian online daily auction site that sells pre-owned
cars to registered dealers in Quebec, Ontario, and Eastern
Canada. TRADE X's Auction Alliance Program focuses on
broadcasting auctions' inventory to the world's highest
bidders.
Founded in 2013, Wholesale Express offers approximately 8,500+
pre-owned vehicles for sale on its platform monthly. TRADE X's
Auction Alliance Program allows an auction partner to link their
inventory feed with the TRADE X 'Brain' platform to analyze
suitable inventory to broadcast to TRADE X's global buyers. The
TRADE X 'Brain' instantly provides data insights into several
vehicle trade complexities ensuring only qualified vehicles are
broadcast to specific trade corridors where they meet compliancy
requirements for import and possess a significant arbitrage
opportunity, as well. The TRADE X ecosystem offers buyers and
sellers full transparency, paying sellers in their local currency
while handling vehicle logistics, homologation, and compliance
requirements for the buyers.
"As this is our first partnership through the new Auction
Alliance Program, we are excited about the opportunity to work with
Wholesale Express, its auction and their clients, providing their
auction inventory great exposure to a global audience," said TRADE
X Executive Vice President and Chief Operating Officer Luciano Butera. "Wholesale Express auction
vehicles can potentially yield a higher sale price while being
transacted seamlessly, just as they would locally. Through these
auction alliances, we are aiming not only to increase inventory
visibility to our global buyers, but also to demonstrate that
global trade can be uncomplicated and seamless. By introducing
vehicle inventory directly to new markets, we are promoting trust
between buyer and seller in a global market."
"In partnering with TRADE X, we can offer new solutions to our
customers and leverage this ability to help fuel our expansion to
the rest of Canada, as the value
add of being able to communicate our clients' inventory globally is
an immeasurable differentiator for our auction platform," said
Eric Gosselin, VP Operations at
Wholesale Express. "Through this new alliance, our sellers will
have peace of mind knowing that they're getting the highest
possible price for their vehicles from an audience of worldwide
buyers – the upside is incredible."
Auctions looking to join TRADE X's Auction Alliance Program can
do so via email to AAP@tradexport.com.
About TRADE X
With headquarters in Ontario,
Canada, TRADE X is the first global vehicle marketplace to
aggregate cross-border supply and demand for car dealers, fleet
owners, rental companies, mobility solution providers, importers,
and exporters, opening new trading corridors to buy and sell
vehicles. The TRADE X 'Brain' platform is a machine-learning,
AI-driven technology that connects buyers and sellers through a
transparent marketplace that aids sellers in finding the world's
highest bidders and gives buyers access to the best source markets
and price arbitrage opportunities. Users can quickly and seamlessly
transact online in a secure environment with all the complexities
of international trade – compliance, anti-money laundering
regulations, vehicle inspection, currency exchange, digital trade
documentation, payments, and financing – all managed by TRADE X.
The company serves authorized buyers and sellers everywhere with a
user-friendly app available 24/7 via mobile, tablet, or desktop.
TRADE X's largest investors include Aimia Inc., a publicly traded
holding company listed on the Toronto Stock Exchange (TSX: AIM). To
learn more, please visit www.tradexport.com.
About Wholesale Express
Founded in 2013, Wholesale
Express is an online daily auction site that offers approximately
8,500+ pre-owned vehicles for sale on its platform monthly.
Wholesale Express sells used cars to registered dealers in
Quebec, Ontario and Eastern
Canada. Accessible via computer, tablet and smartphone,
Wholesale Express offers an efficient solution to car dealers that
increases their sales conversion utilizing its industry leading
vehicle photo capture process. Dealers who access the Wholesale
Express application can participate in auctions and get appraisals
on their pre-owned vehicles. For more information on Wholesale
Express, visit: https://www.wexpress.ca/en/
Media Contact:
John
Hanlon
JConnelly
(973) 796-6106
jhanlon@jconnelly.com
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SOURCE TRADE X; Aimia Inc.
