Tag Archive | "DealerTrack"

DealerTrack Connects 900th Financing Source to Network

LAKE SUCCESS, N.Y. – DealerTrack, Inc. today announced that the number of active financing sources connected to the DealerTrack(R) network has reached 900.

“We’re pleased to have connected our 900th lender – substantially more than other auto finance networks,” said Mark O’Neil, chairman and CEO of DealerTrack. “Growth of the number of lenders on the DealerTrack network has clearly accelerated over the last year, reflecting the renewed interest of lenders in the auto financing market, as well as our continued success in bringing regional banks and credit unions on board. By providing dealers with free online access to such a broad lender universe, we are helping them sell more cars by expanding their financing relationships.”

Through DealerTrack, dealers can electronically submit credit applications to the industry’s largest and most diverse network of banks, independent finance companies, captive finance companies, credit unions and regional banks.

The integrated DealerTrack Performance Suite is the industry’s most complete offering of high-value automotive management software, including Dealer Management Systems (DMS), Inventory Management, Sales, F&I and Compliance solutions.

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Chrome Launches Accessories Essentials, an Online Accessories Selling Solution

PORTLAND, Ore. – Chrome(R) Systems Inc., a subsidiary of DealerTrack Holdings, Inc., has introduced Accessories Essentials, an easy-to-use and cost-effective online accessories selling solution that can be integrated with any dealer’s website to create a virtual accessories department and increase the profit potential of every deal.

Thousands of U.S. auto dealers already use the Chrome Accessories Solution. Accessories Essentials is a simple, intuitive, user-friendly solution that is offered at a low price point and requires very little training, enabling dealer personnel to ramp up quickly and start selling. A comprehensive back-end customization portal allows dealerships to set pricing markups, installation and shipping options, and labor hours and rates. Dealers can also customize the solution’s color scheme to match their own branding.

The new solution can be used by dealers and other accessories retailers, and supports all major accessories catalogs. It includes thumbnail and larger product images of accessories, as well as “Cool Ideas” video presentations that visually present accessorized vehicles. Chrome hosts, updates, and manages all of the data, creating a robust search capability that allows consumers to search by VIN – with all accessories that match a vehicle displayed in a single list – or by product category or part number. Customers can also compile and save “wish lists” and come back to make a purchase when they are ready.

“Accessories are a key profit center for any dealership, potentially adding hundreds of dollars to every vehicle sale,” said Amit Maheshwari, general manager of DealerTrack Data Services. “Chrome’s new Accessories Essentials is the easy and fast way to present consumers with a comprehensive online accessories showroom complete with eCommerce capabilities including PayPal, so they can immediately order online, or compile ‘wish lists’ that can be converted into orders. In today’s competitive environment, Chrome’s new solution is the streamlined and cost-effective way to meet consumer demand for vehicle personalization and drive increased revenue per deal.”

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DealerTrack to Serve as Reseller of Experian’s AutoCount Reports

LAKE SUCCESS, N.Y. – DealerTrack, Inc. has entered into an agreement with Experian Automotive to serve as a value-added reseller for Experian’s AutoCount market share reports.

AutoCount reports help dealers better understand their markets by identifying top-performing vehicle makes and models (both new and used), emerging sales trends and the lenders that are active in their area. The reports provide detailed information on actual monthly vehicle sales based on unbiased title data from Department of Motor Vehicles registrations. They are an objective source used by auto dealers when evaluating vehicle sales activity and include vital information about dealers, manufacturers, vehicle segments, makes, models and lenders. AutoCount reports can be customized down to the ZIP Code level to give dealers information specific to their market area.

The AutoCount reports are accessed through DealerTrack AAX and complement DealerTrack AAX’s new MarketDriver functionality. MarketDriver provides dealers with enhanced insight into their business and information on how they are performing against their local market.

“We are excited to extend our partnership with Experian Automotive and begin selling AutoCount reports to our customers,” said Bridget Townsend, general manager of DealerTrack AAX. “The reports provide the data that dealers need to better assess how a vehicle actually performs in their market. When coupled with the additional data from DealerTrack AAX’s MarketDriver, which includes not only Internet listings but actual transaction data such as average vehicle profit, it’s a powerful combination that provides true insight into vehicles that dealers are considering stocking. With such a complete picture of the market, dealers can make better, more informed inventory decisions that should not only improve turns, but profitability as well.”

“With DealerTrack AAX’s leading position among inventory management solutions, we are confident this new agreement will bring AutoCount’s market reporting intelligence to more dealers than ever before,” said Scott Waldron, president of Experian Automotive. “Dealers can now leverage the combined power of DealerTrack AAX and AutoCount data to help them make more profitable used vehicle pricing, sourcing and merchandising decisions.”

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DealerTrack Announces First Android Application for Used-vehicle Market

LAKE SUCCESS, N.Y. – DealerTrack, Inc.’s Mobile AAX solution is now available for use on smartphones using the Android 2.0 operating system. Dealers now have additional choices as they increasingly harness the power of mobile technologies to achieve much faster and more accurate vehicle appraisals.

The DealerTrack Mobile AAX solution is powered and delivered by Laser Appraiser, LLC, a leading wireless automotive valuation system. In early 2010, DealerTrack began offering the Mobile AAX iPhone application and the Opticon Windows Handheld as a standalone subscription or as an integrated solution with DealerTrack AAX.

