AutoCastle Launches Online Auto Auction
March 17, 2005
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HOUSTON (March 17, 2005) -- AutoCastle has launched an online auto auction at www.autocastle.com to bring car buyers and dealers together in a virtual marketplace.
Free of charge, car buyers can send in a purchase request to AutoCastle for any vehicle, then watch dealers compete to offer the lowest sales price.
AutoCastle.com is both a car buyer's auction and quote service. Once a buyer requests a car and sets the length of the auction, any new or used vehicle dealer can compete to offer the lowest price. While anyone can request sales quotes, company officials said only licensed dealers are permitted to bid in auctions.
"We saw tremendous demand from buyers for this online service, and now we are even more excited about the launch," said Alexei Fomine, president and chief executive officer.
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