Consumers Can Walk a 70-Acre Virtual Car Lot
in Breakthrough Online Car-Buying Test from General Motors
and Autobytel.com
D.C.-Metro Area Residents to Preview Revolutionary Way
To Shop for a Chevrolet
WASHINGTON, May 2 Shopping for a new car, truck or van has
become easier for consumers looking for a Chevrolet in the Washington, D.C.-
metro area. For the first time, thanks to an agreement between General Motors
and Autobytel.com to conduct a 90-day test that
began May 1, consumers logging onto Autobytel.com can virtually walk a 70-acre
car lot, seeing up to 6,000 in-stock vehicles at all 22 D.C.-area Chevrolet
dealers.
Chevy buyers in the D.C. area can log on at http://www.autobytel.com/showroom and
view photos, specific vehicle information and even an e-price of actual cars
and trucks on dealer lots. After selecting a vehicle, consumers can choose
any of the area's 22 Chevrolet dealers to finalize the purchase.
This locate-to-order test was first announced in February as part of a
General Motors initiative to work with its dealers to respond to consumers who
wish to shop for vehicles online. GM is responding to research that shows
that consumers have a 3 to 1 preference for all makes, all model sites, like
Autobytel.com, which offer buyers unbiased information and an objective,
haggle-free buying process.
"It takes the guess work out of car shopping. Consumers don't have to
wonder if a car or truck exists or drive to five dealerships to find it," said
Neil Kopit of Criswell Chevrolet in Gaithersburg, Maryland.
The online test creates a virtual car lot comprised of thousands of
vehicles posted by 22 local Washington, D.C. metro area dealerships.
Physically, it would take approximately 70 acres of land (304,900 square
feet), nearly four times the size of the White House grounds, to offer
consumers this kind of inventory in one place. Taking it to the Internet
means consumers don't have to drive hundreds of miles to several different
area dealerships, saving hours of hassle, not to mention gallons of gas.
Individuals with a zip code in Washington, D.C., Northern Virginia and
Southern Maryland will be able to log on and participate in the test. GM
selected the region to preview this locate-to-order system because there is a
high level of Internet usage in the area and many people who live in the area
shop for cars online.
"If I were to pick an area in the country for testing a new information
service like this, I would certainly pick Washington, D.C.," said Dr. C.
Dianne Martin, Director, Cyberspace Policy Institute at George Washington
University. "The area has a very affluent population that is technologically
savvy and has actually already been buying cars in non-traditional ways."
The test will not affect any of the options available to online buyers of
non-Chevrolet products.
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 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 and its wholly-owned subsidiary, A.I.N. Corporation
(Carsmart), have a network of 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 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'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), Netherlands
(http://www.autobytel.nl), Japan (http://www.autobytel-japan.com), Australia
(http://www.autobytel.com.au) and Spain (http://www.autobytel.es). Headquartered in Irvine,
California, Autobytel 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.
ww.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, including statements about projected revenues, 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 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 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, the failure to realize anticipated
synergies related to the proposed merger with Autoweb, failure to obtain
required stockholder or regulatory approvals or the merger not closing for any
other reason, failure of the combined company to retain and hire key
employees, difficulties in successfully integrating the parties' businesses
and technologies and other matters disclosed in Autobytel's filings with the
Securities and Exchange Commission. Investors are strongly encouraged to
review our annual report on Form 10-K for the year ended December 31, 2000,
and other reports 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 our stock.
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