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"The U.S. automotive accessories market generates over $38 billion in annual sales, with very attractive profit margins," said Richard McLeer, senior vice president, strategy & corporate development at DealerTrack. "Although accessories sales typically are made within a few months after a vehicle is purchased, many dealers today lose that business to other retailers. Dealers have a great opportunity to differentiate themselves and add a lucrative new profit center by consistently presenting all customers with accessories options and managing the entire accessories sales process more systematically."
To address dealers' varied needs more effectively, the solution is composed of three fully integrated modules:
* Buy - This component, free to dealers, is an electronic catalog featuring products from a broad network of OEM and aftermarket suppliers. The e-catalog enables dealers to quickly browse and locate a wide range of accessories that match a vehicle, highlighting the most popular choices. Dealers can make purchases directly from suppliers with the click of a mouse, for delivery as soon as the next day. With online access to this extensive supplier network, dealers get attractive pricing and minimize the need to carry costly accessory inventories. * Sell - This module enables dealers to market and sell accessories more effectively from any location in their dealership, as well as on their websites. It includes "Cool Ideas," dynamic media presentations of accessorized vehicles that bring the excitement of accessories and personalization to any computer with an Internet connection in the dealer's showroom, service department or other location. The product also includes a 3D visualizer that allows customers to build their own personalized vehicles. These capabilities help dealers to consistently present and price a wide range of both OEM and aftermarket accessories. * Manage - This component helps dealers to maximize the profitability of their accessories departments by managing the entire sales and fulfillment process in one integrated system, either for one store or across their entire enterprise. It enables dealers to track and manage every accessories lead, and to easily develop email or direct mail campaigns targeting the dealership's existing vehicle customers for potential accessories sales. With its sophisticated reporting tools, dealers can make better decisions by understanding which accessories are selling and which are not, and identifying trends and future opportunities.
Mr. McLeer concluded, "By enabling dealers to buy and sell accessories more effectively, and providing a streamlined technology framework to energize and control the accessories workflow, the DealerTrack Accessories Solution can help dealers substantially increase high-margin accessories sales, potentially offsetting some of the current pressures on their profitability."
Steve Goff, service manager at Notbohm Motors in Miles City, Montana, said, "The DealerTrack Accessories Solution is directly responsible for helping us increase our sales and profitability. Since we started using the solution over a year ago, our accessories sales have increased by 85 percent."
About DealerTrack
DealerTrack Holdings, Inc. (Nasdaq:TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the company provides dealer management systems (DMS) through its Arkona, Inc., subsidiary. Over 21,000 dealers, 700 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits to dealers of the DealerTrack Accessories Solution 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 Holdings, Inc. 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: the number of suppliers and dealers that participate in and use the DealerTrack Accessories Solution, customers willingness to purchase accessories through an automotive dealer and other risks listed in our reports filed with the SEC, including DealerTrack's Annual Report on Form 10-K for the year ended December 31, 2007. These filings can be found 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 we disclaim 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.
TRAK-G
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: DealerTrack Holdings, Inc.
DealerTrack Raphael Carty (516) 734-3777 raphael.carty@dealertrack.com RF Binder Partners Stephanie Lowenthal (212) 994-7619 stephanie.lowenthal@rfbinder.com
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