AutoTrader.com, an Internet destination and automotive marketplace for buyers and sellers of used vehicles, has announced the expansion of their online classifieds business to include new vehicle listings.
Beginning this month, dealers will be able to list their inventory of new vehicles on AutoTrader.com, reaching an audience of more than 4 million monthly site visitors and potential buyers. Consumers will be able to search for and locate vehicles from extensive listings provided by thousands of new car dealerships through AutoTrader.com's "New Car Marketplace," in addition to the 1.5 million used vehicles currently listed on the site. "This expansion will fulfill an unmet consumer need to find all types of automobiles -- new and used -- in one popular destination," said Chip Perry, president and CEO of AutoTrader.com.
According to Perry, consumers will have more options in the car buying process including locating the largest inventory on the Internet for both new and used vehicles. "Building on the success of its online automotive used-vehicle classifieds model, AutoTrader.com is targeting an unmet consumer need by entering into the new auto arena with its one-of-a-kind new car marketplace product and business model," Perry said.
According to a J.D. Power New Autoshopper.com study released in September 2000, AutoTrader.com, as a used-car site, was ranked among the top 10 percent of automotive sites that new car shoppers are visiting.
J.D. Power also noted in the study the strong potential for a site that enables consumers to search multiple auto dealer new car inventories in one place. AutoTrader.com utilized this insight, along with its own research, to design their new-car search feature to enable consumers to find more vehicles and search in a more useful way than they can on other new-car inventory sites.
"Over the past two and a half years, AutoTrader.com has quickly become one of the most valuable automotive shopping tools for both used and new car buyers and sellers," Perry said. "Similar to newspaper classified ads, dealers wanted to post both new and used vehicle listings on our site to reach our enormous audience; similarly consumers were telling us they wanted more choice and the option to search an aggregated inventory of new vehicles from multiple dealers. Since we are now the clear market leader in the online auto classifieds, it is easy for us to leverage our technology infrastructure and dealer relationships by extending our services into the new car arena."
"Thanks to AutoTrader.com, my business is booming and our used-car inventory is turning at a dramatic pace," said Bert Harrison, director of marketing/business development, Allen Samuels Auto Group, Waco, Texas. "Now that I can list my new vehicle inventory on AutoTrader.com, I have no doubt that sales will keep increasing. With AutoTrader.com's huge audience and strong brand recognition, it's like having a massive sales force online. This is a great move for the company not to mention my business."
AutoTrader.com has experienced high volumes of new car shoppers throughout 2000 as consumers came to the site to sell their current vehicle or obtain pricing information, according to Perry, who said consumers are demanding an all-encompassing automotive Web site where they can search for listings, information and prices on both used and new vehicles. "Establishing a new car marketplace with all manufacturers represented and more dealers to choose from nationwide, AutoTrader.com is once again taking the online automotive industry to new heights by offering consumers a one-stop shop with all the automotive information and inventory any car buyer or seller would ever need on used and new vehicles," Perry said.
About AutoTrader.com
AutoTrader.com is an Internet destination and marketplace for buyers and sellers of used cars, light trucks, vans and sport utility vehicles and for consumers seeking information regarding automotive products and services, such as financing, insurance, and warranties.
AutoTrader.com, through its strategic alliances, aggregates in a single location an extensive network of industry participants and a comprehensive database of 1.5 million vehicle listings and automotive information to create an open marketplace that is local, regional and national in nature.
AutoTrader.com was formed in 1997 and is a majority-owned subsidiary of Manheim Auctions, Inc., which has been in business since 1945 and is the world's largest operator of wholesale auto auctions. Manheim Auctions, a wholly owned subsidiary of Cox Enterprises, Inc., a leading media conglomerate, is AutoTrader.com's principal stockholder and one of AutoTrader.com's strategic partners. Other investors and strategic partners include Trader Publishing Company, ADP, Inc., eBay, Inc. and the venture capital firm, Kleiner Perkins Caufield & Byers.
