Autobytel.com, General Motors Select
Washington D.C. Area Chevrolet Dealers to Test
Locate-to-Order Sales Model
IRVINE, Calif., March 21 Autobytel.com and
General Motors Corp. today announced they have selected the
Washington D.C. area and the Chevrolet brand to conduct a 90-day test of the
locate-to-order business model announced by the two companies a month ago.
The test program will combine the independent all makes, all models capability
of Autobytel.com with a new GM locate-to-order vehicle inventory model.
Chevrolet dealers in the Washington D.C. area, which includes Northern
Virginia, Southern Maryland and the District of Columbia, will participate in
the test.
"General Motors is very forward thinking in its e-commerce initiatives and
Autobytel.com is proud to be a part of their locate-to-order test program,"
said Mark Lorimer, Autobytel.com's president and CEO. "We look forward to the
feedback from both dealers and consumers in the Washington D.C. area."
"By choosing Chevrolet, we have the opportunity to test a high-volume
brand that has the industry's broadest array of products appealing to a wide
customer base," said William J. Lovejoy, GM group vice president, North
America Vehicle Sales, Service and Marketing.
"Washington D.C. is an ideal location for this test because it has one of
the highest levels of Internet penetration and Internet vehicle shoppers in
the U.S.," said Mark Hogan, GM group vice president and president of eGM.
"This is an area where a large number of consumers feel extremely comfortable
with online vehicle shopping and buying, which will allow us to deeply analyze
both dealer and consumer acceptance of the new locate-to-order model."
The test is designed to help GM and its dealers learn how to create an
effective online locate-to-order system that displays a market area view of
available inventory and enables consumers to purchase selected vehicles at a
dealer-set online e-price. Vehicle buyers will not only be able to find a
Chevrolet car or truck they wish to purchase, but also select a preferred
Chevrolet dealer to complete the sales transaction.
"Testing this new locate-to-order model on the Autobytel.com site will
help us determine the best way to sell Chevrolets to online vehicle buyers,"
said Gerry Ryan of Sport Chevrolet in Silver Springs, MD. "We look forward to
making this test a success and, ultimately, selling more Chevrolet cars and
trucks in the D.C. area."
About General Motors
General Motors , the world's largest vehicle manufacturer,
designs, builds and markets cars and trucks worldwide. In 2000, GM earned
$5 billion on sales of $183.3 billion. It employs about 386,000 people
globally. GM is investing aggressively in high technology and e-business
within its global automotive operations and through such initiatives as e-GM,
GM BuyPower, OnStar and its Hughes Electronics Corp. subsidiary.
GM also operates one of the world's largest and most successful financial
institutions, GMAC. More information on General Motors can be found at
http://www.gm.com.
About autobytel.com inc.
Autobytel.com inc. , the global leader in online automotive
commerce, brings car buyers, owners, and sellers together in a trusted
environment, empowered by the Internet. Through its extensive automotive
content and multiple purchasing, financing, insurance and service options,
Autobytel.com offers consumers choice and peace of mind throughout the
automotive lifecycle, while providing its network of accredited dealers and
automotive services partners the most efficient way to reach online car buyers
and owners. Autobytel.com and its wholly-owned subsidiary, A.I.N. Corporation
(CarSmart.com), have a network of over 5,000 dealers nationwide and are the
seventh largest generator of automotive sales in the United States, just
behind GM, Ford, DaimlerChrysler, Toyota, Honda and Nissan. Autobytel.com has
been ranked #1 in Dealer Satisfaction with Online Buying Services for three
years in a row by J.D. Power and Associates.(1) Autobytel.com's low-cost,
no-haggle car-buying program is available in the U.S., Canada
(http://www.autobytel.ca), the United Kingdom (http://www.autobytel.co.uk), Sweden
(http://www.autobytel.se), Japan (http://www.autobytel-japan.com), the Netherlands
(http://www.autobytel.nl), and Australia (http://www.autobytel.com.au). Headquartered in
Irvine, California, Autobytel.com is recognized as the company that
transformed the $1 trillion new car industry when it invented online car
buying.
(1) J.D. Power and Associates 1998 - 2000 Dealer Satisfaction With Online
Buying Services Studies(SM). 2000 study conducted among dealership
Internet specialists who completed 2,144 evaluations of individual
services. http://www.jdpower.com.
The statements contained in this press release that are not historical
facts are forward-looking statements under the federal securities laws. These
forward-looking statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are difficult to
predict. Actual outcomes and results may differ materially from what is
expressed in, or implied by, such forward-looking statements. Autobytel.com
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. Among the
important factors that could cause Autobytel.com's actual results to differ
materially from those expressed in, or implied by, the forward-looking
statements are changes in general economic conditions, increased or unexpected
competition, changes in A.I.N. Corporation's financial performance, and other
matters disclosed in Autobytel.com's filings with the Securities and Exchange
Commission. Investors are strongly encouraged to review the Company's annual
report on Form 10-K for the year ended December 31, 1999, and quarterly
reports on Form 10-Q on file with the Securities and Exchange Commission for a
discussion of risks and uncertainties that could affect operating results and
the market price of the Company's stock.
