Auto Trading Platform Trade X Launches Auction Alliance Program

Trade X, used cars, Wholesale Express, auction

B2B automotive trading platform Trade X announced Tuesday (April 12) that it has entered its first strategic auction alliance with Wholesale Express.

According to a company news release, Wholesale Express is — like Trade X — based in Canada, and holds daily auctions selling pre-owned cars to registered dealers in Quebec, Ontario and eastern Canada. With Trade X’s Auction Alliance program, these sellers’ inventories will be broadcast to the world’s highest bidder.

In this case, that means showcasing some of the roughly 8,500 pre-owned vehicles Wholesale Express has for sale on its platform each month.

Read more: Trade X Will Expand B2B Automotive Trading Platform Globally

The Auction Alliance platform allows auction partners to connect their inventory feed with to Trade X’s “Brain” platform. This platform provides “data insights into several vehicle trade complexities ensuring only qualified vehicles are broadcast to specific trade corridors where they meet compliancy requirements for import and possess a significant arbitrage opportunity, as well,” according to the release.

Trade X said this ecosystem offers buyers and sellers total transparency, paying sellers using their local currency while making sure buyers don’t need to worry about vehicle logistics, homologation and compliance requirements.

“Wholesale Express auction vehicles have an opportunity to earn a higher sale price while being transacted seamlessly, just as if they were selling to a local buyer,” said Trade X Executive Vice President and Chief Operating Officer Luciano Butera.

“Through these auction alliances, we are aiming not only to increase inventory visibility to our global buyers but also to demonstrate that global trade can be uncomplicated and seamless,” Butera continued. “By introducing vehicle inventory directly to new markets, we are promoting trust between buyer and seller in a global marketplace.”

Eric Gosselin, vice president of operations at Wholesale Express, said the partnership will help his company expand across the rest of Canada and into the U.S., while giving sellers “peace of mind knowing that they’re getting the highest possible price for their vehicles from an audience of worldwide buyers — the upside is incredible.”