With the addition of the Android application, dealers nationwide can now extend the core functionality of the DealerTrack AAX used-vehicle inventory management solution to a dedicated handheld device, the iPhone, or Android-powered devices such as the DROID by Motorola and the DROID Incredible by HTC through multiple wireless carriers.

“As dealers increasingly strive to increase their efficiency, DealerTrack continues to innovate and deliver cutting-edge technologies,” said Bridget Townsend, general manager of DealerTrack AAX. “Dealers can now run DealerTrack Mobile AAX on Android smartphones – one of the best-selling smartphone operating systems in the U.S. – and start realizing a range of benefits including easier and faster access to used-car valuations, wholesale auction Manheim Market Reports (MMR) as well as access to vehicle history and appraisal information right on the dealership lot or in the lanes at wholesale auctions.”

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DealerTrack Announces Enhancements to Its Compliance Solution

LAKE SUCCESS, NY – DealerTrack, Inc., a provider of on-demand software and data solutions for the U.S. automotive retail industry, announced a number of enhancements to its compliance solution. Using the solution, dealers can more easily comply with legal and regulatory requirements and monitor their businesses’ activities.

The enhancements include a new Compliance Dashboard, which provides an overview of compliance-related activity across a store’s current deals on a single screen, as well as new functionality and design features that streamline navigation and increase the system’s effectiveness in encouraging full compliance on every deal. All of the new functionality is now available automatically to all DealerTrack Compliance subscribers at no additional cost.

The Compliance Dashboard provides a compact, single-screen view to help dealers identify users, documents and deals that are out of compliance. Highlights of the Dashboard include:

  • Compliance Score – Provides an easy-to-understand benchmark of deals in a selected time period to give dealers a sense of their overall compliance level.
  • Compliance Score Trends – Compares the trend in a dealer’s compliance scores against average compliance scores for dealers nationwide that use the DealerTrack Compliance solution.
  • Additional Enhancements – The DealerTrack Compliance solution upgrade also includes a number of new features that enhance navigation and functionality; messages that highlight problems with incomplete deals more effectively; greater integration with the F&I process to notify users when there is a problem near the finalization of a deal; and enhanced reporting with drill-down capabilities to give quicker insight into problem areas.

“With these new upgrades, we truly believe that the industry’s best compliance solution has just gotten even better,” said Raj Sundaram, senior vice president, solutions and services group at DealerTrack. “We listened to feedback from our customers and have implemented a number of improvements that not only make our solution easier to use, but help dealers to more effectively monitor and increase compliance levels in their stores. Our new Compliance Dashboard provides a unique bird’s-eye view and streamlines the process through improved navigation and one-click access to all compliance activity.”

The DealerTrack Compliance solution is a critical component of the DealerTrack Performance Suite. It is the industry’s most comprehensive compliance offering, encompassing credit transactions and identity verification, menu selling, tracking and reporting, and electronic document management. It helps protect a dealer’s business by providing a framework that strongly encourages and simplifies adherence to all applicable laws and regulations at both the federal and state levels.

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DealerTrack Connects 850th Financing Source to Its Industry-Leading Network

LAKE SUCCESS, N.Y – DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that the number of active financing sources connected to the DealerTrack(R) network has reached 850.

“Our achievement of this milestone underscores DealerTrack’s commitment to helping dealers succeed in the face of a continued challenging credit environment,” said Mark O’Neil, chairman and chief executive officer of DealerTrack. “As credit unions have increased their share of the auto finance market to 30% or more, it’s important to note that these types of lenders now account for the lion’s share of new additions to the DealerTrack network. At the same time, our recent additions also include one of the largest captive finance companies, GMAC Financial Services. We believe that providing dealers with free online access to significantly more lenders than anyone else in the marketplace gives dealers a competitive advantage by enabling them to broaden their financing relationships and close more vehicle sales.”

Through DealerTrack, dealers can electronically submit credit applications to the industry’s largest and most diverse network of banks, independent finance companies, captive finance companies, credit unions and regional banks. The integrated DealerTrack Performance Suite is the industry’s most complete offering of high-value automotive management software, including Dealer Management Systems (DMS), Inventory Management, Sales, F&I and Compliance solutions.

DealerTrack’s intuitive and high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. Our solution set for dealers is the industry’s most comprehensive. DealerTrack operates the industry’s largest online credit application network, connecting approximately 17,000 dealers with over 850 lenders. Our Dealer Management System (DMS) provides dealers with easy-to-use tools with real-time data access that will streamline any automotive business. With DealerTrack AAX, dealers get the inventory management tools and services needed to accelerate turns and increase profit. Our Sales and F&I solution enables dealers to streamline the entire sales process, quickly structuring all types of deals from a single integrated platform. DealerTrack’s Compliance solution helps dealers meet legal and regulatory requirements and protect their hard-earned assets. DealerTrack’s family of companies also includes data and consulting services providers ALG (Automotive Lease Guide) and Chrome Systems.

Statements in this press release regarding additional financing sources joining the DealerTrack network, the benefits to dealers of the DealerTrack network and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

Factors that might cause such a difference include success in expanding our customer base and product and service offerings, connecting additional financing sources to the DealerTrack network and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2009. These filings can be found on DealerTrack’s website at www.dealertrack.com and the SEC’s website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

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