Published: August 19, 2009
DealerTrack Completes Integration of Manheim Market Report with Inventory Optimization Solution
LAKE SUCCESS, N.Y. - (BUSINESS WIRE) - 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 that it has fully
integrated Manheim Market Report (MMR) data with its Inventory
Optimization solution, enabling dealers to more easily review
auction trends and leverage that information in managing their used
vehicle inventory.
As previously announced, DealerTrack Inventory Optimization integrates
and expands the capabilities acquired with DealerTrack's purchase of AAX
in January. The new platform is structured to meet the needs of any
dealer with one of four distinct service offerings. DealerTrack's
earlier inventory solution had fully incorporated MMR data, but AAX's
had not.
"By completing the integration of MMR data, we have leveraged
DealerTrack's technology infrastructure to deliver a significant
enhancement for all Inventory Optimization subscribers," said Tim
Zierden, general manager, inventory solutions at DealerTrack. "This is
another illustration of our commitment to provide dealers with more and
better data so they can make the right inventory decisions and boost
their profits in these challenging times."
Manheim Market Report provides real-time auction transaction volume and
pricing data on specific used vehicle makes and models, both on a
national and regional basis. DealerTrack Inventory Optimization is fully
integrated with MMR which saves dealers time and enhances their
efficiency - because there is no need to login or re-enter vehicle data
in a separate window.
"We are pleased to strengthen our partnership with DealerTrack through
the integration of Manheim data across DealerTrack's entire suite of
inventory solutions," said Lynn Morgan, Vice President at Manheim.
"Working together, we are helping dealers better manage their used
vehicle inventory by providing highly relevant live market data."
DealerTrack also announced that it has received very positive feedback
from dealers on the new Scoring
and Recommendation functionality that was launched with its
redesigned Inventory Optimization solution last month. Scoring and
Recommendation helps dealers determine what they should do with
trade-ins and how they will value them by assigning a numerical score
and buy/sell recommendation based on actual recent transactions
involving those types of vehicles.
"DealerTrack's new Scoring and Recommendation tool makes assessing
specific vehicles we're considering as trade-ins more transparent. In
addition it's helping us evaluate how a make and model are performing in
our local market and historically in our dealerships," said Geoff
Bedine, Used Vehicle Director for Group 1 Automotive. "This solution is
providing us accurate data so we can have a quantifiable plan for how we
will market or dispose of trades, thus giving us the necessary
flexibility to make valuation adjustments at the time of sale."
About DealerTrack (www.dealertrack.com)
DealerTrack's 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.
DealerTrack operates the industry's largest online credit application
network, connecting approximately 18,000 dealers with over 750 financing
sources. Our solution set for dealers is the industry's most
comprehensive. Our Dealer Management System (DMS) enables dealers to
effectively manage data and operations from a system with an open
integration interface. 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 Optimization Solution 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 accuracy of the
information gathered by DealerTrack, the integration between Manheim and
DealerTrack, the implementation and use of DealerTrack Inventory
Optimization by its customers, 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 f or
to reflect the occurrence of unanticipated events or circumstances.
TRAK-G
DealerTrack
Mark Brown, 516-734-3887
mark.brown@dealertrack.com
or
RF|Binder
Partners
Anuj Baveja, 212-994-7552
anuj.baveja@rfbinder.com
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