DealerTrack Achieves Milestone of 350 Active Financing Sources in its Network
23 4월 2007 - 11:00PM
PR Newswire (US)
LAKE SUCCESS, N.Y., April 23 /PRNewswire-FirstCall/ -- DealerTrack
Holdings, Inc. (NASDAQ:TRAK), a leading provider of on-demand
software, network and data solutions for the automotive retail
industry in the United States, today announced that the number of
active financing sources connected to the DealerTrack(R) network
has reached 350. Among the recent additions is Maserati Financial
Services. "We are excited to reach this milestone," said Mark
O'Neil, chairman and chief executive officer of DealerTrack. "The
continued expansion of the DealerTrack network makes it
increasingly beneficial for our over 22,000 dealer customers. By
providing efficient online access to the industry's largest, most
diverse network of automotive lenders, we are helping dealers to
best meet their customers' needs and sell more vehicles." "The
integration of the DealerTrack system and our underwriting platform
has produced results beyond all expectations," said Todd Trawick,
senior director of Maserati Financial Services. "The efficiencies
realized throughout our underwriting process are truly amazing."
Approximately 89 percent of all franchised automotive dealers in
the United States are active in the DealerTrack network. Through
DealerTrack, dealers can electronically submit credit applications
to the industry's largest and most diverse network of banks,
finance companies, captive finance companies, credit unions and
regional banks. In addition, DealerTrack offers subscription
products to dealers that integrate with the credit application
process and provide an end-to-end sales and finance solution.
Products and services in the DealerTrack network improve sales
performance, assist with inventory management, and help to increase
sales and finance profits. DealerTrack's solutions enhance
compliance while integrating leads, desking, electronic contracting
and menu-selling. About DealerTrack (http://www.dealertrack.com/)
DealerTrack (NASDAQ:TRAK) is a leading provider of on-demand
software and data solutions for the U.S. automotive retail
industry. The company's online credit application processing
product automates and accelerates the automotive financing process,
while its integrated subscription-based software enables dealers to
receive consumer leads, compare financing and leasing options, sell
insurance and other aftermarket products, document compliance, and
execute financing contracts electronically. Over 22,000 dealers,
with more than 85% of all franchised dealers; 350 financing
sources, including nine captives and the 20 largest U.S.
independents; and other service and information providers are
active in the DealerTrack network. Safe Harbor for Forward-Looking
and Cautionary Statements Statements in this press release
regarding DealerTrack, the benefits of the expansion of the
DealerTrack network, the benefits of our products and services,
connecting additional financing sources to the DealerTrack network,
and all other statements in this release other than the recitation
of historical facts are forward-looking statements (as defined in
the Private Securities Litigation Reform Act of 1995). 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, the inability to execute any element of
DealerTrack's business strategy, including the retention of dealers
and financing source customers; selling additional products and
services to existing and new customers; success in expanding our
customer base and product and service offerings and integrating
acquisitions; and other risks listed in our reports filed with the
SEC, including our Annual Report on Form 10-K for the year ended
December 31, 2006. These filings can be found at
http://www.dealertrack.com/ and the SEC's website at
http://www.sec.gov/. Forward- looking statements included herein
speak only as of the date hereof and we disclaim any obligation to
revise or update such statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events or circumstances. CONTACT: Greg Slote, DealerTrack (516)
734-3921 Tom Pratt RF|Binder Partners (212) 994-7563 DATASOURCE:
DealerTrack CONTACT: Greg Slote, of DealerTrack, +1-516-734-3921, ;
or Tom Pratt, RF|Binder Partners, +1-212-994-7563, , for
DealerTrack Web site: http://www.dealertrack.com/
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