CDMdata and DealerTrack Announce Enhanced Strategic Relationship
October 16, 2009
Companies to Deliver Advanced Offerings to Help Dealers Effectively Market, Competitively Price Inventory with Real Market Data
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 announced an enhanced strategic relationship. The companies will work together to leverage DealerTrack's vehicle inventory data and analytics integrating CDMdata's Internet marketing experience and Kelley Blue Book's marketing and valuation expertise.
This enhanced relationship will provide dealers with additional data-driven efficiencies throughout the entire vehicle sales and marketing process. The relationship will enable dealers to provide more accurate vehicle details, images and customized vehicle comments through one data entry point, eliminating the need to update multiple automotive sales Web sites.
"By joining forces, CDMdata and DealerTrack's data and tools provide a more efficient way for dealers to manage the entire used-vehicle lifecycle," said Mike Romano, chief operating officer for CDMdata, Inc. and senior vice president of dealer strategy for Kelley Blue Book. "As this relationship continues, dealers can expect better offerings from these industry leaders to help sell more vehicles."
In addition to the planned efficiency enhancements announced today, DealerTrack already provides market data that is used to support the inventory pricing and marketing strategies delivered to CDMdata dealership customers. DealerTrack's pricing analytics product has been integrated into CDMdata's Market Pricing tool so dealers can better price their inventory based on real market data and leverage Kelley Blue Book® Values.
"Dealers can achieve greater value and efficiencies in their inventory and online marketing efforts with the combined strengths of these two organizations," said Raj Sundaram, senior vice president, solution and services group at DealerTrack. "Together, these organizations are giving dealers an advantage in the marketplace with access to actual market data, trusted valuations and better marketing potential."
For more information about Kelley Blue Book and CDMdata dealer products, services and solutions, please visit www.800bluebook.com. For more information about DealerTrack Inventory Optimization 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. Kbb.com is a leading provider of new car prices, car reviews and news, used car blue book values, auto classifieds and car dealer locations. No other medium reaches more in-market vehicle shoppers than kbb.com.
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 approximately 18,000 dealers with over 750 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 Inventory Optimization, 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. For more information, visit www.dealertrack.com.
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.