Fleet News

GE online move

GE CAPITAL Auto Financial Services has launched an online auction to sell end-of-lease cars in the United States.

The company chose Bid.Com to create and run the site that aims to sell cars to North American dealers.

Bid.Com says its system 'allows pricing to fluctuate during an on-line auction, based on a pricing model and the dynamics of individual auction transactions'.

'We expect this new functionality to help us reduce our cost of sale and increase our revenue stream,' said Ray Floyd, vice-president of e-Business for GE Capital AFS.

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