- PowerBand and D2D cloud-based platform is highly efficient and convenient for both dealers and buyers
- Virtual auctions have unlimited potential as COVID-19 disrupts automotive dealership and auction industries
- Online vehicle auction sector is expected to continue growing at a fast rate
- More than 40 million used vehicles exchange hands in the U.S. every year, 10 million of which are being sold through auctions
Online vehicle auctions are overtaking physical auctions at the speed of light. As a result, the future of auto sales seems to be online. In line with this prospect, PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) and D2D Auto Auction LLC have successfully launched and conducted virtual auctions in the United States. D2D is co-owned by PowerBand and Arkansas-based financier Bryan Hunt, director of J.B Hunt Transport, in a fifty-fifty partnership.
The highly successful virtual auctions, held on April 7th and April 16th, testified to the speed and efficiency of D2D’s unique transaction platform, which provides an alternative to physical auctions and their associated costs. Among the benefits of this platform to dealers and consumers is the elimination of the cost of delivering a…
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