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PowerBand Solutions Inc.’s (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Auto Trading Platform Increasingly Popular as Road Travel Ramps Up

  • Air travel industry facing a massive crisis as a result of the coronavirus pandemic
  • New air travel regulations expected to slow down process considerably, driving more consumers towards road travel alternatives
  • PowerBand and D2D cloud-based platform offers a convenient, efficient and safe option for buyers and dealers to buy, sell, lease and trade vehicles through their smart phones

PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) has launched a new platform in the cloud that lets people buy and sell cars and trucks with never-seen-before simplicity, speed, and cost-efficiency. This couldn’t have come at a better time, as road travel is expected to grow considerably over air travel as a safer alternative in a post-pandemic world.

Experts are referring to COVID-19 as the ‘new terrorism’ because it triggered a crisis of a magnitude never seen before in the airline industry. According to a Forbes article, there are multiple changes needed before airports can reopen to commercial routes safely, and even then, boarding procedures may become too lengthy and cumbersome resulting in considerable delays (http://ibn.fm/sv0mX).

As per the report, it could take up to four hours to check in going forward. Ninety percent of interviewed experts expect slower turnarounds between flights due to the need to follow sanitary measures at airports and clean cabins thoroughly.

Airports will need to commission extensive all-biometric check-in systems for dropping off bags, ‘travel bubbles,’ or tunnels for disinfection. They must also install larger spaces for queues and waiting, ensure demarcation of the spaces for social distancing in corridors and concourses, install plexiglass or other protective barriers at customer service counters, and set up hand sanitation stations and thermal scanning to check crowds for fever-grade body temperatures. These are already in use in some major airports.

All of these measures are expected to result in plummeting demand for air travel services, making auto travel a more viable alternative. And with nearly 90% of Americans reporting they dislike the car dealership experience, saying they feel anxious or uncomfortable in dealership settings, the industry has turned towards online solutions. Online-only vehicle auctions experienced a 33% compound annual growth rate between 2013 and 2017 compared to just 2% growth of physical auctions. The number is expected to grow exponentially as people are looking for safer ways to buy and sell vehicles so as to avoid crowded dealerships.

PowerBand’s cloud-based platform addresses all of these needs, as it as specifically developed around the core belief that consumers prefer to conduct automotive transactions online and avoid interactions with unnecessary middlemen. The platform will allow consumers to sell, buy, lease, auction and finance vehicles from their smart phones or other devices, irrespective of their location.

PowerBand has already successfully launched and conducted ‘virtual’ auctions in the United States together with and D2D Auto Auction LLC. D2D is co-owned by PowerBand and Arkansas-based financier Bryan Hunt, director of J.B Hunt Transport. The highly successful virtual auctions, which started in April, testify to the speed and efficiency of D2D’s unique transaction platform (http://ibn.fm/WpH0k).

The company is now rolling out the campaign across the United States, having partnered to this end with Source Digital, a pioneer in immersive commerce through the use of digital media platforms and video content on the internet. This unique campaign will use Source’s patented technology to promote PowerBand’s platform inside popular video content with various channels and influencers in the U.S. (http://ibn.fm/YIlmW).

For more information, visit the company’s website at www.PowerBandSolutions.com

NOTE TO INVESTORS: The latest news and updates relating to PWWBF are available in the company’s newsroom at http://ibn.fm/PWWBF

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