|
Autobytel.com Announces Over $3.4 Billion in Online Car Sales and Over 3 Million Users for Q1 2000
|
| Irvine, CA - March 28th, 2000 |
|
| Updated |
Jul 7, 2004 20:28:03 |
| Rating |
 126 ( 29 +23.01% ) |
|
|
Description:
-- Autobytel.com (Nasdaq: ABTL), the company that controls nearly 50% of online vehicle sales, today released metrics confirming its continued dominance of the online car sales market. The company's Q1 car sales, generated through its member dealers, have already topped $3.4 billion. The car sales were effected through Autobytel.com's three distinct sales processes catering to consumer needs Unique users of the company's two branded auto portals, Autobytel.com and CarSmart.com are expected to exceed a record-breaking 3 million for the quarter.
"We are particularly pleased with the results of AutobytelDIRECT and CarSmart.com's Personal Shopper," said Mark Lorimer, President and CEO of Autobytel.com. "Direct sales generated through Autobytel.com web properties have exceeded $8.5 million in the few weeks since we launched and have taken place in over 35 states, further evidence that our leadership in online car sales is extending into the "direct" end of the business. We are pleased that our 4800+ member dealer body has embraced AutobytelDIRECT and CarSmart.com Personal Shopper. We look forward to posting over a hundred thousand more vehicles with upfront pricing on AutobytelDIRECT by the summer."
Autobytel.com offers consumers three car-buying options. In addition to the hugely successful Autobytel.com Purchase Request process, consumers can bid on vehicles at the Autobytel.com Auction or buy direct online either through the "Click and Buy" on posted inventory at AutobytelDIRECT or by working through one of the CarSmart.com Personal Shoppers. Unlike some online car sales strategies that confuse consumers by sending them from brand to brand in search of the appropriate purchasing process, Autobytel.com has developed its purchasing processes in ways that ensure consumers a consistent quality experience no matter how they choose to buy.
"Consumer acceptance of the Autobytel.com approach whether in direct sales or our traditional process allows us not only to build on a market share that is more than three times that of our nearest competitor, but also to continue to innovate in the space," continued Lorimer. "That, coupled with a strong cash reserve of $85 million and a committed dealer network that has ranked us number one for two years in a row, gives us the freedom to continue to offer online consumers what they demand without diluting our powerful brand name or, more importantly, compromising its integrity." |
|
