DealerTrack Launches Industry's First Web-Based Aftermarket Network
11 2월 2006 - 10:00PM
PR Newswire (US)
Offers Free Online Integration with Aftermarket Providers LAKE
SUCCESS, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- DealerTrack
Holdings, Inc. (NASDAQ:TRAK) today announced the creation of the
DealerTrack Aftermarket Network. An industry first, the Aftermarket
Network will provide real-time aftermarket contract rating and
quote generation from participating providers of aftermarket
products, including Life of the South, LoJack, Old Republic Insured
Automotive Services Inc., Ultimate Warranty, Warrantech and others.
The Aftermarket Network will enable dealers to access their
aftermarket providers free of charge within DealerTrack. All
categories of aftermarket products will be represented on the
network, including extended service contracts; GAP, etch, credit
life and disability insurance; and vehicle recovery systems. Since
the Aftermarket Network will be fully integrated within the
DealerTrack platform, both dealers and aftermarket providers will
benefit from improved accuracy and elimination of duplicate data
entry. Dealers will also benefit from fewer chargebacks for
inaccurate or incorrect aftermarket contract information. Mark
O'Neil, chairman and chief executive officer of DealerTrack, said,
"We are excited to announce the launch of the DealerTrack
Aftermarket Network, a pioneering step that enhances DealerTrack's
position at the forefront of automotive retail technology
solutions. Just as DealerTrack's industry-leading credit
application processing product enables dealers to automate and
accelerate the financing process, our Aftermarket Network will now
bring similar efficiencies to the back end of the sales
interaction. This network initiates a new arena of technology
integration within the automotive retail industry." Prior to the
Aftermarket Network, dealers had few options available to boost the
efficiency of the F&I aftermarket sales process. Existing rate
and product guides can be cumbersome to use, sometimes difficult to
understand and are too often out of date. Their use often results
in returned contracts, sometimes requiring recontracting or costly
chargebacks. Currently, it is estimated that more than twenty
percent of contracts require manual follow-up due to inaccurate or
incomplete information. David Trinder, President of DealerTrack
Aftermarket Services, Inc., said "With the Aftermarket Network,
dealers can access 'live' information on available options for each
vehicle and deal, and identify offerings that best meet customer
needs and maximize dealer profitability. Using DealerTrack's
eMenu(TM) to structure the presentation to the customer further
enhances the process through a consistent sales approach with
significant compliance benefits. The results are increased
efficiency, time savings, greater accuracy and a decrease in
chargebacks." For aftermarket providers, linking with DealerTrack
creates the opportunity to further increase market penetration,
reduce administrative costs and drive up customer satisfaction.
About DealerTrack (http://www.dealertrack.com/) DealerTrack is a
leading provider of on-demand software and data solutions for the
automotive retail industry in the United States. DealerTrack
utilizes the Internet to link automotive dealers with banks,
finance companies, credit unions and other financing sources, and
other service and information providers, such as the major credit
reporting agencies. DealerTrack has established a network of active
relationships with over 21,000 automotive dealers, including over
80% of all franchised dealers; more than 200 financing sources,
including the 20 largest independent financing sources in the
United States and nine captive financing sources; and a number of
other service and information providers to the automotive retail
industry. DealerTrack's credit application processing product
enables dealers to automate and accelerate the indirect automotive
financing process by increasing the speed of communications between
these dealers and their financing sources. DealerTrack's integrated
subscription-based software products and services enable automotive
dealer customers to receive valuable consumer leads, compare
various financing and leasing options and programs, sell insurance
and other aftermarket products, document compliance with certain
laws and execute financing contracts electronically. Safe Harbor
for Forward-Looking and Cautionary Statements Certain statements in
this press release are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements
include the expected benefits of DealerTrack's new products for
DealerTrack's customers. These statements involve a number of
risks, uncertainties and other factors that could cause actual
results, performance or achievements of DealerTrack to be
materially different from any future results, performance or
achievements expressed or implied by these forward-looking
statements. Factors that might cause such a difference include:
increased competitive pressure from other industry participants and
the inability to execute any element of DealerTrack's business
strategy, including selling additional products and services to
existing and new customers; risks associated with DealerTrack's
systems and networks, including security breaches and events beyond
DealerTrack's control; the impact of the automotive retail industry
on DealerTrack's business; the impact of Federal and state
legislation on DealerTrack's business; DealerTrack's success in
expanding its customer base and product and service offerings as
well as in pursuing acquisitions and strategic alliances. Other
factors which could materially affect such forward-looking
statements can be found in DealerTrack's filings with the
Securities and Exchange Commission, including the risk factors
included in DealerTrack's Registration Statement on Form S-1 (File
No. 333-126944). Investors, potential investors and other readers
are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are only made as of the date of this press
release and we undertake no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. CONTACT: Liz Zale DealerTrack, Inc. (516) 734-3758
Jen Malloy RF/Binder Partners (212) 994-7542 First Call Analyst:
FCMN Contact: jen.malloy@rfbinder.com DATASOURCE: DealerTrack
Holdings, Inc. CONTACT: Liz Zale of DealerTrack, Inc.,
+1-516-734-3758, ; or Jen Malloy of RF/Binder Partners for
DealerTrack Holdings, Inc., +1-212-994-7542, Web site:
http://www.dealertrack.com/
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