DealerTrack Names Mark F. O'Neil as CEO at NADA 2001

    LAS VEGAS--Feb. 5, 2001--DealerTrack has named Mark F. O'Neil as President and Chief Executive Officer of the company at this year's National Automotive Dealers Association convention. DealerTrack was launched last week by J.P. Morgan Chase & Co. , AmeriCredit Corp. , and Wells Fargo & Co. to revolutionize the auto loan process through a web-based solution for dealers, lenders and ultimately consumers. Mr. O'Neil, 42, brings to the company a wealth of experience in both the automotive and technology fields.
    After beginning his career with Intel in the early 1980s, Mr. O'Neil went on to become President of Ertley Motorworld, a dealer group comprised of 19 franchises in Northeast Pennsylvania. After 3 years at Ertley, in 1992 he became one of the three founders of CarMax. As Division President of CarMax, he ran day-to-day operations for this leading used car superstore company. In 2001, Mr. O'Neil joined Greenlight.com as President and Chief Operating Officer where he worked to foster dealer relationships enabling them to use the Internet as a tool to drive new business.
    "DealerTrack is the perfect extension of my prior experience, including my philosophy of focusing on customers' needs and finding innovative solutions to meet those needs," said Mark O'Neil, DealerTrack Chief Executive Officer. "DealerTrack, which is built by lenders for dealers, is a win-win-win by providing greater efficiencies for dealers, lower costs for lenders and an enhanced customer experience."
    DealerTrack will automate the entire dealer-to-lender process from application to approval and provide access to a wealth of financial information for dealers. Developed by three auto finance industry leaders, Chase Auto Finance, AmeriCredit and Wells Fargo, the DealerTrack system is a multi-lender platform, which will soon be adding other lender subscribers. The DealerTrack site (www.dealertrack.com) is available 24 hours a day, 7 days a week to eliminate dealers' dependence on the business hours of the lenders' operation. Equity financing has been provided to the new company by AmeriCredit, Wells Fargo and J.P. Morgan Chase's e-finance unit, LabMorgan.