Autofusion Corporation Leverages Success of Its CarPrices.com Site With Aggressive Business-to-Business Deals
3 October 2000
Autofusion Corporation Leverages Success of Its CarPrices.com Site With Aggressive Business-to-Business Deals
SAN DIEGO--Oct. 3, 2000--Autofusion Corporation, the leader in automotive e-commerce technology, is actively licensing its suite of products and services for Internet auto sales, the company announced today.
By licensing its e-commerce products, Autofusion will create new revenue streams for both auto-related and general consumer Web sites whose users are interested in researching or buying cars.
Autofusion's Select-A-Car(TM) and Multi-Bid(TM) are at the core of the company's product suite. Both products streamline the process of buying and selling cars over the Web and enable any Web site to quickly tap into the sales potential for automobiles on the Internet. Both products will be showcased on CarPrices.com, the company's consumer Web site.
"As an independent company, without financial ties to any manufacturer, we're a source of sophisticated consumer- and dealer-friendly products that add immediate value to any business involved in Internet auto sales," said Autofusion CEO Louis Urbano. "Auto-buying information is the third most searched-for category online, behind only books and travel, and represents significant potential profits for our clients."
Select-A-Car, jointly developed by Autofusion and partner Selectica(TM), Inc. , is an online car configurator that enables auto dealers, manufacturers, car-buying services, Internet portals, and other sites to provide their consumers with customized, comprehensive car configuration and informed purchasing capabilities.
Multi-Bid, promoted as PriceWar on CarPrices.com, is a reverse-auction system in which multiple dealers compete for a new-car buyer's business by bidding exact prices on a desired vehicle. The service started in San Diego in November 1999 and expanded to southern California in April 2000. The company expects the Multi-Bid service to be licensed and available in the nation's top 40 markets by year-end.
Group 1 Automotive Inc. , which operates 98 dealerships nationwide, recently licensed Select-A-Car(TM)from Autofusion. Group 1 chose the Select-A-Car(TM)configurator to assist online customers in the decision-making and car purchasing process on its dealer sites.
Select-A-Car's state of the art technology combined with Group 1's strong regional platform dealership network enables Group 1 to capitalize on its long-established name recognition and customer loyalty.
About Autofusion Corporation
Autofusion Corporation, headquartered in San Diego, is the leader in Internet car-buying technology. Autofusion offers sophisticated auto configuration and reverse-auction products that increase profitability and streamline automotive e-commerce for companies involved in Internet auto sales. The company's technology products are showcased on CarPrices.com, its consumer Web site. CarPrices.com attracts more than 1.5 million visitors a month and is responsible for more than $2 million in new-car sales each day.