LAKE SUCCESS, N.Y.,
June 28, 2012 /PRNewswire/ --
Reaching a new milestone in its history, DealerTrack (Nasdaq: TRAK)
today announced the number of active lenders connected to the
DealerTrack credit application network has exceeded 1,200 U.S.
lenders.
(Logo:
http://photos.prnewswire.com/prnh/20101028/DEALERTRACKLOGO )
The DealerTrack credit application network allows dealers to
electronically submit credit applications to their connected
network of banks, independent finance companies, captives, and
credit unions. The network has grown from five U.S. lenders
in 2001 to more than 1,200 lenders today.
"Our credit application network continues to be the leading
platform to support a dealership's sales and F&I workflow,"
said Robert Granados, vice president
and general manager of DealerTrack's Sales and F&I Solutions.
"The combination of the recent automotive retail market growth, the
strength of our industry partnerships, and recently introduced
functionality has allowed us to continue to expand the size and
value of our network for dealers and lenders through the first half
of the year."
Earlier this year, Mercedes-Benz Financial Services joined the
DealerTrack credit application network used by 350 Mercedes-Benz
dealers in the U.S. In addition, DealerTrack expanded the
reach of its network with the introduction of DealerTrack Mobile, a
new mobile application that enables dealers and lenders to securely
manage and monitor finance and consumer credit application
activities in real-time from their mobile devices.
About DealerTrack (www.dealertrack.com)
DealerTrack's intuitive and high-value web-based software
solutions and services enhance efficiency and profitability for all
major segments of the retail automotive industry, including
dealers, lenders, OEMs, third-party retailers, agents, and
aftermarket providers. DealerTrack, whose solution set for dealers
is the industry's most comprehensive, operates the largest online
credit application network in the United
States, connecting over 18,000 dealers with more than 1,200
lenders. DealerTrack's Dealer Management System (DMS)
provides dealers with easy-to-use tools and real-time data access
to enhance their efficiency. DealerTrack's Inventory offerings
provide vehicle inventory management and merchandising solutions to
help dealers drive higher in-store and online traffic with
state-of-the-art, real-time listings, accelerate used-vehicle turn
rates, and increase dealer profits. DealerTrack's Sales and F&I
solutions allow dealers to streamline the entire sales process as
they structure deals from a single integrated platform. Its
Compliance offering helps dealers meet legal and regulatory
requirements, and protect their assets. DealerTrack also
offers additional solutions for the automotive industry, including
electronic motor vehicle registration and titling applications,
paper title storage, and digital document services. For more
information visit: www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of the
DealerTrack credit application network, the continued growth of
lenders on that 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 the economic
factors affecting the automotive finance market and the
availability of credit, DealerTrack's ability to attract additional
lenders, 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, 2011. 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
SOURCE DealerTrack