Edmunds.com Announces Retirement of Vice Chairman Jeremy Anwyl

SANTA MONICA, CA--Aug. 9, 2013: Edmunds.com today announces the retirement of its Vice Chairman, Jeremy Anwyl.

"In the nearly fourteen years Jeremy has been with the company, we have experienced exponential growth in revenue and expanded in size from 50 employees to over 550," commented Edmunds.com Chief Executive Officer Avi Steinlauf. "We appreciate Jeremy's contributions to the company and wish him well in the next chapter of his life."

"Being with Edmunds.com during the Internet's boom has been a remarkable experience," said Anwyl. "I've witnessed many interesting developments in the auto industry and I look forward to seeing the changes yet to come."

Anwyl, who relocated to the Las Vegas area earlier this year, has plans to keep up his automotive industry activities by consulting through Marketec Systems, the company he founded in the 1990's that led him to a full-time role with Edmunds.com in 2000. Through Marketec Anwyl has agreed to provide strategic consulting to Edmunds.com.

Steinlauf, who has served as an executive for Edmunds.com for 15 years and as CEO for nearly two years, notes that the company has been preparing for Anwyl's departure and is well positioned to not miss a beat given this development. Steinlauf, Edmunds.com President and Chief Operating Officer Seth Berkowitz and other members of the Edmunds.com team have assumed all of the responsibilities previously held by Anwyl.

Steinlauf and Berkowitz together guided the recent shift in Edmunds.com's strategy; the privately held company, well established as an automotive information resource, is now entirely focused on improving the car shopping process by building a critical bridge of trust between car shoppers and dealers.

To that end Edmunds.com launched Price Promisesm through which dealers guarantee prices to create a car-buying experience that is more consistent with today's most satisfying retail experiences, such as those on Amazon.com. Price Promisesm is the first in a series of Edmunds.com "Promise" services that are on track to make a positive difference on consumers' car shopping experience.

Since Price Promisesm launched, Edmunds.com has collected feedback from consumers and that indicate that both sides benefit from the service. When Price Promisesm is used, consumers are far more satisfied with their shopping experiences, and dealers close sales at higher rates. In fact, Price Promisesm dealers have seen customer contacts increase as much as 100 percent and their closing rates with shoppers within a 15-mile radius increase by an average of 15 percent.

The company's new focus on improving the car shopping process will be promoted in its first-ever national television advertising campaign launching at the end of the year.