Autobytel.com, General Motors Sign Agreement to Test New Online Retail Business Model with GM and Its Dealers
Irvine, CA - February 21, 2001
Updated
Jul 7, 2004 20:33:32
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Description: - Autobytel.com (Nasdaq: ABTL) today announced that it reached an agreement with General Motors Corp. (NYSE: GM) to conduct a 90-day test of a new GM online locate-to-order business model. This model involves special modification of the Autobytel.com website for consumers from a particular geographic area who seek specific GM vehicles. The test program will combine the independent all makes, all models capability of Autobytel.com with a dealer-set online e-price and locate-to-order vehicle inventory model for specific GM products. The evaluation is anticipated to begin May 1. It will involve a specific GM vehicle division and will be conducted with dealers in a yet-to-be named metropolitan area. "We believe that it is important to be involved in multiple channels on the Internet. Research also tells us that there is opportunity in the marketplace for manufacturer websites, dealer websites and a presence in independent, all makes and models spaces. The results of this test will help us and our dealers refine our e-retailing business learnings," said William J. Lovejoy, GM group vice president, North America Vehicle Sales, Service and Marketing. "As we continue to work with our dealers on an Internet strategy, it is critical that we launch new initiatives and learn how we can combine the strengths of our dealer network with a strategy to provide our customers with the best possible online experience." "We are very pleased to be working with GM and its dealers and look forward to providing them with the tools and support services they need to make this a complete success," said Mark Lorimer, President and CEO of Autobytel.com. "We believe that this is an innovation that can change all existing online automotive commerce business models-with online buying services, manufacturers and dealers working together-improving on the benefits of the referral model and providing the template for the future." The test on the Autobytel.com site will help GM and its dealers learn how to ultimately create an effective online locate-to-order system that displays a market area view of available inventory and enables consumers to purchase selected vehicles at a dealer-set online e-price. Car buyers will not only be able to find the exact GM vehicle they wish to purchase, but also select a preferred GM dealer to complete the sales transaction. "Working with Autobytel.com on this test helps us gain insight into the independent e-commerce space where customers have a 3-to-1 preference for all makes and model sites. We need to be everywhere our customers are," said Mark T. Hogan, GM group vice president and president, e-GM. In addition to hosting the test on its site and creating supporting technologies, Autobytel.com will provide GM dealers with dealer training, Internet-based customer relationship management applications and other technologies for the 90-day test. The test will not affect any of the options available to online buyers of non-GM products and all online car buyers will continue to experience Autobytel.com's unbiased information resources and objective, haggle-free buying process. About General Motors General Motors (NYSE: GM), the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide. In 2000, GM earned $5 billion on sales of $183.3 billion. It employs about 386,000 people globally. GM is investing aggressively in high technology and e-business within its global automotive operations and through such initiatives as e-GM, GM BuyPower, OnStar and its Hughes Electronics Corp. (NYSE: GMH) subsidiary. GM also operates one of the world's largest and most successful financial institutions, GMAC. More information on General Motors can be found at
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