DealerTrack Achieves $109 Million Revenue Increase
DealerTrack Holdings Inc. reported that revenue last year came in at $353.3 million, a $109.5 million increase vs. 2010.
LAKE SUCCESS, N.Y. — DealerTrack Holdings Inc. reported that revenue last year came in at $353.3 million, a $109.5 million increase vs. 2010. Revenue for the fourth quarter of 2011 was $91.3 million, up from $62 million recorded during the same period last year.
“Over the course of 2011 we made significant progress in increasing the number of transactions processed by DealerTrack and average transaction revenue per car sold. This progress was further impacted by healthy auto credit and car sales trends throughout the year,” said Mark F. O'Neil, chairman and CEO of DealerTrack. “Our subscription business continues to grow, and we believe we have considerable opportunities to expand our average monthly subscription spend per dealer.”
Revenue for 2012 is expected to be between $365 million and $372 million, representing approximately 13-15 percent growth on a pro forma basis after adjusting 2011 revenue to reflect the dispositions of Chrome and ALG, according to DealerTrack. “In our view, we are entering 2012 in a very strong position to continue to grow revenue at a multiple of auto industry growth, and to improve profitability margins while continuing to invest in long-term growth opportunities," O’Neil said.
More Auto Finance
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →