INDIANAPOLIS - In 2005, Auction Broadcasting Company (ABC) entered a partnership with American Auto Exchange (aaX) to form the online remarketing channel abX. GE Commercial Finance Fleet Services was one of a select number of ABC customers asked to pilot the program, launched from ABC Tampa last September.
abX is an online tool that provides inventory and buy and sell recommendations to members and dealers across the country. ABC developed an online auction and merged it with the aaX system, providing a venue where vehicles are placed on the auction and directed to dealers with a need for that particular product, based on past sales success.
The abX system works like this: The dealer launches the vehicle on abX for sale. The system routes the units to dealers with a specific need for that vehicle. abX dealers then have the opportunity to bid on the units for a certain period of time. In addition, the program gives buyers another outlet for selling vehicles before the normal auction day sales. This effectively doubles the chances of a given vehicle being sold.
To launch the pilot program, ABC partnered with a select group of customers; GE Commercial Finance Fleet Services was the only finance lease customer chosen to participate.