DealerTrack Launches Groundbreaking Solution For Auto Dealers To Purchase Customer Leads |
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By: DealerTrack Holdings, Inc. Posted: 2007-09-19 08:51:28 |
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DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced the introduction of the DealerTrack Leads Network(TM). The solution enables dealers to take greater control of the leads purchasing process by only buying the leads they need at a market price.
"We believe the new DealerTrack Leads Network could revolutionize the automotive leads business by giving dealers greater control and reducing the waste of time and money spent on undesirable leads," said Mark O'Neil, chairman and chief executive officer of DealerTrack. O'Neil continued, "Our Leads Network will be available to DealerTrack users on a pay-as-you-go basis, with no long-term contract or minimum purchasing commitment. The Network enables dealers to view leads from multiple providers all in one convenient place when they log in to DealerTrack. They can set the criteria they choose to screen leads and bid to purchase only the leads they want." Dealers using the Leads Network can set up customized filters for a variety of factors including location, vehicle make and model, and credit status. They can also bid on leads automatically based on their detailed specifications and price criteria. To facilitate budgetary control, the Leads Network allows the dealer to set daily or monthly expenditure caps, and to authorize only certain members of a dealership's staff to purchase leads. Once leads are purchased from the Leads Network, they are placed in a new "MyLeads" page, a centralized tool that enables easy access and management of all leads through DealerTrack. Because the Leads Network is fully integrated with the DealerTrack platform, dealers can submit credit applications generated from the leads directly to connected lenders without reentering any customer data. To facilitate its launch of the Leads Network, DealerTrack has entered into an exclusive and strategic relationship with LeadPoint, Inc., which has successfully introduced online leads exchanges for mortgages and other consumer loans. LeadPoint is providing valuable technology and business development resources to help build a comprehensive leads marketplace platform for the automotive industry. O'Neil concluded, "Given its inherent flexibility and economic advantages, combined with our distribution capability, we believe the DealerTrack Leads Network has the potential to fundamentally change how leads are purchased in the automotive industry, enhancing efficiency and profitability for our dealer customers." About DealerTrack DealerTrack Holdings, Inc. (Nasdaq: TRAK) is a leading provider of on- demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the company provides dealer management systems (DMS) through its Arkona, Inc., subsidiary. Over 22,000 dealers, more than 400 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit http://www.dealertrack.com. About LeadPoint Founded in 2004, LeadPoint is the world's first and largest leads exchange marketplace and has already traded over 2 million leads through its platform. Leads are competitively priced based on criteria and bidding by members of the LeadPoint community. The platform allows buyers to change bids in real time, and enables sellers to more efficiently sell leads and to enter multiple verticals simultaneously. LeadPoint trades leads in numerous verticals, including consumer lending, consumer credit, and business services, and provides a single platform that allows thousands of buyers and sellers to simultaneously engage in trading leads. The privately held company is based in Los Angeles, CA. Safe Harbor for Forward-Looking and Cautionary Statements Statements in this press release regarding DealerTrack, the benefits of the DealerTrack Leads Network and its effect on the automotive leads industry, 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 number of lead providers and dealers that participate in the DealerTrack Leads Network, the technical functionality of the DealerTrack Leads Network, 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. CONTACT: Raphael Carty DealerTrack (516) 734-3777 |
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