Carfax Brings Vehicle History Reports to All AutoNation Locations; Company Named As AutoNation's Best Innovative Partner for 2006
FAIRFAX, Va.--May 17, 2006--Carfax, the leading provider of vehicle history information, has entered into an expanded partnership with America's largest automotive retailer - AutoNation, Inc. . The two companies will be working together to better evaluate trade-ins and enhance the value of units resold at AutoNation locations across the country."We're very excited about this partnership. We're already working together to maximize the benefits to AutoNation's customers and dealerships," said Dick Raines, president of Carfax. "Using vehicle history information to better evaluate trades and resell used vehicles has a positive effect on the used car operations of dealers and helps build consumer confidence."
Used car shoppers will be given a Carfax Vehicle History Report for any car they're considering at AutoNation stores. Free Carfax Vehicle History Reports will be made available with all AutoNation online listings and eligible vehicles will come with the industry-leading Carfax Buyback Guarantee.
"We fully anticipate the impact of our new partnership on the resale value of vehicles sold at all AutoNation stores will be very positive," explains Mike Maroone, president and COO of AutoNation, Inc. "Customers today are better informed and they want the type of information you can only get from a Carfax Vehicle History Report."
Carfax was recently named the 2006 winner of AutoNation's prestigious Technology Award - Best Innovator. Carfax earned the honor by continually developing leading edge technology that enhances AutoNation's customer focused processes.
About Carfax
Founded in 1986, Carfax pioneered the concept of the vehicle history report. Carfax Vehicle History Reports, the most comprehensive collection of used vehicle information ever assembled, can confirm a clean title history or help purchasers identify previous salvage history, odometer fraud, flood damage and more. Carfax, Inc., based in Fairfax, Virginia, is a wholly owned subsidiary of the R.L. Polk & Co.
About AutoNation
AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer and a component of the Standard and Poor's 500 Index. AutoNation has approximately 27,000 full-time employees and owns and operates 346 new vehicle franchises in 17 states.
This press release includes statements that constitute "forward-looking statements," including with regard to the senior notes offering and the tender offers, such as the completion and timing of such events. These statements are made pursuant to the safe harbor provisions of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward-looking statements, including its long-term growth targets.