Wheels Online in Dallas-Ft. Worth
6 May 1998
Bank One, Navidec and KTVT-TV in Dallas To Launch `Wheels' Online Automotive Solution in Dallas-Ft. Worth
`Wheels' Service Addresses Fast-Growing Demand for Internet Auto Purchasing
DENVER, May 6 -- Dallas-Ft. Worth consumers looking for a
convenient way to browse the area's numerous auto lots won't have far to go --
thousands of vehicles will soon be right on their computer screens. Bank One
Credit Company, a unit of Finance One Corporation, the finance company
subsidiary of BANC ONE CORPORATION, Navidec Inc. (Nasdaq: NVDC, NVDCW), a
leading provider of Web-based products and solutions, and KTVT Channel 11 are
bringing the popular "Wheels" online automotive shopping service to Dallas-Ft.
Worth in July 1998.
With more than half of Americans reporting that they'll use the Internet
to make their next new car purchase,* Metroplex Wheels will quickly meet the
high demand for online auto shopping and buying in one of the nation's most
wired areas -- Dallas-Ft. Worth.
Bank One and Navidec recently announced a partnership to launch Wheels in
five or more major U.S. markets. The launch of Metroplex Wheels in Dallas-Ft.
Worth is the fourth of Navidec and Bank One's Wheels markets, which also
include Denver, Portland and Salt Lake City.
KTVT's "Metroplex Wheels" solution will allow Web users to obtain
information on thousands of new and pre-owned vehicles from numerous auto
dealers in the Dallas-Ft. Worth area. Site visitors will be able to search a
dealer's entire inventory by any combination of vehicle type, year, mileage
and total price range. Dealers can include digital photos of the vehicles in
their inventory, so consumers can view the vehicles they have identified.
Kymberly Redmond, general sales manager of KTVT said, "KTVT is very
excited about our partnership with Navidec, Inc. and Bank One. We are
constantly looking for opportunities that will benefit our viewers,
advertisers and KTVT.com." She added, "The services that Metroplex Wheels
will be providing are a perfect fit for our marketplace and KTVT's Internet
strategy."
KTVT-TV will begin a substantial broadcast advertising campaign in July to
promote the new solution to the region's automotive dealers and to attract
consumers to the site.
"Metroplex Wheels will help Dallas-Ft. Worth's automotive dealers sell
more vehicles and will provide an efficient distribution system for all of
Bank One's dealer products including retail, leasing and subprime financing,"
said Macy Meyer, national product manager, Banc One Credit Company. He added,
"It also will provide consumers in the area with a convenient method to
purchase and finance a vehicle."
Banc One Credit Company is the fifth-largest indirect lender and in the
top two largest bank-owned providers of automotive financing in the country,
and has been in the business of financing new and used cars for more than 40
years.
*Dohring Company, 1997
Navidec and The Denver Post launched the first regional Wheels solution in
Colorado late last year and have since signed 32 separate dealer franchises in
the Denver area, far exceeding initial expectations. The number of leads
generated for participating dealers also is beyond initial estimates,
signaling that consumer acceptance of the product is extremely high. Colorado
Wheels is available at http://www.coloradowheels.com. Navidec, Bank One and KOIN-TV
in Portland will launch Northwest Wheels (http://www.northwestwheels.com) in late
April 1998.
"We are very pleased with the progress of our multimarket launch of Wheels
which will provide us with a significant recurring revenue stream," said Ralph
Armijo, CEO and president of Navidec. "We are currently negotiating contracts
in several of the top 10 markets, while continuing our successful strategy of
securing media partners in the top markets across the country." Armijo added
that by licensing the Wheels service to strong regional media partners, such
as KTVT, Navidec ensures aggressive advertising and promotion campaigns to
draw visitors to the Web site.
KTVT-TV (Channel 11), a CBS affiliate, is owned and operated by Gaylord
Entertainment and serves the Dallas/Fort Worth area.
With 31 offices across the country, Banc One Credit Company offers
automobile dealers local service with the lending power of a national
organization. Finance One Corporation is a subsidiary of BANC ONE CORPORATION
headquartered in Columbus, Ohio, and manages assets of approximately
$28 billion. It is the one of the largest finance companies in the United
States and is a holding company for eight business units engaged in consumer,
indirect, commercial and mortgage lending markets. BANC ONE CORPORATION had
total assets of $115.9 billion and common equity of $10.2 billion at December
31, 1997.
Navidec Inc., based in Englewood, Colo., is a leading national provider of
products and solutions that use Web-based technologies to achieve its
customers' business objectives. From commercial Web site development to the
design and implementation of intranet and extranet applications and tools,
Navidec helps customers develop successful online solutions. Navidec's
premier vertical market focus is on the automotive industry with its Wheels
online automotive sales solution. Navidec partners with media organizations
to produce Wheels in markets nationwide. The Company's Web site address is
http://www.navidec.com.
All statements in this press release, other than historical facts, are
forward looking statements. These statements are based on certain assumptions
and analyses made by Navidec in light of its experience and its perception of
historical trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstance. Such statements are
subject to a number of risks and uncertainties, including general and economic
business conditions, demand for automobiles, competition from other automotive
online services, market acceptance of the Wheels solutions, the ability of
Navidec to reach agreements with local media partners and other risk factors
indicated from time to time in Navidec's filings with the Securities and
Exchange Commission. Those filings are available online at http://www.sec.gov.
SOURCE Navidec Inc.