Autobytel.com Announces New Aftermarket Internet Sales Channel With Key Initial Partnerships
30 October 2000
Autobytel.com Announces New Aftermarket Internet Sales Channel With Key Initial Partnerships
Online Car Sales Leader is First to Visually Integrate the Selection Of
Aftermarket Auto Accessories in the Vehicle Purchase Request
IRVINE, Calif., Oct. 30 Autobytel.com , the
global leader in automotive e-commerce, today announced that it has partnered
with EyeVelocity, Source One Marketing, and leading automotive aftermarket
accessory manufacturers LoJack, Katzkin Leather Inc., Saddleman and Steel
Horse, to visually integrate the purchase of aftermarket products into the
Autobytel.com consumer car-buying process.
Powered by EyeVelocity's "Internet Accessorizor" technology, the
Autobytel.com Aftermarket Program will enable Internet car buyers to view,
customize and request vehicle-specific aftermarket products from a broad range
of product categories during the online vehicle purchase request process.
After confirming the details of the vehicle purchase request and aftermarket
product selection with the consumer, the dealer can either fulfill aftermarket
product sales using a manufacturer direct-to-dealer distribution network
(e.g., LoJack and Katzkin Leather) or through Source One Marketing, a national
online fulfillment system that will process ordering, shipping and billing for
the over 5,000 Autobytel.com Accredited Dealers. The Autobytel.com
Aftermarket Program allows for a more consolidated buying experience for
consumers, additional profit margin for Autobytel.com dealerships, and
tremendous potential for incremental product sales for the affiliated
Aftermarket partners.
"Once again, Autobytel.com is taking the lead in making the car-purchasing
process even more consumer friendly by allowing consumers to view their
vehicle of choice, complete with desired aftermarket accessories and pricing.
At the same time, we continue to create improved efficiencies and incremental
product sales for our dealers," said Mark Lorimer, Autobytel.com's President
and CEO. "EyeVelocity and Source One Marketing were chosen as partners in
this program for their expertise and tremendous knowledge and experience in
the aftermarket industry."
"EyeVelocity is proud to be a partner in this strategic initiative and we
believe Autobytel.com's Aftermarket Program is uniquely positioned to
redistribute a big slice of the $20-billion-plus aftermarket industry to its
network of dealers," said Scott Waldron, Executive Vice President,
EyeVelocity.
The Autobytel.com Aftermarket Program is the most comprehensive
aftermarket program available from an online car-buying site and is the
company's latest Internet-driven solution to deliver significant benefits to
consumers, dealers and manufacturers. According to a 2000 SEMA Market Study,
retail sales of performance parts and accessories reached $23.24 billion in
1999, an increase of 87.8% since 1990.
About autobytel.com inc.
Autobytel.com inc. , the global leader in online automotive
commerce, brings car buyers, owners, and sellers together in a trusted
environment, empowered by the Internet. Through its extensive automotive
content and multiple purchasing, financing, insurance and service options,
Autobytel.com offers consumers choice and peace of mind throughout the
automotive lifecycle, while providing its network of accredited dealers and
automotive services partners the most efficient way to reach online car buyers
and owners. Autobytel.com and its wholly-owned subsidiary, CarSmart.com, have
a network of over 5,000 Dealers nationwide and are the seventh largest
generator of automotive sales in the United States, just behind GM, Ford,
DaimlerChrysler, Toyota, Honda and Nissan. Autobytel.com has been ranked #1
in Dealer Satisfaction with Online Buying Services for three years in a row by
J.D. Power and Associates(1). 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), Japan
(http://www.autobytel-japan.com), and Australia (http://www.autobytel.com.au).
Headquartered in Irvine, California, Autobytel.com is recognized as the
company that transformed the $1 trillion new car industry when it invented
online car buying.
About EyeVelocity
EyeVelocity, the leader in visual configuration technology, offers
solutions that enable companies to tap new revenue, increase profits, and
enhance customer loyalty by delivering a unique buying experience in which the
consumer actually gets to "try on" products prior to purchase. EyeVelocity
has pioneered the use of visualization and transaction software in the
high-growth aftermarket products and automotive accessories markets. This
suite of "powered by EyeVelocity" products allow consumers to customize their
purchases with software platforms at retail points-of-purchase, or with
Web-based, interactive configuration tools. EyeVelocity is funded by venture
capital from GE Equity, Hambrecht & Quist's Access Technology Partners fund
(an affiliate of H&Q and Chase Capital Partners), and the Intel 64 Fund.
EyeVelocity has corporate offices in San Diego, CA, Portland, OR, and Boulder,
CO. More information is available via the Internet at http://www.eyevelocity.com.
Source One Marketing
Established in 1997, Source One Marketing (http://www.sourceonemarketing.com) was
the first e-commerce company to cater to the automotive accessories market,
and today offers more than 100,000 products for 4,500 vehicles. With its
proprietary accessories database, product knowledge and purchasing power,
Source One Marketing provides quick, reliable and accurate fulfillment.
Source One Marketing provides its expertise, commitment to quality service and
competitive pricing to jobbers, dealers, installers and specialty retailers in
the automotive aftermarket, including Autobytel.com.
(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.
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. Investors are strongly encouraged to review the Company's annual
report on Form 10-K for the year ended December 31, 1999, and quarterly
reports on Form 10-Q on file with the Securities and Exchange Commission for a
discussion of risks and uncertainties that could affect operating results and
the market price of the Company's stock.