Autobytel.com Tops $1.2 Billion in Car Sales Per Month
21 September 1999
Autobytel.com Tops $1.2 Billion in Car Sales Per MonthAutobytel.com Lays Down Benchmarks for Automotive E-commerce Sector IRVINE, Calif., Sept. 21 -- Autobytel.com , the leading international automotive e-commerce solutions provider, today announced several key metrics from its North American operations, including that it now sells in excess of $1.2 billion in car sales through its Accredited Dealer Network per month. "The current fascination with e-commerce press releases has left some confusion in the online automotive marketplace," said Mark Lorimer, President and CEO, Autobytel.com. "It's time to set the benchmark for the automotive e-commerce segment. Autobytel.com also announced that its U.S. operations alone generate more than $1.6 million an hour (24 hours a day/seven days a week) in car sales through its Accredited Dealer Network." As reported in Automotive News (4/14/99), Autobytel.com sells more cars than its two closest competitors combined. In addition, Autobytel.com is the eighth most recognized e-commerce brand and the first most recognized brand in the online car-buying space, according to Opinion Research Corporation (6/99 and 9/99). "When a company has more unaided brand recognition among consumers than all of its competitors combined, that's category leadership," says Lorimer, referencing Autobytel.com's brand strength among consumers. Autobytel.com is also visited most frequently for the purpose of locating used vehicles for sale, as reported by J.D. Power and Associates in a press release (8/2/99) on its Used Autoshopper.com Study(SM). Moreover, Autobytel.com ranks third among consumers looking for information about used cars, behind only two nationally recognized automotive information-only sites and ahead of all automotive e-commerce sites. "Brand dominance and transaction dominance, as evidenced by third-party independent research, is my definition of leadership," continues Lorimer. "Our dealers deliver cars to consumers' offices and doorsteps throughout the nation everyday in numbers that dwarf any so-called 'direct' model. Autobytel.com customers place orders for cars to be built at carmaker factories every day at our website." In addition to its dominance of consumer mind share, as evidenced by its unaided brand recognition, J.D. Power and Associates has reported that: "Among online buying services, Autobytel.com is the largest, accounting for 45 percent of all new vehicles sold through an online service." (New Autoshopper.com Study(SM) press release, 8/23/99) "There is no reason for confusion in the automotive e-commerce space," concludes Lorimer. "Independent metrics show that consumers have already determined that Autobytel.com is number one and continuing its lead everyday." About Autobytel.com Internationally-branded Autobytel.com (http://www.autobytel.com) is the acknowledged leader in online automotive commerce(1). The most comprehensive automotive Internet site, Autobytel.com offers consumers a positive purchasing and ownership experience, while providing its Accredited Dealer Network with the most efficient way to reach online car buyers. As it assists consumers through every aspect of the automotive life cycle, Autobytel.com provides continuity into the next vehicle purchase. Launched in March 1995, Autobytel.com's low-cost, no-haggle car-buying program is available in the U.S., Canada (http://www.autobytel.ca), the United Kingdom (http://www.autobytel.co.uk) and Sweden (http://www.autobytel.se). In 1999, Autobytel.com was ranked #1 in Dealer Satisfaction with Online Buying Services for the second year in a row(2). The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed in, or implied by such forward-looking statements, Autobytel.com undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause Autobytel.com's actual results to differ materially from those expressed in, or implied by, the forward-looking statements are changes in general economic conditions and increased or unexpected competition and other matters disclosed in Autobytel.com's filings with the Securities and Exchange Commission. (1) As reported by J.D. Power and Associates, Autobytel.com generates nearly as many new-vehicle sales as its two closest competitors combined. (2) J.D. Power and Associates 1998-1999 Dealer Satisfaction With Online Buying Services Studies(SM). 1999 study conducted among dealership Internet specialists who completed 1,024 individual evaluations.