Microvision Launches Nomad Expert Technician System Reference Account Program with Nation's Fourth Largest Chevy Dealer
BOTHELL, Wash.--Aug. 1, 20040, 2004--| Wireless Computer With Head-Worn See-Through Display is Increasing Repair Revenue and Technician Retention at Classic Chevrolet in Grapevine, TX |
Microvision Inc. announced today that its Nomad Expert Technician System is in use at Classic Chevrolet, Grapevine, TX, the 18th largest auto dealer in the country. The Nomad System is the world's first wearable, wireless computer with a head-worn, head-up display, providing automotive technicians and service advisors with hands-free access to online vehicle history and repair information while they work on vehicles or consult with customers. Service personnel can provide faster, more accurate service and repairs with critical information superimposed in their vision as they work. With 70 service bays, Classic is the fourth largest Chevrolet dealership in the United States and one of seven large dealerships owned by the Durant family in the Dallas, TX area.
According to Tom Sanko, Microvision VP of Marketing, the auto dealers participating as Nomad Reference Accounts have agreed to share their experience with the Nomad Expert Technician System with other dealers and the media. "We are also getting 'before and after Nomad' productivity and quality metrics to demonstrate the effectiveness of the Nomad installation," Sanko said. "Classic Chevrolet is the first reference account for the Nomad System. Classic is strategically important to us because of their size, their reputation for innovation and service quality, and because of their visibility and influence with other dealers in an important market. The Dallas metroplex has the ninth largest population of any metropolitan area in the country and is a major automotive market. Microvision is in the process of standing up seven additional reference accounts in other major automotive markets throughout the U.S. over the next two months."
Mike Zorn, Service Director for Classic Chevrolet stated, "We started about a month ago with five technicians, to see how the Nomad Expert Technician System would work in our shop. We were able to connect very quickly to General Motors' TIS 2000 web-based service information system. All five techs picked up on very quickly on the Nomad system, and have been using it since that time on a regular basis. Now the other technicians want one. We have been able to improve our production time and we believe the Nomad system will actually help us retain quality technicians. So far Nomad has proven very useful and we're still discovering new ways to use it. Anything we can do to help our technicians increase their earning potential and provide better service - like adopting the Nomad System - will help us keep a leg up on the competition."
The Nomad Expert Technician System enables automobile dealerships to increase service revenue and profitability as well as improve service quality and customer satisfaction - equally important, as more than 50% of a typical dealer's gross profits come from service operations while high customer repair satisfaction is directly correlated with customer retention.
"In the typical automobile dealership, service techs and service managers spend a lot of time commuting from their service bays to computer terminals for repair information and printouts," stated Chris Johnston, Microvision Marketing Manager. "The Nomad Expert Technician System eliminates this wasted time by instantly providing the information the techs need where they need it while they work," said Johnston. "Our customers are also finding additional uses for this versatile information tool, such as interfacing with diagnostic testers, ordering parts and checking order status, picking repair parts in the warehouse, and enabling service advisors to talk with customers at their vehicles."
According to the Automotive Aftermarket Industry Association the service portion of the automotive aftermarket is estimated at $132 billion in 2003, with roughly $59 billion of that coming from labor. Sales of tools used in aftermarket service and maintenance were estimated at $7.9 billion for the year.
There were 25,200 separate new car dealer franchises listed in the 1997 U.S. Economic Census. Worldwide there are an estimated 73,000 new car dealerships, 3,200 heavy truck dealers, 448,000 Repair Shops, and 48,000 tire dealers. In total these enterprises employ more than 1.37 million technicians, with 875,000 technicians employed in the U.S. by new car dealers and aftermarket repair shops.
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision Inc. is the world leader in the development of high-resolution displays and imaging systems based on the company's proprietary silicon micro-mirror technology. The company's technology has applications in a broad range of military, medical, industrial, professional and consumer products.
Forward-Looking Statements
Certain statements contained in this release, including product applications, establishing reference accounts and potential market opportunities are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company's forward-looking statements include the following: our ability to raise additional capital when needed; market acceptance of our technologies and products; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims and other risk factors identified from time to time in the company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC.