LAKE SUCCESS, N.Y., June 5, 2006 /PRNewswire via COMTEX News Network/ -- DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK) today announced the expansion of its network to integrate the lead management systems of auto lead providers with DealerTrack's sales and finance solution for automotive dealers. Bar None and BlueSky Marketing Group were the first lead providers to offer integration with DealerTrack to their dealer customers, launched earlier in 2006. InterActive Financial Marketing Group, which operates CARLOAN.com, AUTOLOAN.com and 1-800-AUTO-LOAN, recently became the third provider to go live on the network.
Dealers who purchase leads from participating providers can directly import lead and customer information into the DealerTrack network and work those deals seamlessly from leads through financing. DealerTrack provides free access to information about all of a dealership's leads from connected lead providers, as well as those from their own website.
"The value of a lead greatly diminishes with time. DealerTrack enables lead providers almost real time distribution into the F&I office or sales desk, thus increasing the probability of lead closure," said Vince Passione, president of DealerTrack, Inc. "We also provide additional functionality that enables dealers to manage leads more effectively, convert more leads into sales, and analyze the performance of their lead providers."
Dealers can view complete details about individual leads, and see at a glance whether credit applications were submitted for particular leads. They can automatically pre-fill and submit a credit application or a credit bureau application with a couple of mouse clicks. Information from lead providers can also be transferred electronically to SalesMaker(TM), DealerTrack's new desking and profit management solution, enabling the dealer to quickly identify the most profitable vehicle and financing options for particular leads.
Passione added, "By integrating lead providers with the DealerTrack network, our solution spans even more aspects of the automotive sales and finance process, from lead acquisition through desking, credit applications, aftermarket sales, and eContracting. Dealers benefit as we continue to streamline their process, while lead providers can grow more rapidly by leveraging the broad distribution capabilities of the DealerTrack network."
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 21,000 dealers, with more than 85% of all franchised dealers; more than 225 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 the development and expansion of DealerTrack's products and services, the demand for DealerTrack's products and benefits to dealers, benefits to lead providers and integration with 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 selling additional products and services to existing and new customers; DealerTrack's success in expanding its customer base and product and service offerings; ability to integrate acquisitions; the impact of the automotive retail industry on DealerTrack's business; the impact of some vendors of software products for automotive dealers making it more difficult for our customers to use our products and services, and other risks listed in the Company's reports filed with the SEC, including DealerTrack's 2005 Form 10-K. These filings can be found on DealerTrack's website 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 the Company 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.
CONTACT: Liz Zale DealerTrack, Inc. (516) 734-3758 firstname.lastname@example.org Kirsten Plonner RF|Binder Partners (212) 994-7546 email@example.com
SOURCE DealerTrack, Inc.
Liz Zale of DealerTrack, Inc., +1-516-734-3758, firstname.lastname@example.org; or Kirsten Plonner of RF|Binder Partners for DealerTrack, Inc., +1-212-994-7546, email@example.com
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