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Autobytel.com Accelerates Business-to-Business Offerings, Names Industry Veteran to Head Business Auction Systems Unit
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| Thomas Nashmy to Leverage Wholesale Auction Application, 3,300 Dealer Extranet and 1,200 Hosted Dealer Websites |
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| Updated |
Jun 10, 2004 21:21:46 |
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 16 ( -2 -12.5% ) |
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Description:
Irvine, CA-February 29, 2000-Autobytel.com (Nasdaq: ABTL) today announced that Thomas Nashmy has been named to head its newly created Business Auction Systems Unit (BASU). The new unit will take charge of the marketing and development of Autobytel.com's leading online wholesale auction applications, which services wholesale buyers and sellers of new and used vehicles.
The wholesale market is huge, accounting for over 10 million autos sold annually and representing $93 billion in total market value. "To date, we have focused on delivering auction applications chiefly for use between our 3,300 member Accredited Dealer Network," said Autobytel.com President and CEO, Mark Lorimer. "With the creation of BASU, and by naming a proven industry veteran to drive it, we are taking significant steps towards turning what has been a sparkling-and often secret-gem of a program into the big leagues by widening the channel of wholesale commerce." As Director of BASU, Nashmy's portfolio will include dealer, manufacturer, and fleet and rental company relationships centered on Autobytel.com's auction platforms.
Autobytel.com provides buyers and sellers with the opportunity to substantially reduce the typical costs associated with purchasing pre-owned wholesale vehicles at traditional auto auctions. By using the Internet, both buyers and sellers can streamline a process that typically involves travel, labor fees, transportation fees and unnecessary administrative costs
"The traditional wholesale auction process has proven both costly and cumbersome. Why require wholesale buyers to travel around the country from auction to auction to replenish their pre-owned vehicle inventory when, instead, they can point-and-click from the convenience of their office?" asked Mark Lorimer, President and CEO of Autobytel.com.
"When I saw what Autobytel.com had already built around its B2B platform, I was impressed," said Nashmy. "Web-enabled communication, inventory management systems, training programs, 3,300 established dealer relationships, and 1,200 hosted dealer websites, all combined with the world's number-one branded car destination make Autobytel.com a tremendously exciting place to be."
"BASU will provide its buyers and sellers with an integrated suite of auction inventory, training, and analytical applications to give risk managers confidence that they can effectively lower what have, heretofore, been fixed costs," said Nashmy. "In addition, BASU will provide supply managers with assurance that they can access a huge array of vehicles, previously unavailable to them, at competitive real time prices."
Prior to joining Autobytel.com, Nashmy was General Manager of an ADP automotive direct marketing firm servicing 2,000 automobile dealerships throughout the U.S. and Canada. Nashmy also held numerous national management positions at Toyota Motor Sales, U.S.A., including National Dealer Network Manager for over a decade. There he was responsible for developing the national dealership communications network and management systems for Toyota, Lexus and Toyota Industrial Equipment Dealers. Prior to that, he was the general manager of a multi-franchise automobile dealership.
"Having been a student and a participant in the evolution of the automotive industry, it is clear to me that Autobytel.com will have the same profound impact on business auctions as it has had on consumer car buying; combining its market mastery with its domain expertise to revolutionize a multi-billion dollar segment of the automotive industry," said Nashmy. |
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