DealerTrack Adds New Functionality to Its InventoryPro Inventory Management Solution
Partners with Experian Automotive and AutoRevo
Lake Success, NY - March 17, 2009
- (BUSINESS WIRE
) - 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 it has enhanced its InventoryPro inventory management solution with the addition of:
- Expanded market reporting and analytic capabilities
- The ability to update Internet pricing to help dealers maximize profit.
These additions to InventoryPro™, coupled with the recently acquired AAX® and PriceDriver™ businesses, further strengthen automotive retail’s most complete inventory solution.
Price forecasting analytics provided by Automotive Lease Guide (alg), Inc., a DealerTrack company, and AutoCount market reporting data from Experian Automotive will help dealers identify sales opportunities and stock the most profitable, fastest-turning vehicles. Recent sales data is available for a dealer’s market area. Additional sales performance data includes transaction prices, days-to-turn and gross profit, both at a regional and national level. Armed with this information, dealers can take action to proactively price their inventory to accelerate inventory turn and/or increase profitability, and make better wholesale/retail decisions.
Through an expanded partnership with AutoRevo, which already supplies Internet price updates to AAX and PriceDriver, users will be able to update a vehicle’s price on their Internet listings. As dealers decide on appropriate price changes, they can modify their vehicle pricing on third-party sites – such as Cars.com, Autotrader.com, eBay Motors and craigslist – with a single mouse-click.
“With robust new analytics and website update capabilities, DealerTrack’s InventoryPro is a more powerful tool for dealers looking to better control their inventory,” said Tim Zierden, general manager, inventory at DealerTrack. “By helping dealers stock the right vehicles and price them right, the solution delivers demonstrated value – for a substantial return on their technology investment.”
“In today’s trying times, dealers need to have up-to-date market reporting that gives them insight into what’s selling across their market so they can better manage their inventories,” said Scott Waldron, president of Experian Automotive. “We are excited to partner with DealerTrack in helping to supply dealers with this information so they can continue to make the best inventory decisions for their businesses.”
“We are pleased to provide Internet pricing updates for all three DealerTrack inventory management solutions – AAX, InventoryPro and PriceDriver,” said Chad Polk, president of AutoRevo. “Updating inventory on the Internet has become a critical element of selling online. We are excited to partner with DealerTrack to help give dealerships the ability to move cars online fast.”
DealerTrack’s InventoryPro provides dealers with the tools they need to monitor and manage their inventory. In addition to the vehicle sales performance reports, dealers can access metrics from multiple sources to complete appraisals, search real-time auctions for sourcing and vehicle stocking, view pricing recommendations based on their own transaction data, and receive real-time retail market pricing data.
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 DealerTrack DMS (dealer management system) is used by dealerships nationwide. Over 19,000 dealers, 730 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 of the DealerTrack Inventory Management Solution, added functionality of InventoryPro, 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: the adoption by dealers of the DealerTrack Inventory Management Solution, the performance by DealerTrack’s third party partners, 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, 2008. 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.