Porsche Financial Services to Connect With DealerTrack
19 Janeiro 2006 - 1:53PM
PR Newswire (US)
LAKE SUCCESS, N.Y., Jan. 19 /PRNewswire/ -- DealerTrack Holdings,
Inc. today announced that Porsche Financial Services Inc. (PFS), a
dedicated provider of finance and leasing products for Porsche
sports cars and high- performance SUVs has signed an agreement to
link its dealer communication and information system with the
DealerTrack(R) online auto finance network. The agreement will
enable Porsche dealers to secure financing for their customers from
PFS through a single connection with DealerTrack's independent
Web-based network. "Connecting with DealerTrack and providing
access to Porsche Financial Services through a single link will
create new efficiencies for our 199 Porsche dealers in the U.S.,
enabling them to provide better service to Porsche customers," said
Ross Dupper, President and Chief Executive Officer of PFS. "The
vast majority of our dealers already use DealerTrack, so
integrating the PFS application process into the DealerTrack
platform was a logical next step." After the national rollout of
the DealerTrack system in early 2006, Porsche dealers will have a
single integrated system to submit all their credit applications
electronically, monitor related application and contract status
changes, access credit reports, and obtain product and program
information. "We are very pleased to welcome Porsche Financial
Services, another major captive finance organization, to the
DealerTrack network," said Mark O'Neil, Chairman and Chief
Executive Officer of DealerTrack Holdings. "We look forward to
continuing to work together to ensure that Porsche dealers fully
leverage the benefits of the DealerTrack platform." About
DealerTrack DealerTrack is a leading provider of on-demand software
and data solutions for the automotive retail industry in the United
States. DealerTrack utilizes the Internet to link auto dealers with
banks, finance companies, credit unions and other financing
sources, as well as other service and information providers such as
the major credit reporting agencies. DealerTrack has established a
network of active relationships with over 21,000 auto dealers,
including over 80% of all franchised dealers; over 200 financing
sources, including the 20 largest independent auto financing
sources in the United States and eight captive financing sources;
and major service and information providers to the retail
automotive industry. DealerTrack's credit application processing
product enables dealers to automate and accelerate customer
financing by increasing the speed of communications with their
financing sources. DealerTrack's integrated subscription-based
software products and services enable auto dealers to receive
valuable consumer leads; compare financing and leasing programs;
sell insurance and other aftermarket products; document legal and
regulatory compliance; and execute financing contracts
electronically. About Porsche Financial Services Porsche Financial
Services Inc. is an Illinois based affiliate of Porsche Cars North
America, Inc. that provides finance and leasing products for
Porsche dealers and customers in the U.S. and Canada. Porsche Cars
North America, Inc. (PCNA), based in Atlanta, Ga., and its
subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers
of Porsche sports cars and Cayenne sport utility vehicles for the
United States and Canada. A wholly owned, indirect subsidiary of
Dr. Ing. h.c.F. Porsche AG, PCNA employs approximately 300 people
who provide Porsche vehicles, parts, service, marketing and
training for its 210 U.S. and Canadian dealers. They, in turn,
provide Porsche owners with best-in-class service. Safe Harbor for
Forward-Looking and Cautionary Statements Certain statements in
this press release are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements
involve a number of risks, uncertainties and other factors that
could cause actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by these
forward-looking statements. The following important factors could
affect future results: increased competitive pressure from other
industry participants and the inability to execute any element of
DealerTrack's business strategy, including selling additional
products and services to existing customers, expanding
DealerTrack's customer base and product and service offerings, and
pursuing acquisitions and strategic alliances. Other factors which
could materially affect such forward-looking statements can be
found in DealerTrack's filings with the Securities and Exchange
Commission, including the risk factors included therein. Investors,
potential investors and other readers are urged to consider these
factors carefully in evaluating the forward-looking statements and
are cautioned not to place undue reliance on such forward- looking
statements. The forward-looking statements made herein are only
made as of the date of this press release and we undertake no
obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances. First Call Analyst:
FCMN Contact: DATASOURCE: DealerTrack Holdings, Inc. CONTACT: Liz
Zale, DealerTrack, Inc., +1-516-734-3758, ; or Jen Malloy,
RF|Binder Partners, +1-212-994-7542,
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