Business
PowerBand Signs Letter of Intent With CB Auto Group
More Than 67 Million U.S. Consumers Will Have Access to DRIVRZ , PowerBand's Virtual ...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand Signs Letter of Intent With CB Auto GroupMore Than 67 Million U.S. Consumers Will Have Access to DRIVRZ, PowerBand's Virtual Transaction Platform to Buy, Lease, Sell and Trade Cars and TrucksVANCOUVER, BC / ACCESSWIRE / November 4, 2020 / PowerBand Solutions Inc. (TSXV:PBX)(OTCQB:PWWBF)(FSE:1ZVA) (\"PowerBand\", \"PBX\" or the \"Company\") is pleased to announce that it has signed a Letter of Intent to partner with CB Auto Group, Inc. (\"CB Auto\") that will give CB Auto's membership direct access to DRIVRZ, PowerBand's virtual platform to buy, lease, sell and trade cars and trucks.Under the proposed agreement, CB Auto's membership - consisting of more than 67 million people - will be directed to DRIVRZ when they are looking to acquire new or used vehicles. Additionally, PowerBand will be able to market DRIVRZ, along with associated services and products, exclusively to that membership.\"This partnership will put DRIVRZ in front of millions of U.S. consumers, who will be able to buy, lease, sell, trade and finance a car and truck from their smart phone, as easily as buying a product on Amazon,\" said PowerBand CEO Kelly Jennings. \"This is another important step in the commercialization of DRIVRZ.\"Founded in 2016, CB Auto Group provides union members and their families access to the Union Auto Program, which offers car-buying services, free benefits, fair pricing and protective products, all designed to provide transparency and confidence when they purchase or lease a new or used vehicle.CB Auto has access to more than 43 million union members and their families in its customer base. There are also more than 24 million \"affinity\" members from other associations, such as the alumni of Georgia Tech, the University of Tennessee, ADP, Nike and many others, bringing CB Auto's total consumer base to more than 67 million.Based on NADA data, union members alone are presently buying over 3.4 million vehicles from franchise dealers nationwide.CB Auto augmented its automotive program in 2020 by launching the CB Absolute Advantage, which the company describes as \"a member benefits program that provides medium to large businesses, alumni groups, affinity groups, and more, with this concierge car-buying service, along with additional savings and benefit options unlike anything in the automotive industry.\" DRIVRZ will now be off...