03/03 02:17 Autoweb.com Presents at Robertson Stephens 'Tech 2000'
Technology
<AWEB.O>
Autoweb.com Presents at Robertson Stephens 'Tech 2000'
Technology Conference Company Plans For Additional Car-Buying Models That It
Believes Will Have
Strong Consumer Appeal SANTA CLARA, Calif., March 3 /PRNewswire/ --
Autoweb.com (Nasdaq: AWEB), the leading consumer automotive Internet service,
plans to introduce new car-buying models for consumers in the coming months.
Sam Hedgpeth, Autoweb.com's president and chief operating officer, presented on
March 2 at the Robertson Stephens Tech 2000 Conference, where he also outlined
the fundamental ingredients of Autoweb.com's current strategy.
Mr. Hedgpeth discussed Autoweb's consumer focus, increasing traffic volume,
online information and tools, and collaboration with a growing list of industry-leading
portals, manufacturers, dealers and partners. Hedgpeth emphasized the strategic
importance of Autoweb's content and tools, which the company believes it is
leveraging to provide significant value to these key partners. He also provided a brief
update on Autoweb's recent traffic performance.
"We believe the success of Autoweb's dealer referral channel can be measured by
the record volume of traffic and transactions on our site," said Mr. Hedgpeth. In
January, Autoweb secured the top spot as the most visited online car-buying service
for the third month in a row, according to Nielsen//NetRatings.
Autoweb recently conducted an online consumer study of car-buying models among
520 consumers who plan to use the Internet in some way for their next car
purchase. This research continues to confirm that the dealer referral model has the
broadest appeal of existing buying models.
Mr. Hedgpeth said that while its dealer referral channel is meeting the needs of
today's mass market car buyers, the company also plans to leverage its strategic
advantages to meet consumers' evolving online preferences and to capitalize on
emerging market opportunities. Through its extensive dealer and consumer
research, Autoweb has identified additional buying models that it expects will have
strong consumer appeal.
"In the next three to six months, we are planning to introduce at least one, and
possibly two, new car-buying models that we believe will capture the imagination of
mass market consumers," said Mr. Hedgpeth. "This will allow us to reach an even
broader audience by providing consumers with enhanced choice and control, while
meeting the growing online needs of manufacturers and automotive retailers. Our
Member Dealers will play an important role in the success of our existing and
planned models."
About Autoweb.com
Autoweb.com is the leading consumer automotive Internet service, guiding
consumers through every stage of vehicle ownership. From research and buying, to
enjoying, maintaining and selling, Autoweb.com delivers what consumers want.
Starting with comprehensive, unbiased automotive research, Autoweb.com also
provides many options to buy new and used vehicles through its auction and dealer
referral commerce channels. Autoweb.com works with more than 5,000 Member
Dealers and other commerce partners to provide the best experience at every stage
of vehicle ownership. For more information, please visit www.autoweb.com.
Statements in this news release, including statements that include words such as
"expects," "believes" or other future-oriented statements, contain forward-looking
statements that involve risks and uncertainties that could cause actual results to
differ from anticipated results. These risks and uncertainties include unanticipated
changes in competitive behavior, changes in consumer preferences over time, an
inability to forecast future traffic and transactions, and unforeseen problems with
executing contemplated business models. Further information on risk factors that
could affect the company's results is detailed in the Company's filings with the
Securities and Exchange Commission, including its Registration Statement on
Form S-1 (No. 333-71177) and its Form 10-Q for the quarter ended September 30,
1999. SOURCE Autoweb.com
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