Automobile Protection Corporation (APCO) Announces National Service Contract Program with Manheim Auctions
ATLANTA, Nov. 4 /PRNewswire/ -- Automobile Protection Corporation (Nasdaq: APCO - news) announced today that it has entered into a three year agreement with Manheim Auctions, a subsidiary of Cox Enterprises, Inc., to market and administer a vehicle service contract to independent automobile dealers, under the name Manheim EasyCare(R).
In June 1998, APCO and Manheim launched a pilot program in the State of Georgia, which has proven to be very successful and has generated significant interest on the part of independent automobile dealers. Due to this initial success, the Manheim EasyCare(R) program will now be available to dealers nationwide. During 1998, the program will be introduced at Manheim locations in the states of Michigan, Virginia and North Carolina. The program will be available at all Manheim Auctions in 1999.
Larry I. Dorfman, President/CEO of APCO stated, ''We are delighted to extend the pilot program into a long-term national agreement. The quick acceptance of this program by independent automobile dealers in Georgia is very encouraging. The opportunity to partner with Manheim, with their reputation as a highly respected leader in the automotive industry gives APCO a very positive strategic position to work from and we are working with Manheim to determine what other areas of the industry we might be able to work together in.''
Ralph M. Liniado, Senior Vice President of Development at Manheim Auctions said, ''We are very pleased with the initial results of the pilot and look forward to launching the Manheim EasyCare(R) program nationally. APCO/EasyCare(R) has a major national distribution system of automobile professionals who will help Manheim deliver powerful new services and products to independent and franchised dealers.''
About Manheim Auctions
Founded in 1945, Manheim Auctions, Inc., is the world's largest operator of wholesale automobile auctions with more than 80 locations in North America and the United Kingdom. In 1997, Manheim auctions handled more than six million vehicles and sold almost $28 billion worth of vehicles.
Manheim leads the electronic commerce industry with wholesale automotive sales of more than $200 million since the launch of Manheim Online (www.manheim.com) in 1997. In support of the core auction business, Manheim also provides vehicle reconditioning and certification, automated vehicle pricing products, dealer floor plan financing, dealer business software and government auction services. Manheim is a partner with the Dealer Services Division of Automated Data Processing, offering free Internet used car listings to dealers and consumers via AutoConnect (www.autoconnect.com).
Manheim is a subsidiary of Cox Enterprises, Inc. In addition to Manheim, Cox includes Cox Newspapers, Inc., Cox Broadcasting, Inc., and publicly traded Cox Communications, Inc. and Cox Radio, Inc. Cox Enterprises also provides online news, information and entertainment services via the Internet through Cox Interactive Media. |
