Top BMW Dealer Installs DealerAdvance by Stronghold Technologies

    GREENWICH, Conn. & WHIPPANY, N.J.--Oct. 4, 2001--

Mobile Technology Positions Luxury Auto Retailer More Competitively

    Andy Feuerstein, co-owner of Competition and Sports Cars, LTD., in Greenwich, Conn. isn't letting the economic downturn stop him from investing in innovative technology.
    Feuerstein is moving ahead by installing the DealerAdvance(TM) mobile sales system at his dealership, one of the top BMW dealerships in the country.
    "The possibility of a diminishing number of new vehicle sales in this economy makes it more urgent than ever to communicate with customers in the most effective way, which makes investing in a technology such as DealerAdvance even more attractive to me," said Feuerstein.
    According to Bob Schnorbus, chief economist for J.D. Power and Associates, a consumer-oriented global marketing information services firm, the sooner dealers upgrade their technology, the better off they will be. "The cost of capital is favorable. Interest rates are low, and if cash flow is solid enough, a technology upgrade makes sense," said Schnorbus. "If dealers want to get ahead of the competition, they need to implement technology that will not only improve efficiencies but their access and reach to customers."
    For Feuerstein, that technology is DealerAdvance. DealerAdvance is a groundbreaking mobile application for automotive retailing developed by Stronghold Technologies using wireless, handheld devices that have the memory and processing power of a PC to store, manage and distribute information in real time.
    "DealerAdvance maximizes our ability to communicate with consumers more effectively and track and follow-up on prospects," said Feuerstein.
    With DealerAdvance, sales consultants gather customer needs and contact data electronically; check new and used car inventory; register customers into the dealership's database for follow-up; and issue reports of all customer information and product queries on the spot.
    "Dealers have two choices in a down economy -- they can either reduce costs or more aggressively improve closure rates," said Chris Carey, CEO and president of Stronghold Technologies.
    "The reality is that our business has been fairly normal, but I believe that is a function of our demographics," Feurestein added. Competition and Sports Cars Ltd. is located in Fairfield County, Conn., one of the most affluent counties in the United States.
    BMW posted national record sales for the first eight months in 2001, with 145,357 vehicles sold, an increase of 20 percent over last year. BMW is ranked as the second top-selling luxury brand in the United States, and Feuerstein said that sales at Competition and Sports Cars, LTD. are maintaining a steady pace.
    "Luxury car sales will perform relatively better than any other segment of the car industry, but expect sales to be down three or four percent," said Maryann Keller, an auto industry analyst and consultant whose firm, Maryann Keller and Associates is based in Greenwich.
    "Certainly there have been heavy wealth effects on the stock market, but if the upscale end of the market is able to absorb the temporary loss, then they will just continue to buy luxury cars," said Schnorbus, adding, "We're anticipating that the luxury market will stay strong, though we have to be a little cautious of the uncertainty regarding political developments."
    "As a business person in the midst of a slowdown, it is important to find creative ways to improve closure rates," added Carey. "Investments in high tech and high touch systems that allow dealerships to share knowledge, communicate and follow-up with consumers on a more personal level will achieve maximum results."

    About Stronghold Technologies

    Founded in August 2000, Stronghold Technologies (www.strongholdtech.com) is a privately held mobile application solutions company based in Whippany, N.J., with offices in San Francisco, Calif. and a product development center in Sterling, Va.