CDMdata, DealerTrack Integrate Products; Provide Dealers Enhanced Inventory Management Solutions
New Tools Drive Efficiencies, Quicken Inventory Turnover to Increase Profitability
IRVINE, Calif. and LAKE SUCCESS, N.Y., Feb. 8 /PRNewswire/ -- CDMdata, Inc., a Kelley Blue Book company, and 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 announce the completion of a series of product integrations between the two industry leaders.
Through the new product integration deal, DealerTrack is now offering an integrated version of CDMdata's AutoOffice Internet marketing solution directly to DealerTrack AAX customers. AutoOffice, a Web-based inventory management solution, is designed as a one-stop-shop for pricing, managing, marketing and selling inventory online. The combined tool simplifies the collection of vehicle information, detailed seller's notes and photos, and distribution of the listings to online advertising Web sites. Through this new integration, dealers can price and market inventory, monitor sales and access appraising detail all from one tool, eliminating multiple points of data entry, increasing accuracy and marketing the car online days earlier.
"CDMdata and DealerTrack have joined forces to provide dealers with the ability to more profitably manage the vehicle lifecycle from trade-in appraisal, pricing, and marketing all the way to making the sale," said Mike Romano, chief operating officer for CDMdata, Inc. and senior vice president of dealer strategy for Kelley Blue Book. "The combined strengths of the two organizations and their products give dealers the upper hand in their marketing efforts against the competition."
With this combined product suite, dealers control asset management, pricing analytics, valuation and inventory marketing. Ultimately, the use of this offering could decrease time to market and eliminate transposition errors, allowing dealers to focus on other aspects of the business.
"The rules of online vehicle marketing are evolving, and as a result, the technology dealerships use must change to keep pace," said Raj Sundaram, senior vice president, solution and services group at DealerTrack. "Having the best and most comprehensive tools to support online marketing efforts will lead to better business decisions and improved profitability."
For more information about Kelley Blue Book and CDMdata dealer products, services and solutions, please visit www.800bluebook.com. For more information about DealerTrack AAX and other solutions, please visit www.dealertrack.com/inventory.
About CDM Dealer Services and CDMdata, Inc. (www.cdmdata.com)
CDMdata, Inc. provides unparalleled technology and industry-leading service to the automotive industry. CDMdata, Inc. solutions increase client revenues by increasing productivity and data accuracy. CDM provides proprietary hardware and software solutions that streamline inspection, valuation, distribution, marketing and Internet sales processes. CDM's flagship product is the DigitalLot Solution, which provides automotive dealers with the hardware and software they need to manage the collection and distribution of automotive information over the Internet. CDMdata, Inc. is a Kelley Blue Book company. CDM Dealer Services is a wholly-owned subsidiary of CDMdata, Inc.
About Kelley Blue Book (www.kbb.com)
Since 1926, Kelley Blue Book, The Trusted Resource®, has provided vehicle buyers and sellers with the new and used vehicle information they need to accomplish their goals with confidence. The company's top-rated Web site, www.kbb.com, provides the most up-to-date pricing and values, including the New Car Blue Book® Value, which reveals what people actually are paying for new cars. The company also reports vehicle pricing and values via products and services, including software products and the famous Blue Book® Official Guide. According to the C.A. Walker Research Solutions, Inc. - 2009 Spring Automotive Web Site Usefulness Study, kbb.com is the most useful automotive information Web site among new and used vehicle shoppers, and half of online vehicle shoppers visit kbb.com. Kelley Blue Book's kbb.com also is a W3 Gold Award winner, sanctioned by the International Academy of Visual Arts. Kbb.com is a leading provider of new car prices, used car Blue Book Values, car reviews, new cars for sale, used cars for sale, and car dealer locations.
About DealerTrack (www.dealertrack.com)
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 more than 17,000 dealers with over 800 financing sources. 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 better data along with the tools to make smarter, more profitable inventory decisions. 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.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of DealerTrack's inventory solutions and the integration of Kelley Blue Book's data and tools 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 DealerTrack's inventory solutions, 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.
SOURCE: Kelley Blue Book
Director, Public Relations
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