Fidelity Holdings' Automotive Dealers to Sell Cars on the Internet
4 December 1998
Fidelity Holdings' Automotive Dealers to Sell Cars on the Internet
NEW YORK--Dec. 3, 1998--
Following a Successful Internet Advertising Campaign That Generated
Sales in Excess of $1 Million Monthly, Fidelity Takes the Next Step
Fidelity Holdings, Inc., today announced that its subsidiary, Major Automotive Group, a pioneer in Internet-based auto sales, starting December 15th will enhance its ability to sell cars on the Internet, through its expanded on-site Internet operations.
Over the past year, Major Automotive's Internet Marketing has generated sales of over a million dollars per month. With the launch of its current website at: http://www.majorautomotive.com, and its newly enhanced website at http://www.majorworld.com, new and used car buyers will be able to select a specific make, model, color and accessories, determine the car's exact retail delivery price, and purchase the car without ever stepping into a showroom.
Commenting on the new trend, Bruce Bendell, Fidelity's president, said, "The Internet allows consumers to make informed, intelligent buying decisions. We view this as an opportunity to provide our customers with information and a convenient method of shopping for new and used cars without having to leave their home or office, except for delivery of vehicle, although delivery is an option we have not ruled out. Selling online also reduces our overhead, a savings we will pass on to the buyer, making the transaction a win-win situation for all."
Major Automotive's website will offer Chevrolet, Chrysler, Plymouth, Dodge, Jeep, Subaru and 1,000 used cars through its dealerships, which are all located in the New York Metropolitan Area.
Fidelity Holdings, Inc. is a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The company operates two divisions
-- Automotive and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automobile dealerships in the New York Area. The Technology Division operates through Voice Processing and Computer Telephony Technology divisions.
For additional information, visit our websites at http://www.fdhg.com, http://www.majorautomotive.com and http://www.majorworld.com.
The information contained in this press release, including any forward looking statements contained herein, should be reviewed in conjunction with the company's Annual Report on Form 10-K and other publicly available information regarding the company, copies of which are available from the company upon request. Such publicly available information sets forth many risks and uncertainties related to the company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the company.