Major Automotive Group Ranks No. 1 Nationwide Among Top 100 Dealers for Highest Percentage of Used Car Sales
8 May 2000
Major Automotive Group Ranks No. 1 Nationwide Among Top 100 Dealers for Highest Percentage of Used Car Sales
KEW GARDENS, N.Y.--May 8, 2000--Fidelity Holdings, Inc. (Nasdaq NM: FDHG) today announced that its subsidiary, Major Automotive Group, ranked number one nationwide in used car sales dollars as a percentage of overall sales, as rated by industry opinion leader Ward's Dealer Business. In addition, Major was ranked number four nationwide by revenue per employee. The rankings appeared in the Top 100 "Megadealers" April 2000 issue of Ward's Dealer Business."We have set a pattern of breaking our own records in used car sales through our Major World location in Long Island City," said Bruce Bendell, Chairman of Fidelity and President of Major Automotive. "Recognition of top ranking for highest percentage of used car sales by Ward's Dealer Business highlights our recent achievement of greater volume of sales nearly every month and quarter."
"An important catalyst to driving sales is our decade long pioneering efforts in the Internet auto sales arena. Our early relationships with autolife.com as well as our electronic auto sales partnership with Bloomberg paved the way to utilizing Fidelity's proprietary technology products, namely Talkie(R) software, Talkie(R) Browse N Talk(TM), and CarsTV.com cable television classifieds to further enhance auto sales," said James Wallick, Chief Operating Officer of Fidelity Holdings.
Fidelity Holdings 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 automotive dealerships in the New York Metropolitan Area. The Technology Division operates primarily through Computer Business Sciences, its IG2, Inc. subsidiary, its Info Systems, Inc. subsidiary and its CarsTV.com, Inc. subsidiary.
For additional information, visit our websites at www.fdhg.com, www.majorautomotive.com and www.majorworld.com.
The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's annual report on Form 10-KSB 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.