CarsDirect.com Extends Its Award Winning Services to Used Car Market with Unique Sales Channel and Expanded Research Center
LOS ANGELES--Feb. 6, 2002--CarsDirect.com, the leading multi-brand online car buying service, plans to offer the 30 million consumers who will purchase a previously owned vehicle during the next year a unique new online experience.
The company announced today that it will introduce a Used Car sales channel to complement its two award-winning New Car online buying services. The Used Car service will help consumers research, locate and purchase quality used cars from a national network of leading dealerships, all with the same superior level of convenience and speed that CarsDirect.com new car buyers already enjoy.
To lay the foundation for this expansion, CarsDirect.com also announced the extension of its strategic partnership with automotive industry technology leader Reynolds and Reynolds . This world-class partner will provide CarsDirect.com with technology integration, dealership training and operational support for the Used Car channel. CarsDirect.com plans on unveiling its new Used Car channel as well as a significantly expanded Research Center by April 2002.
"Consecutive record-breaking new car sales during the past few years have created the largest used car market in the history of the automotive industry," said Bob Brisco, CEO, CarsDirect.com. "To help consumers make the most of this unprecedented range of used vehicles choices, we're pleased to debut the same superior level of fast, one-stop shopping convenience as thousands of CarsDirect.com new car customers already experience each and every day."
"We're pleased to extend the Reynolds relationship with CarsDirect.com to another innovative product," said Greg Collins, Reynolds senior vice president. "CarsDirect.com is addressing the needs of an entirely new segment of the car buying public with its new service. We're proud of the strong integration, training and support that we will provide to make it possible."
According to Brisco, CarsDirect.com's Used Car buying service will also include a significantly expanded online Research Center with a number of research and comparison tools that will be added as part of a phased rollout in Q2. These new features will give used car shoppers power to quickly research, evaluate, locate, finance and buy a used car online -- a preference that shows no signs of slowing down, according to the 2001 J.D. Power and Associates Used Autoshopper.com Study(SM). According to the study, 43 percent of all used-vehicle buyers already use the Web as part of the purchase process -- a strong 27 percent increase over 2000.
Third Buying Channel Provides Another Win
for Consumers and Dealers Alike
Providing a seamless and enjoyable online buying experience to consumers has been the hallmark of CarsDirect.com since the company's debut in May 1999. With the addition of a Used Car channel, CarsDirect.com visitors have three distinctive car buying options to choose from: buying a new car online through the company's award-winning direct service; being matched with a top-quality new car dealer of their choice via the CarsDirect Connect service; or locating and purchasing a used car through the Used Car channel.
These three distinctive car buying channels are equally attractive to CarsDirect.com's 3,000 plus dealer partners. The company's dealer partners not only benefit from delivering thousands of incremental sales to CarsDirect.com customers, but they gain loyal, lifelong customers who profess an astonishing 98 percent customer satisfaction rate.
CarsDirect.com re-wrote the car buying rulebook for the first time when it launched its original, direct online car buying channel in May of 1999. With the November addition of CarsDirect.com's second new car buying channel -- called CarsDirect Connect -- retailers gained unprecedented opportunity to promote their premium services directly to the most qualified buyers found on any automotive web site. CarsDirect.com's Used Car buying service will provide dealers yet another alternative to reach out to additional qualified car buyers.
Dedicated Technology Partner a Critical Component
of Successful Launch
To provide technology support for its Used Car service, CarsDirect.com has again turned to industry leader Reynolds and Reynolds. As it continues to provide for the fast-growing CarsDirect Connect new car buying service, Reynolds and Reynolds will extend technology integration, dealer training and operational support through its highly regarded Automark Web Services group.
"Just as we collaborate with the country's best dealers, we choose business partners who have the same appreciation for quality and service we pride ourselves on," said Bob Brisco. "The complexity of our business' back end must always be transparent to our customers, and partners like Reynolds and Reynolds ensure that we meet this objective."
About CarsDirect.com
Los Angeles-based CarsDirect.com (www.carsdirect.com) is the leading multi-brand online car buying service, providing new automobiles and related products and services, such as loan and lease financing and in-demand aftermarket products including extended warranties. As the pioneer of the direct online car buying model, CarsDirect.com offers upfront pricing to consumers, who can research, price, order, purchase, insure and finance a vehicle online via an intuitive Web site that offers product information for nearly every make, model and style of new automobile available in the United States today.
In November 2001, CarsDirect.com introduced CarsDirect Connect(TM), a new online buying process that offers consumers who prefer face-to-face dealer interaction the option of being matched with a top quality local dealer of their choice.