TruckCenter.com facilitated the sale of $2.2 million of used trucks in its first private online auction, the industry’s largest to date. The real-time auction was conducted for a leading manufacturer of medium- and heavy-duty trucks and was exclusive to its key dealer network. TruckCenter.com is the trucking industry’s comprehensive online marketplace for the sale of trucks and related services, including financing, insurance, certification, warranty and third-party inspections. Entrade Inc. provides the software for and has 80 percent ownership of TruckCenter.com.
TruckCenter.com’s private auction service not only streamlined the transaction process for all participants, it also gave the vehicle manufacturer’s dealers immediate access to its inventory by removing traditional geographic restrictions. The manufacturer had control over the opening bid price, the increments for bidding, and the reserve price throughout the auction.
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