Automotive classifieds site AutoTrader.com says it plans to launch an auction-style listings product.
AutoTrader.com says its new auction-style buying and selling tool has been built from the ground up to serve the needs of mainstream used car buyers and sellers.
Unlike existing auction-style sites, AutoTrader.com says it will not charge a sell fee, so buyers and sellers will not be forced to transact online.
Features such as “Know When It’s Close,” “Offer to Sell,” “Auto Extension” and “Rating Recovery” will allow sellers to close more transactions and give sellers time to respond to ratings from buyers, AutoTrader.com says.
The winning bidder also will be able to inspect the car before completing the purchase. This feature, available at the seller’s option, will enable AutoTrader.com’s auction-style listings to serve a larger market, the company says.
“Our product will serve the needs of current users of other auction-style sites as well as expand the size of the auction-style market by attracting mainstream consumers and dealers who have been on the sidelines until now,” Chip Perry, president and chief executive officer of AutoTrader.com, said in a statement. “We will leverage our enormous database of 2.2 million vehicles and the largest audience of in-market car shoppers to create a product that will generate a whole new level of interest in auction-style car buying and selling.”
AutoTrader.com: www.autotrader.com
