AutoTradeCenter Reaches Milestone of Number of Vehicles Sold via Internet
AutoTradeCenter announced it has reached its objective of achieving positive earnings before interest, taxes, depreciation and amortization (EBITDA) by Dec. 31, 2001. Record vehicle sales on the company’s branded Web sites in 2001 marked a 48-percent increase over 2000. Gross revenues for the quarter ending Dec. 31, 2001, were up over 200 percent for the same period last year.
The company’s complete third-quarter results for the period ending Dec. 31, 2001, is expected to be released mid-February 2002. The company’s 10Q filing with the SEC can be accessed through the EDGAR reporting system located at 222.sec.gov. The company’s financial statements are posted in the Investor Relations section on its Web site www.autotradecenter.com.
AutoTradeCenter (ATC) is an Internet-based “business-to-business” automotive remarketing company. The company markets its services to automobile manufacturers, captive finance companies, lease and rental companies, and financial institutions across the U.S. ATC powers the American Honda Finance Corp.’s Vehicle Inter-Dealer Purchase System (VIPS), the American Suzuki Motor Corp.’s PROline, and Volvo Finance North America’s Remarketing Internet Database Explorer (VolvoRIDE) using Internet technology and remarketing services. For more information on AutoTradeCenter.com Inc., visit http://www.autotradecenter.com/ or contact Public Relations at email@example.com.