Autofusion Corporation Leverages Success of Its CarPrices.com Site With Aggressive Business-to-Business Deals.Business Editors/Automotive Writers SAN DIEGO--(AutomotiveWire)--Oct. 3, 2000 Company's Automotive E-Commerce Products Licensed to Growing Number of Sites Autofusion Corporation, the leader in automotive e-commerce technology, is actively licensing its suite of products and services for Internet auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. , the company announced today. By licensing its e-commerce products, Autofusion will create new revenue streams for both auto-related and general consumer Web sites whose users are interested in researching or buying cars. Autofusion's Select-A-Car(TM) and Multi-Bid(TM) are at the core of the company's product suite. Both products streamline the process of buying and selling cars over the Web and enable any Web site to quickly tap into the sales potential for automobiles on the Internet. Both products will be showcased on CarPrices.com, the company's consumer Web site. "As an independent company, without financial ties to any manufacturer, we're a source of sophisticated consumer- and dealer-friendly products that add immediate value to any business involved in Internet auto sales," said Autofusion CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Louis Urbano. "Auto-buying information is the third most searched-for category online, behind only books and travel, and represents significant potential profits for our clients." Select-A-Car, jointly developed by Autofusion and partner Selectica(TM), Inc. (Nasdaq:SLTC SLTC Salt Lake Technical Center (OSHA) SLTC Society of Leather Technologists & Chemists ), is an online car configurator that enables auto dealers, manufacturers, car-buying services, Internet portals, and other sites to provide their consumers with customized, comprehensive car configuration and informed purchasing capabilities. Multi-Bid, promoted as PriceWar on CarPrices.com, is a reverse-auction system in which multiple dealers compete for a new-car buyer's business by bidding exact prices on a desired vehicle. The service started in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. in November 1999 and expanded to southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, in April 2000. The company expects the Multi-Bid service to be licensed and available in the nation's top 40 markets by year-end. Group 1 Automotive Group 1 Automotive, Inc. NYSE: GPI is a Fortune 1000 company, based in Houston, Texas and founded in 1997. It is one of the five largest automotive retailers in the United States with 143 dealerships in 14 states. Inc. (NYSE NYSE See: New York Stock Exchange :GPI (Graphical Programming Interface) A graphics language in OS/2 Presentation Manager. It is a derivative of the GDDM mainframe interface and includes Bezier curves. ), which operates 98 dealerships nationwide, recently licensed Select-A-Car(TM)from Autofusion. Group 1 chose the Select-A-Car(TM)configurator to assist online customers in the decision-making and car purchasing process Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements on its dealer sites. Select-A-Car's state of the art technology combined with Group 1's strong regional platform dealership network enables Group 1 to capitalize on its long-established name recognition and customer loyalty. About Autofusion Corporation Autofusion Corporation, headquartered in San Diego, is the leader in Internet car-buying technology. Autofusion offers sophisticated auto configuration and reverse-auction products that increase profitability and streamline automotive e-commerce for companies involved in Internet auto sales. The company's technology products are showcased on CarPrices.com, its consumer Web site. CarPrices.com attracts more than 1.5 million visitors a month and is responsible for more than $2 million in new-car sales each day. |
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