EuroLease Fleet Services AE , a member of the Inchape sholding SA Group of companies and one of the most dynamic companies in the field of automotive services, and cosmoONE Hellas Marketsite SA, a member of the OTE Group of companies, announce the start of their cooperation. Its purpose is the sale of vehicles from long-term rental services (operating leasing), via the Online Auction service of cosmoONE.

The cooperation between the two companies is to provide advisory services for the design of electronic auctions, communication, education and information of participants-dealers, conducting and technical support of electronic auctions by cosmoONE.

cosmoONE has already implemented similar auctions with the participation of one hundred and twelve (112) companies marketing cars, and hopes that this number will increase through the cooperation with EuroLease. It is noted that EuroLease is the second firm in the operating lease industry which elects cosmoONE’s services for the sale of vehicles since respective online auctions of the Dutch and English type have already been successfully implemented.

The online process provides significant benefits for both the Organizer and the car dealers. Specifically, it optimizes the selling price as a result of the intensity of the competitive process between traders. In addition, it saves time and resources for the organizer because of the short duration of the electronic auctions. Also, it ensures full transparency in the process, because of equal opportunities and the same information to all traders. Finally, it is noted that the whole process does not require the physical presence of the traders and/or the organizer, rather participation in and supervision of the auction can be made directly through simple access to the Internet.

EuroLease expressed its belief that the benefits which will accrue from the development of this alternative channel will allow the enlargement of its purchasing base and the increase of its turnover. It is also expected that it will achieve satisfactory reduction in the cost of the entire sales process and thus a corresponding increase in profit margins.

cosmoONE Hellas MarketSite, after the success of the first electronic auctions of used vehicles, continues even more vigorously its productive contacts with key operating lease industry representatives to establish electronic auctions as an alternative sales channel in this sector, streamlining the respective supply chain.