SANTA BARBARA, Calif.,
March 3, 2011 /PRNewswire/ -- ALG, a
subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK) and the
industry benchmark for residual values and depreciation data, today
announced that it expects a significant resurgence in the
automobile leasing market in 2011 that will continue through 2015.
The luxury market is predicted to lead the charge with a lease
penetration rate of nearly 43 percent by 2012, while lease
penetration in the mainstream market will increase to 17.5 percent
over the next two years.
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Numerous brands are expected to capitalize on this leasing
resurgence, based on the ALG 2011 March/April edition and current
high residual values forecasts, which allows them to offer highly
competitive monthly lease payments. The luxury brands with
the highest residual values ranked from one to five are: 1.
Land Rover, 2. Infiniti, 3. Acura, 4. Audi and 5.
Lexus. The mainstream brands with the highest residual
values ranked from one to five are: 1. Mini, 2. Subaru, 3.
Mazda, 4. Honda and 5. Hyundai.
As a result of their improved residual values over the past
year, Land Rover is expected to see the biggest gain in leasing in
2011 in the luxury brand category, while in the mainstream brand
segment, Hyundai is forecasted to realize the biggest gain in lease
deals in the coming years. The forecast also found that the
residual gap between brands continues to shrink, indicating an
increasingly more competitive leasing landscape for both the luxury
and mainstream markets.
"What we expect to see for the next several years is a very
positive environment for leasing due to low used vehicle supply
resulting in stronger used vehicle values, historically low
interest rates and an easing of credit requirements as the overall
economic recovery begins to take hold," said Eric Lyman, director, Residual Value Solutions
for ALG. "As a result, leasing is emerging as an excellent
option for dealers looking to move inventory and for buyers eager
to get into new vehicles at competitive prices."
About ALG (www.alg.com)
Based in Santa Barbara,
California, ALG is a leading provider of data and consulting
services to the automotive industry. ALG publishes the
"Automotive Lease Guide" – the standard for residual value
projections in North America, and
has been forecasting automotive residual values for over 45 years
in both the U.S. and Canadian markets. ALG is a company of
DealerTrack Holdings, Inc. (Nasdaq: TRAK).
About DealerTrack
(www.dealertrack.com/)
DealerTrack's intuitive and high-value software solutions and
services enhance efficiency and profitability for all major
segments of the retail automotive industry, including dealers,
lenders, OEMs, agents and aftermarket providers. The Company,
whose solution set for dealers is the industry's most
comprehensive, operates the largest online credit application
network in the United States,
connecting approximately 17,000 dealers with more than 950 lenders.
DealerTrack's Dealer Management System (DMS) provides dealers with
easy-to-use tools and real-time data access to enhance their
efficiency, while DealerTrack AAX delivers the inventory management
tools and services needed to accelerate used-vehicle turn rate and
help increase profits for dealers. The Company's Sales and
F&I solutions allow dealers to streamline the entire sales
process as they structure deals from a single integrated platform,
while also giving dealerships the ability to leverage vehicle
registration and titling services through DealerTrack. Its
Compliance Solution helps dealers meet legal and regulatory
requirements and protect their assets. For lenders, DealerTrack's
Processing Solutions offers services including titling, collateral
management, and digital document services. DealerTrack's family of
companies also includes data and consulting service providers ALG
and Chrome Systems. For more information, visit
www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the performance of
the U.S. auto leasing market and any conclusions or statements
based thereon, 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 the accuracy
of ALG's forecast, ALG's ability to interpret and predict trends
and other risks listed in our reports filed with the Securities and
Exchange Commission (SEC), including our Annual Report on Form 10-K
for the year ended December 31, 2010.
These filings can be found on DealerTrack's website at
www.dealertrack.com and the SEC's website at www.sec.gov.
Forward-looking statements included herein speak only as of the
date hereof and DealerTrack disclaims 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.
SOURCE DealerTrack Holdings, Inc.