TORONTO, Sept. 16, 2021
/PRNewswire/ -- Trade X Group of Companies Inc. (TRADE X), a
global B2B cross-border automotive trading platform, today
announced that it has signed a data integration agreement with
Canadian Black Book (CBB), Canada's leading automotive data provider for
vehicle values, residual value forecast solutions and VIN decoding,
for undisclosed terms. Canadian Black Book's historical
post-transactional wholesale valuation and transactional data,
along with their proprietary Enhanced Vehicle Matching VIN Decoding
capabilities, will support TRADE X's international vehicle trading
software to facilitate maximized conversion and international
transactions between dealers on the TRADE X platform.
The partnership between TRADE X and Canadian Black Book will
facilitate the trade of pre-owned vehicles between Canada and the US. The data integration with
CBB will provide valuation data to car dealers, importers,
exporters, fleet owners, rental companies, and mobility solution
providers on the TRADE X platform, allowing for transparent and
real-time pricing on marketplace vehicles.
"TRADE X is filling a gap in the industry by offering a robust
digital automation tool to manage the seamless flow of vehicles
through foreign trade, which is a massive business," says
Yolanda Biswah, Vice President Sales
for Canadian Black Book. "The integration of Canadian Black Book
data into TRADE X's enhanced platform will ensure both Canadian and
U.S. dealers are accessing the most precise North American
automotive data available, throughout their transaction," she
adds.
"TRADE X provides a seamless solution for trading pre-owned
vehicles internationally. We have deployed a digital platform
whereby dealers, in different countries, can buy and sell cars
through a safe marketplace with transparent data and automated
transactions. We automate the processes and services that go into
getting a vehicle from one market to another. This is a
multi-billion-dollar market in terms of global pre-owned automotive
sales volume with no digital platform to service it, until now,"
says Ryan Davidson, Founder &
CEO at TRADE X. "With our first phase focusing on vehicle
flow from Canada to the US, we
knew we needed to partner with the most accurate and trusted
Canadian data provider, and Canadian Black Book was our obvious
choice. The combination of TRADE X's real-time transactional data
with the historical information from our partner at Canadian Black
Book provides TRADE X with a data set that is unmatched and adds
the most strategic value to the cross-border automotive industry.
The industry has been desperately needing the transactional data
that we have, and it will provide a critical competitive advantage
to those who have access to it," he adds.
About TRADE X
With headquarters in Ontario,
Canada, TRADE X is the first global vehicle marketplace to
aggregate cross-border supply and demand for car dealers, fleet
owners, rental companies, mobility solution providers, importers,
and exporters, opening new trading corridors to buy and sell
vehicles. The TRADE X 'Brain' platform is a machine-learning,
AI-driven technology that connects buyers and sellers through a
transparent marketplace that aids sellers in finding the world's
highest bidders and gives buyers access to the best source markets
and price arbitrage opportunities. Users can quickly and seamlessly
transact online in a secure environment with all the complexities
of international trade – compliance, anti-money laundering
regulations, vehicle inspection, currency exchange, digital trade
documentation, payments, and financing – all managed by TRADE X.
The company serves authorized buyers and sellers everywhere with a
user-friendly app available 24/7 via mobile, tablet, or desktop.
TRADE X's largest investors include Aimia Inc., a publicly-traded
holding company listed on the Toronto Stock Exchange (TSX: AIM). To
learn more, please visit www.tradexport.com.
About Canadian Black Book
For almost 60 years, Canadian Black Book has been the trusted
and unbiased Canadian automotive industry source for vehicle
values. Today the company has grown into a leading data
provider of vehicle valuations, residual value forecast
solutions, and VIN decoding. Canadian Black Book tools and
information are considered 'The Authority' for vehicle values not
only by car dealers and manufacturers, but also the leasing,
finance, insurance, and wholesale sectors. In 2020 Canadian Black
Book brought to market its Enhanced Vehicle Matching (EVM) VIN
Decoding solution, allowing the industry to accurately decode
17-digit VINs down to a specific trim and option package, producing
the most precise vehicle valuation. For more information about
Canadian Black Book, please
visit https://www.canadianblackbook.com/.
TRADE X CONTACT:
Shelley
Keller
Director of Brand
shelley.keller@tradexport.com
MEDIA CONTACT:
John
Hanlon
JConnelly for TRADE X
(973) 796-6106
jhanlon@jconnelly.com
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SOURCE TRADE X
