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 /CNW/ — 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 [email protected].
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/\
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SOURCE TRADE X; Aimia Inc.
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