Scottsdale, AZ-based Auto Network Group Inc. said that it will begin to
convert all of its automotive wholesaling business to an Internet-based
operation.
The company is also changing its name to AutoTradeCenter.com, which is also
the name of the company’s online auto wholesale site.
As a result of the move, AutoTradeCenter.com will be an automotive e-commerce
site with annualized revenue in excess of $100 million, the company said..
“The name change reflects our growing Internet focus and presence,” said CEO
Michael Stuart. “The Internet will greatly affect the way we do business in
the future and we are pleased to be in the forefront of the automotive
industry moving online. We are confident that our unique business
characteristics will allow us to expand and utilize the Internet as few others
can.”
AutoTradeCenter.com’s site is a “business-to-business” service that allows
automobile dealers to view automotive inventory for more efficient dealer-to-
dealer buying, selling and trading. The inventory is for the wholesale trade
only. Access is limited to registered automobile dealers, fleet and lease
remarketers, financial institutions and rental car companies.
The site is currently being expanded to facilitate online automotive auctions.
AutoTradeCenter.com will provide an Internet-based alternative to the
conventional auto wholesale industry.