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Dealertrack Expands Cutting Edge Digital Retailing Suite
with Online Dealer-Controlled Vehicle Trade-In Appraisal Tool
New TradeDriver Tool Available for Automotive Dealer, OEM and Industry Portal Websites
LAKE SUCCESS, N.Y., June 17, 2013 – Further expanding their innovative suite of digital retailing tools for automotive retail websites, Dealertrack Technologies, Inc. (Nasdaq: TRAK), today introduced TradeDriver™, a powerful online trade-in appraisal tool.
TradeDriver enables dealers, OEMs and third-party portals to present customized vehicle trade-in appraisal offers directly to consumers on their websites. This powerful tool leverages local market data and features dealer-controlled appraisal values, resulting in realistic appraisals for used vehicles through the combination of Dealertrack analytics, dealer-configured settings and Black Book® data.
“Research has shown that 54 percent of car shoppers want to obtain a realistic trade-in offer online1, and many of those consumers will begin their shopping process through a dealership or third-party website,” said Raj Sundaram, executive vice president and group president, Dealer Solutions, Dealertrack. “This desire for accurate information creates an opportunity for dealers to capture more higher-quality leads, win more appraisals and ultimately close more deals, simply by giving customers the engaging online shopping experience they’re looking for.”
TradeDriver is available as a web service for partner integration and as a website plug-in for dealerships’ websites. TradeDriver and the rest of Dealertrack’s Digital Retailing online solutions, including SmartFind, PaymentDriver and FinanceDriver functionality, can be integrated into third-party dealer websites and are also included as a core component of Dealertrack’s Interactive Suite for dealer websites. Visit dealertrack.com/digitalretailing to learn how dealerships are increasing their online lead to sale conversion rates through their online marketing channels with Dealertrack Digital Retailing Solutions.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 19,000 dealers with more than 1,300 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions. For more information visit www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of TradeDriver 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 Technologies 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 use of TradeDriver 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 ending December 31, 2012. These filings can be found on Dealertrack Technologies’ 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 Technologies 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.
Black Book is a registered trademark of Hearst Business Media Corporation.
1Data from a 2012 study by Chrome Data Solutions.