AIM Aimia Inc

The Company will open a trade corridor from Mexico to other left-hand drive markets to facilitate global pre-owned automotive trading

TORONTO, Nov. 9, 2022 /PRNewswire/ -- TRADE X, a B2B cross-border automotive trading platform with its headquarters based in Ontario, Canada, today announced that it will open a new trade route and physical location in Mexico, one of the world's most important automotive hubs, which will enable the country's dealers and fleet owners to buy and sell pre-owned vehicles via TRADE X's global platform.

Both an export and import market, Mexico is a major manufacturing hub and boasts one of the highest percentages of dealerships per square mile in the world. The company is celebrating the opening of the new corridor with an event for registered dealers in early November.

"We're excited to connect automotive buyers and sellers in this highly important market," said Ricardo Ampudia, Director of Sales, Mexico for TRADE X. "Over the past few years, we've seen a dramatic rise in interest in used vehicles, as buyers who have been unable to purchase a new car look to purchase a used vehicle from their local dealer instead. We look forward to working with Mexico's dealers, fleet companies, and mobility providers to meet their needs and facilitate trusted and seamless trade for them between Mexico, Canada, and Nigeria to start, with further corridors opening to Mexico in the future."   

"Mexico is a critical trade market in the global used automotive industry," said Eric Gosselin, SVP of Global Business Development for TRADE X. "Our goal is that Mexico will serve as our focal point for our Latin America growth and expansion. Launching our TRADE X platform for Mexican dealers will allow them to showcase local inventory to dealers around the world. We also believe this trade corridor will open new and untapped revenue streams for all dealers, countries, and trade partners."

Automotive dealers, fleet owners, rental companies, mobility solution providers, along with importers and exporters, can utilize the TRADE X platform on their desktop, or via the TRADE X Global mobile app, to trade vehicles quickly and easily with other automotive professionals around the world. Dealers can use the marketplace to request specific makes or models using the platform's "Instant Request" feature, review specific search results to assess real-time pricing, and make vehicle purchases safely, transparently, and compliantly. TRADE X offers access to a simplified trade process by handling common complexities, including logistics, quality checks, currency exchange, engaging registered importers, shipping, real-time pricing analytics, homologation, retitling, and customs clearance.

"The opening of our new facility in Mexico and the launch of our newest trading corridor represents a major milestone for TRADE X," said President and Chief Operating Officer Luciano Butera. "We're looking forward to connecting dealers in Mexico to the broadest network of authorized automotive buyers and sellers globally, improving how used vehicles are bought and sold across international borders."

Last year, automotive companies in Mexico manufactured almost 3 million new automobiles for export outside of the country. With Mexico and other markets struggling to meet increased demand, many Mexican dealers have started importing vehicles, a relatively new process for dealers in the country.  

In Mexico, popular automotive brands include Nissan, General Motors, Volkswagen, Toyota, and Kia, among others.

Automotive dealers, fleet companies, and mobility providers in Mexico who are interested in trading via the TRADE X platform can sign up at tradexport.com to begin the process of buying and selling vehicles.

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 vehicle 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.

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SOURCE TRADE X; Aimia Inc.