During the first quarter of 2011, uShip saw a company-record $7.6 million in vehicle and motorcycle shipping transacted on its site, an increase of 24 percent over Q4 2010 (the previous high) and 33 percent over Q1 2010. The online transport marketplace also saw more than 56,000 listings in the U.S. – 40,000 vehicles and 16,000 motorcycles – posted on its site during the first quarter, up 30 percent over last quarter. Revenue from vehicle and motorcycle transport also increased by 24 percent.
“uShip’s first quarter numbers outpaced the market at large as shipping rates remained very competitive despite record highs in diesel fuel costs,” said Dean Xeros, General Manager, uShip Motors. “Across uShip, listings serve as a barometer of consumer and dealer demand. A 30 percent increase quarter-over-quarter in vehicles and motorcycles can be attributed to a strengthening economy and positive impact from our eBay Motors integration.
“This upward trend will only get stronger over the next two quarters as uShip’s marketplace pricing model gains wider acceptance, relocation season kicks in, and boating season hits full stride. We forecast this to be the most active market since summer 2007.”
uShip Motors, which comprises vehicles, motorcycles and boats categories, saw $30M in business transacted in 2010. Overall, the uShip marketplace has attracted $200 million in business.