carspecs.com to Revolutionize Online Vehicle Information Industry

3 April 2000
carspecs.com to Revolutionize Online Vehicle Information Industry

    TROY, Mich., April 3 In response to the growing demand for
fast and reliable vehicle information on the Internet, carspecs.com is set to
revolutionize the industry by launching the most comprehensive online data
resource available in North America.
    Utilizing an extensive global database of information, carspecs.com
enables automotive manufacturers, dealers, and others with an automotive focus
to affordably provide the same level of information to their consumers.  The
data, which can be incorporated into a current website, facilitates the
consumer research process by providing the most up-to-date pricing and
specification information and vehicle incentives available today.  The
carspecs.com toolkit is offered free of charge for those licensing the data,
and enables vehicle comparisons, option configuration, and the ability to
display the data in as many as 21 different languages.
    "We are extremely excited to be bringing this capability to North
America," said David Mingle, CEO of carspecs.com .  "Our service offers
comprehensive and accurate information, updated daily on every automobile sold
in the U.S., Canada, and 33 other countries worldwide.
    Timely, top-quality data is crucial in today's market, as research
indicates that as much as 50% of car sales are influenced by information first
obtained via the Internet."  carspecs.com has secured an exclusive agreement
with JATO Dynamics, the leading global automotive data research organization
of its kind.  JATO's information is utilized by virtually every automotive
manufacturer in the world for product planning and marketing applications.
carspecs.com will bring the power of JATO's global resources to the consumer's
internet space.
    After signing up for the service, carspecs.com clients have access to
technical support and a developmental "toolkit", which enables them to
personalize the information on the website based on consumer requirements.
For more extensive needs, clients are referred to a technology partner of
carspecs.com , who will create a customized application.  Larry Bloom,
president of Network Synergy of Berkley, MI, is one such technology partner.
"We have the capability to manipulate the data provided by carspecs.com so
that it best fits the needs of our client.  That may vary from one industry to
another, or even from one dealer to another.  The system is completely
flexible and easy to use.  Dealers can have a site driven by carspecs.com up
and running in a matter of days."
    Financial institutions can also benefit from this service.  By making
automotive information available to prospective vehicle buyers, financial
institutions can offer greater service to consumers by linking that
information to advice, interactive calculators and online loan and insurance
applications that help consumers make the right financial decisions with
confidence.  Heather Sparrow, general manager, internet services of CIBC, a
Canadian leader in providing a choice of convenient electronic banking
channels has already seen the advantages of this service.
        "We see the internet as an effective tool for reaching a larger
audience, while fulfilling our current customers needs.  carspecs.com provides
us with the necessary support with which we can develop our Auto Web site
services so they better meet the needs of consumers who are making the major
financial decisions involved with purchasing a vehicle."
    "There are a number of car information companies which already exist in
the U.S., but the quality and depth of our information, and the extra features
that are available makes carspecs.com unique in the industry," says Mingle.
Especially important is how automotive and financial industries can customize
the information provided by carspecs.com to match their own website design and
objectives, while helping consumers research and compare vehicles before
making a purchase decision.  In conclusion, says Mingle, "the goal is to
establish carspecs.com as the brand of choice among those sites serving the
automotive consumer by providing a service that is comprehensive, timely, easy
to use, and affordable."
    To see a demonstration of the service, please visit http://www.carspecs.com