CarDay Inc. Announces New Long-Term Partnerships With Two of the Nation's Top Auto Retailing Groups; Planet Automotive Group and DCH USA Join CarDay's Growing Franchise Network.Business Editors & Automotive Writers NEW YORK--(BUSINESS WIRE)--Nov. 30, 2000 CarDay Inc. (www.carday.com), the first of its kind brick and click online exchange for used vehicles that incorporates a network of franchised automotive dealers for private buyers and sellers, announced new multi-year partnerships with the Planet Automotive Group and Dah Chong Hong USA (DCH DCH Department of Community Health DCH Diploma in Child Health DCH Defend Council Housing (UK) DCH Data Channel DCH Dil Chahta Hai (movie) DCH Dhaka Community Hospital USA). Two of the largest and most respected automotive dealer groups in the nation, Planet Automotive Group and DCH USA each generate more than $1 billion a year in revenue. Over the coming months, Planet and DCH will house and operate CarDay franchises in approximately 30 of their dealerships throughout New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and New Jersey as well as in other major markets. Under the agreement, CarDay offers consumers pre-owned vehicles from DCH USA and Planet Automotive Group. Dealers conduct CarDay's rigorous 110-point inspection on each of their cars available on the site and each dealership will serve as a CarDay "Certification Center" guaranteeing buyers a carefully chosen, high-quality selection of used vehicles. All CarDay vehicles come with a minimum six-month/6,000 mile powertrain warranty provided by Universal Underwriters; a CarFax or other CarDay preferred vehicle history report; advice on determining pricing; and assistance with financing, insurance, registration and tax issues. CarDay officials said that dealers who partner with CarDay experience immediate benefits. This includes the opportunity to list their inventory on a powerful Web site; to lower vehicle selling expenses as a result of the "virtual lot"; to achieve faster inventory turn-over; to increase business in high-margin departments such as used cars, financing, service and parts); to increase showroom traffic; and to capture customers in the estimated annual 45 million-unit used car market. By year-end, CarDay expects to have 100 certification centers operational in the Northeast. The company already has partnered with other established and respected megadealers in the Northeast including:
-- Burdick Auto Group in Syracuse, NY
-- Holtz House of Vehicles in Rochester, NY
-- Northtown Automotive Companies in Amherst, NY
-- Sussman Automotive Group, in Southern New Jersey
and Philadelphia, PA
-- Ira Motor Group, Danvers in Danvers, MA
-- Inskip Automotive Group in Middletown, RI
Joseph Shaker Shaker Member of the United Society of Believers in Christ's Second Appearing, a celibate millenarian sect. Derived from a branch of the radical English Quakers (see Society of Friends), the movement was brought to the U.S. , founder and president of CarDay, said, "Since the beginning, CarDay has been built for dealers on the belief that no volume of used car transactions can happen online without the fulfillment of a franchised auto dealer. Sellers have payoffs and buyers need to finance. That's why we have partnered with the highest-quality dealers like DCH and Planet. We welcome them and the other large groups to our rapidly growing network of dealers." "Planet Automotive Group is very pleased to team-up with CarDay," said Joseph C. Herman, President and COO of Planet Automotive Group. "The CarDay Web site adds a unique new dimension to our brick and mortar See bricks and mortar. dealerships, and will allow us to offer our used vehicles to a wider segment of the public in an efficient manner. We look forward to a long relationship." Shau-Wai Lam, President and 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. of DCH USA, said, "We are very excited about our partnership with CarDay. We have talked to virtually every dot-com in the used car business and have found that the auto professionals at CarDay know and understand the industry. Their business model holds tremendous promise. Their product is cost effective, efficient and well-designed." CarDay's new dealers as well as an effective advertising campaign and an enhanced "make an offer" business model have propelled CarDay to record traffic and sales in the New York Metro For the region, see . Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies. area. Interestingly, these gains also are in evidence in CarDay's existing New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. markets where the brand launched 6 months ago. About Planet Automotive Group Planet Automotive, based in Coral Gables Coral Gables, city (1990 pop. 40,091), Miami-Dade co., SE Fla., SW of Miami; inc. 1925. Founded at the height of the Florida land boom, Coral Gables is a noted planned city, with tree-lined boulevards and Mediterranean-style buildings. , Fla., is the ninth-largest dealer group in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with gross revenues exceeding $1.3 billion. Planet operates over 60 new car franchises in six states, including: Florida, Illinois, Iowa, Massachusetts, New York and Pennsylvania. About DCH Auto Group Dah Chong Hong USA has been in the automotive retail business since 1977. Total sales of DCH Auto Group's 24 dealerships in New York, New Jersey and 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, will exceed $1 billion in the year 2000. As an indication of its total commitment to customer satisfaction, 13 DCH dealerships have earned the prestigious J.D. Power and Associates Certified Retailer Award. About CarDay Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , CarDay is the first "brick and click" exchange for used vehicles that incorporates a network of franchised automotive retailers. CarDay was launched in May 2000 and began with $25 million in initial funding from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Odeon O`de´on n. 1. A kind of theater in ancient Greece, smaller than the dramatic theater and roofed over, in which poets and musicians submitted their works to the approval of the public, and contended for prizes; - hence, in modern usage, the Capital Partners, Citigroup Investment and Sierra Ventures. CarDay Inc. recently expanded its operations to the New York, New Jersey and Connecticut area and now offers tri-state consumers a hassle-free way to buy and sell used cars on the Internet. Launched originally in New England, CarDay has established franchises with dealerships throughout the tri-state region For other tri-state regions, see . The Tri-State Region is commonly used in the area surrounding New York City to unambiguously refer to the greater metropolitan area. Sometimes the phrase is shortened to "the Tri-State," or "the Tri-State Area" is used instead. . The company will have a national presence by late 2001. |
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