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Tradeout.com Auctions 500 Penske Vehicles

September 21, 2000

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TradeOut (www.tradeout.com), an Internet marketplace for off-lease assets and business surplus, announced an online auction of Penske Truck Leasing sold more than 300 light and medium-duty trucks valued at $3.9 million. An additional 238 trucks worth $2.4 million were sold as a result of ongoing marketing activity, the company said.
The auction ran from Aug. 23-31 and was open to wholesale and retail customers.
In an earlier press release, Tradeout.com said Penske was putting 2,500 trucks on the market. But a Tradeout.com spokesperson said the company had not expected to sell that many units and was very pleased with the results of the auction. Remaining trucks from the auction are still available and selling, the company said.
According to Tradeout.com, about 60 auction buyers included dealers purchasing up to 80 trucks at once and small business owners purchasing single trucks. Most had not purchased from Penske in the past.

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