TRADE X Announces Data Integration Agreement with Leading Automotive Data Provider Canadian Black Book
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:
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SOURCE TRADE X