Norfolk, VA – May 20, 2009
BoatTrader.com, the Web site of Boat Trader magazine and a division of Dominion Enterprises, today announced an agreement with GE Capital, Commercial Distribution Finance (CDF) that gives authorized marine retailers an opportunity to purchase current and non-current repossessed boats through CDF.
“Today’s market and economic conditions have led to above-average levels of inventory,” says CDF’s marine president, Bruce Van Wagoner. “This is driving the need for CDF to liquidate inventory quickly through the wholesale channel.”
To facilitate the liquidation of this inventory, CDF has entered into an arrangement with the largest marine classified site on the Internet, BoatTrader.com, which developed an innovative application to move the inventory quickly. CDF will be offering these units to the wholesale channel through the recently launched Wholesale tab in Boat Trader’s Inventory Management Tool. Marine dealers in the Boat Trader network will have immediate access to the Wholesale tab, where they can view, inspect and purchase these units.
“Boat Trader’s Dealer Network is nearly 3,000-strong, and we are excited to help companies like GE CDF to market repossessed inventory to the wholesale purchaser,” says David Bingham, general manager of BoatTrader.com. “Dealers have requested access to purchase repossessed units from CDF in the past and this offering is in direct response to that request.”
Boat Trader will also help dealers that purchase these wholesale units in their promotional efforts.
“Our commitment to our dealer network expands to the newly launched Wholesale tool, and we are excited to offer dealers purchasing these wholesale units special advertising upgrades and other exclusive offers to put their recent purchases in front of an extensive and targeted group of consumers,” adds Bingham. “Dealers that purchase a wholesale unit will have the opportunity to upgrade those boats to Premium Ads on BoatTrader.com. We know that Premium Ads generate an average 95% more leads than standard ads, and we want our wholesale purchasers to benefit from this additional exposure.”
Marine retailers not presently aboard with BoatTrader.com are invited to join the Boat Trader Dealer Network to showcase their current inventory to more than 1.5 million consumers each month and gain immediate access to GE Capital, CDF’s wholesale inventory. And, for a limited time, Boat Trader is offering a dealer gallery banner to GE dealers that sign-up. Dealer gallery banners reinforce the dealership brand and drive traffic to the dealership website.
About Boat Trader
Boat Trader (www.boattrader.com), a Dominion Enterprises business, is the largest database of boats for sale online. Headquartered in Norfolk, Va., it is part of the TraderMedia family of vehicle classified advertising magazines and websites that includes RV Trader (www.rvtraderonline.com), Cycle Trader (www.cycletrader.com), Aero Trader (www.aerotrader.com), Equipment Trader (www.equipmenttraderonline.com) and Commercial Truck Trader (www.commercialtrucktrader.com). For more information about Boat Trader, call toll-free 1-877-354-4069 or visit http://www.boattrader.com.
About Dominion Enterprises
Dominion Enterprises, Norfolk, VA., is a leading marketing services company serving recreation, employment, automotive, real estate, marine and industrial markets. The company has more than 40 market-leading Web sites, and operates a variety of Web and technology businesses. The company had 2006 annual revenue of more than $850 million and has more than 7,200 employees nationwide. For more information, visithttp://www.DominionEnterprises.com.
About GE Capital, Commercial Distribution Finance
GE Capital’s Commercial Distribution Finance business is a leading financing provider to manufacturers and their distributors. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. Additional information about CDF can be found online at www.ge.com/cdf.
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. For more information, visit the company’s Web site at www.ge.com.
