US INTERNET car buying giant Autobytel plans to launch an on-line car auction in Europe to sell ex-fleet cars.

The move follows the launch of Autobytel's Business Auction Systems Unit in the United States, and the development of Autobytel Europe divisions in the UK and Sweden, and soon in the Netherlands, Norway, Finland and Denmark.

Mark Lorimer, chief executive officer of Autobytel, confirmed the group's move into the European vehicle remarketing sector at the Economist Conferences' Automotive Conference, and said the company's target vendors will be fleets, finance, leasing and rental companies, and manufacturers and dealers.

'By using the internet, buyers and sellers can streamline a process that typically involves travel, labour fees, transportation fees and unnecessary administrative costs,' he said.

He added that the secret to the success of the venture would be Autobytel's ability to communicate the true condition of vehicles to potential buyers.

'You can outsource vehicle accreditation to a third party that inspects vehicles in a standard way,' said Lorimer.

'This will be needed in the UK and even more on the continent where there is no auction culture, so we are setting up a standardised methodology for the valuation and inspection in Europe.'

Initially Autobytel's auction service will act as a business-to-business wholesale service, although in the longer term it has plans to allow access to private individuals. (April 2000)