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 the number of
active financing sources connected to the DealerTrack® network has
reached 750.
“Our achievement of this historic milestone for the DealerTrack network
underscores our commitment to helping dealers succeed in this
credit-challenged market,” said Mark O’Neil, chairman and chief
executive officer of DealerTrack. “We believe the large and growing
number of lenders on our network continues to provide a critical
competitive advantage for our dealer customers by making more finance
sources available to help them close sales.”
Approximately 90 percent of all franchised automotive dealers in the
United States are active users of DealerTrack’s network. Through
DealerTrack, dealers can electronically submit credit applications to
the industry’s largest and most diverse network of banks, independent
finance companies, captive finance companies, credit unions and regional
banks. In addition to its market-leading credit network, DealerTrack is
a leading provider of both on-demand dealer management systems (DMS) and
inventory management solutions in the United States. DealerTrack
subscription and other transaction-based products integrate with the
credit application process and provide an end-to-end dealership
technology solution.
About DealerTrack (www.dealertrack.com)
DealerTrack’s high-value software solutions for the automotive retail
industry enhance efficiency and profitability across every department in
a dealership. DealerTrack’s Dealer Management System (DMS) delivers
flexible and cost-efficient functionality to manage dealership data and
operations. Its Inventory Management, Sales and F&I, and Compliance
solutions help optimize dealership inventory, increase sales and protect
against legal risks. DealerTrack operates a leading online automotive
credit application network, which includes approximately 19,000 dealers
and over 750 financing sources. For more information, visit www.dealertrack.com.
Safe Harbor for Forward-Looking and
Cautionary Statements
Statements in this press release regarding additional financing sources
joining the DealerTrack network, the benefits to dealers of the
DealerTrack network 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: success in expanding
our customer base and product and service offerings; connecting
additional financing sources to the DealerTrack network 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 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