SOURCE: CityXpress Corp.

June 04, 2007 04:00 ET

Mercury News Chooses CityXpress' XpressCars Platform for Bay Area Auto Dealer Auction

CarSearch360 to Offer New and Used Vehicles for Auction or "Buy Now" Sale

VANCOUVER, BC--(Marketwire - June 4, 2007) - CityXpress Corp., a leading developer of revenue-generating marketplaces for newspapers, today announced that the San Jose Mercury News and sister Bay Area newspapers have launched an online auto dealer auction on CityXpress' XpressCars platform. CarSearch360 will offer up to 540 new and used vehicles from regional dealers at discounted prices for sale by auction or through online "buy now" transaction.

CarSearch360, which runs from May 31 to June 6, will be the first online auto-only auction hosted by a California newspaper. The partner newspapers -- The Mercury News, Contra Costa Times and ANG Newspapers -- plan a second auction for July 14-18.

CityXpress developed the XpressCars platform out of its experience with 700 newspaper auctions, in which vehicles are consistently popular products. CityXpress auction clients have sold vehicles valued at more than $10 million to date.

XpressCars is an online auction supported by an ROP advertising program. It creates a unique marketing product which newspapers can offer to local auto dealers to reach new consumers, sell vehicles and generate sales leads, while growing dealer advertising lineage.

CarSearch360 is intended to compete directly with online auto auction sites such as eBay, offering aggressively discounted vehicles for a limited time period only, said Jeff Muhleman, director of marketing and business development for The Mercury News.

"We are positioning our auction as featuring a limited number of deeply discounted dealer overstocks. eBay, by comparison, features a huge number of vehicles at relatively typical market prices," said Muhleman. "XpressCars provides the functional, flexible platform that we believe will help us make the auction successful for our dealers, our bidders and our newspapers."

"The Mercury News has been among our most innovative and successful auction customers for several years now, and we're excited to be helping them develop this powerful new auto auction," said Phil Dubois, president and CEO of CityXpress. "One of the advantages which XpressCars offers to the CarSearch360 partner papers is the flexibility to allow them to host regular auto auctions or a continuous auction in the future."

Since 2002, CityXpress auctions have earned more than $170 million in revenue for over 375 newspapers in 15 countries.

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