Autobytel.com Leads Online Automotive Commerce in Japan
16 December 1999
Autobytel.com Leads Online Automotive Commerce in Japan Autobytel Japan Reports Over 38,000 Purchase Requests in First Month
IRVINE, Calif., Dec. 16 -- Autobytel.com , the
leading international automotive e-commerce provider, today announced that
Autobytel Japan (http://www.autobytel-japan.com) is reporting over 38,000 purchase
requests during its first month of operation. Autobytel Japan, which launched
November 1, 1999, is by far the leader in online automotive commerce in Japan.
"Our mission is to serve customers, dealers and manufacturers," said
Keishin Sasaki, CEO of autobytel Japan K.K. "In just one month, our site has
received over 15 million page views. The phenomenal success of Autobytel
Japan is a direct result of our strong dealer network, our website's
high-quality content, and, of course, strong marketing initiatives."
Currently, Autobytel Japan offers new-car purchasing, financing, insurance
information and an online catalog of after-market parts. A recent investment
of Y320 million from GE Capital in Autobytel Japan will enable the Company to
expand its online offerings, including auto leasing.
Autobytel Japan's successful launch follows a series of well-received
international launches, including websites in the U.K. (http://www.autobytel.co.uk)
and Sweden (http://www.autobytel.se), as well as planned launches in Denmark, Norway,
and Finland, and initiatives in Australia and Holland.
"Like U.K. and Swedish consumers before them, Japanese consumers are
embracing Autobytel.com's car-buying model," said Mark Lorimer, President and
CEO. "The success of our international ventures clearly illustrates that
consumers worldwide demand the sort of quality in online car-buying that
Autobytel.com delivers. We intend to continue to expand globally to meet that
demand."
Autobytel Japan is a joint venture between Autobytel.com and six
industry-leading Japanese partners, including Intec, Inc., ITOCHU Corporation,
Trans Cosmos, Inc., Recruit Co., Ltd., Orient Corporation, and e-solutions,
inc., as well as an affiliate of GE Capital.
About autobytel.com inc.
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 lifecycle, 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),
Sweden (http://www.autobytel.se) and Japan (http://www.autobytel-japan.com). 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, increased or unexpected
competition, the failure to close the acquisition of A.I.N. Corporation,
changes in A.I.N. Corporation's financial performance, 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 accounts for
45% of all new vehicles sold through an online service. (8.23.99).
(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.