To: Calvin who wrote (10728 ) 4/15/1999 8:49:00 AM From: Roy F Respond to of 41369
America Online Signs $17 Million Deal With AutoConnect Naming AutoConnect AOL's Premier Used Car Resource In Largest Agreement of its Kind, AutoConnect to Provide Online Used AutoClassifieds to More than 19 Million AOL and CompuServe Members and Visitors to AOL.COM April 15, 1999 08:30 AM ATLANTA, April 15 /PRNewswire/ -- In a deal that is the largest online marketing agreement ever announced, America Online, Inc., the world's leading interactive services company, signed an agreement today with AutoConnect, (www.autoconnect.com) the largest used car site on the Web. The partnership will provide AOL's and CompuServe's combined 19 million members and the millions more Web-based visitors to AOL.COM with direct access to AutoConnect's inventory of 750,000 used cars and trucks, the largest on the Web. Consumers will also have access to a wide selection of automotive reviews, articles and other aftermarket information. AutoConnect's extensive inventory is provided by 31,000 dealers nationwide, nearly ten times more participating dealers than any other online automotive buying service. AOL and CompuServe members and their families will have direct links to AutoConnect.com through the "ClassifiedPlus" areas of the three America Online (AOL) properties included in the agreement: AOL, AOL.COM and CompuServe. "We are very excited to be partnering with AOL," said Chip Perry, president and CEO of AutoConnect. "This unparalleled investment in online automotive marketing will enable us to drive tens of thousands of additional buyers to our dealers every month. Our goal is to continually provide dealers with the largest number of qualified buyers through our free listings, Web sites, traffic links, and banner advertising. AutoConnect is by far the best marketplace for used cars in America." The AOL agreement will strengthen AutoConnect's proven ability to actively direct used car shoppers to local dealers, such as Tom Stall of Bob Stall Chevrolet in LaMesa, California. "This partnership with AOL is great news. AutoConnect is already sending us about 300 potential car buyers per month to our web site," said Stall. "This deal means that more customers will visit my web site and my dealership." AutoConnect is the only automotive site of national scope to provide free Internet classifieds/listings to both the dealer and car buyer, with inventory five-to-six times larger than any other online automotive buying service. With this partnership, AOL and CompuServe members and visitors to AOL.COM will also be able to list their cars for sale, free of charge. In terms of volume, used cars now outsell new ones by a margin of four-to- one and represent nearly 80 percent of the retail automotive market. According to NADA, some 41 million used cars worth a collective $370 billion were sold in the US in 1998. This compares with 10.5 million new cars and $303 billion. As part of the agreement, AutoConnect will also be the main sponsor of AOL's Used Car "Decision Guides" on AOL, AOL.COM and CompuServe, helping consumers determine what car is right for them by walking them through a series of simple, intuitive questions. Using AOL's PersonaLogic(TM) technology, the "Decision Guide" returns a list of cars that match each individual's unique needs. Consumers are then able to find out why specific cars were not included and perform side-by-side comparisons of different models. "Our partnership with AutoConnect is yet another example of our commitment to delivering convenient, high-quality resources online," said Jonathan Sacks, Senior Vice President and General Manager of the AOL service. "The millions of people who use the AOL family of brands every day appreciate resources that save them time and help make their busy lives more convenient. The used-car purchasing process can be a long and complicated one, which is why we're excited to be able to give our members such an expansive, practical tool for selling or selecting their next used car or truck." About AutoConnect AutoConnect is owned by Manheim Auctions, Inc. of Manheim Auctions, a subsidiary of media giant Cox Enterprises, and the Dealer Services Group of Automatic Data Processing, Inc. (ADP) AUD , and offers Internet shopping information and services for pre-owned and new cars and trucks. Manheim and ADP provide a variety of products and services, to a combined total of more than 90 percent of the U.S. automotive dealers, making AutoConnect the Internet's largest and most significant consolidation of automobile dealer relationships and used car listings. The site opened to dealers and consumers in May 1998. SOURCE AutoConnect