Autobytel.com Continues International Expansion With Formation of Autobytel Spain
26 July 2000
Autobytel.com Continues International Expansion With Formation of Autobytel Spain
Global Automotive E-Commerce Giant Adds Autobytel Spain
To List That Includes Autobytel UK, Autobytel Japan,
Autobytel Australia, Autobytel Sweden, Among Others
IRVINE, Calif., July 26 Autobytel.com , the
global leader in automotive e-commerce, today announced the formation of
Autobytel Spain in a partnership between its subsidiary, Autobytel.Europe and
SWS Capital, a company dedicated to the development of Spanish telecom and
e-commerce companies. SWS' shareholders include Ruben Lerner who publishes
the #1 rated Spanish auto-focused magazine, Motor16.
Autobytel Spain is set to launch within the next six months and will also
be featured within SWS Motor, an automotive portal dedicated to creating a
positive car-buying experience for consumers.
"Autobytel.com's rapid global expansion is a testament to the power of the
Internet marketplace throughout the world," said Mark Lorimer, Autobytel.com's
President and CEO. "We look forward to working with SWS Capital to bring the
trademark Autobytel.com painless car-buying experience to consumers throughout
Spain."
1999 was a record year for car sales in Spain and, currently, 20% of
Spanish car buyers are using the Internet as part of their car shopping
process.
"Autobytel.com has used the Internet to truly simplify the car-buying and
selling processes," said Jose Pablo Contreras, General Manager of SWS Motor.
"We are proud to partner with the undisputed leader in automotive e-commerce."
SWS Capital is comprised of SWS Motor, SWS Telco and SWS Log (Logistics),
three vertical Internet portals that utilize a common technology platform and
management system. The company was established in November 1999 and has
alliances with leading companies in their markets.
About autobytel.com inc.
Internationally-branded Autobytel.com is the acknowledged leader in online
automotive commerce. 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 2000, Autobytel.com was ranked #1 in Dealer
Satisfaction with Online Buying Services for the third year in a row(1).
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, 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) J.D. Power and Associates 1998 - 2000 Dealer Satisfaction With
Online Buying Services Studies(SM). 2000 study conducted among
dealership Internet specialists who completed 2,144 evaluations of
individual services. http://www.jdpower.com.