Autoweb.com Presents at Robertson Stephens 'Tech 2000' Conference
3 March 2000
Autoweb.com Presents at Robertson Stephens 'Tech 2000' Technology Conference
Company Plans For Additional Car-Buying Models That It Believes Will Have
Strong Consumer Appeal
SANTA CLARA, Calif., March 3 -- Autoweb.com ,
the leading consumer automotive Internet service, plans to introduce new
car-buying models for consumers in the coming months. Sam Hedgpeth,
Autoweb.com's president and chief operating officer, presented on March 2 at
the Robertson Stephens Tech 2000 Conference, where he also outlined the
fundamental ingredients of Autoweb.com's current strategy.
Mr. Hedgpeth discussed Autoweb's consumer focus, increasing traffic
volume, online information and tools, and collaboration with a growing list of
industry-leading portals, manufacturers, dealers and partners. Hedgpeth
emphasized the strategic importance of Autoweb's content and tools, which the
company believes it is leveraging to provide significant value to these key
partners. He also provided a brief update on Autoweb's recent traffic
performance.
"We believe the success of Autoweb's dealer referral channel can be
measured by the record volume of traffic and transactions on our site," said
Mr. Hedgpeth. In January, Autoweb secured the top spot as the most visited
online car-buying service for the third month in a row, according to
Nielsen//NetRatings.
Autoweb recently conducted an online consumer study of car-buying models
among 520 consumers who plan to use the Internet in some way for their next
car purchase. This research continues to confirm that the dealer referral
model has the broadest appeal of existing buying models.
Mr. Hedgpeth said that while its dealer referral channel is meeting the
needs of today's mass market car buyers, the company also plans to leverage
its strategic advantages to meet consumers' evolving online preferences and to
capitalize on emerging market opportunities. Through its extensive dealer and
consumer research, Autoweb has identified additional buying models that it
expects will have strong consumer appeal.
"In the next three to six months, we are planning to introduce at least
one, and possibly two, new car-buying models that we believe will capture the
imagination of mass market consumers," said Mr. Hedgpeth. "This will allow us
to reach an even broader audience by providing consumers with enhanced choice
and control, while meeting the growing online needs of manufacturers and
automotive retailers. Our Member Dealers will play an important role in the
success of our existing and planned models."
About Autoweb.com
Autoweb.com is the leading consumer automotive Internet service, guiding
consumers through every stage of vehicle ownership. From research and buying,
to enjoying, maintaining and selling, Autoweb.com delivers what consumers
want. Starting with comprehensive, unbiased automotive research, Autoweb.com
also provides many options to buy new and used vehicles through its auction
and dealer referral commerce channels. Autoweb.com works with more than
5,000 Member Dealers and other commerce partners to provide the best
experience at every stage of vehicle ownership. For more information, please
visit http://www.autoweb.com.
Statements in this news release, including statements that include words
such as "expects," "believes" or other future-oriented statements, contain
forward-looking statements that involve risks and uncertainties that could
cause actual results to differ from anticipated results. These risks and
uncertainties include unanticipated changes in competitive behavior, changes
in consumer preferences over time, an inability to forecast future traffic and
transactions, and unforeseen problems with executing contemplated business
models. Further information on risk factors that could affect the company's
results is detailed in the Company's filings with the Securities and Exchange
Commission, including its Registration Statement on Form S-1 (No. 333-71177)
and its Form 10-Q for the quarter ended September 30, 1999.