Carfax Brings Vehicle History Reports to All AutoNation Locations; Company Named As AutoNation's Best Innovative Partner for 2006.FAIRFAX, Va. -- Carfax, the leading provider of vehicle history information, has entered into an expanded partnership with America's largest automotive retailer - AutoNation, Inc. (NYSE NYSE See: New York Stock Exchange :AN). The two companies will be working together to better evaluate trade-ins and enhance the value of units resold at AutoNation locations across the country. "We're very excited about this partnership. We're already working together to maximize the benefits to AutoNation's customers and dealerships," said Dick Raines, president of Carfax. "Using vehicle history information to better evaluate trades and resell used vehicles has a positive effect on the used car operations of dealers and helps build consumer confidence." Used car shoppers will be given a Carfax Vehicle History Report for any car they're considering at AutoNation stores. Free Carfax Vehicle History Reports will be made available with all AutoNation online listings and eligible vehicles will come with the industry-leading Carfax Buyback Guarantee. "We fully anticipate the impact of our new partnership on the resale value of vehicles sold at all AutoNation stores will be very positive," explains Mike Maroone, president and COO of AutoNation, Inc. "Customers today are better informed and they want the type of information you can only get from a Carfax Vehicle History Report." Carfax was recently named the 2006 winner of AutoNation's prestigious Technology Award - Best Innovator. Carfax earned the honor by continually developing leading edge technology that enhances AutoNation's customer focused processes. About Carfax Founded in 1986, Carfax pioneered the concept of the vehicle history report. Carfax Vehicle History Reports, the most comprehensive collection of used vehicle information ever assembled, can confirm a clean title history or help purchasers identify previous salvage history, odometer fraud Odometer fraud is the illegal practice of rolling back odometers to make it appear that vehicles have lower mileage than they actually do. Odometer fraud occurs when the seller of a vehicle falsely represents the actual mileage of a vehicle to the buyer. , flood damage and more. Carfax, Inc., based in Fairfax, Virginia Fairfax is an independent city forming an enclave within the confines of Fairfax County, in the Commonwealth of Virginia. Although politically independent of the surrounding county, the City of Fairfax is nevertheless its county seatGR6. , is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the R.L. Polk & Co. About AutoNation AutoNation, Inc., headquartered in Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla., is America's largest automotive retailer and a component of the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 Index. AutoNation has approximately 27,000 full-time employees and owns and operates 346 new vehicle franchises in 17 states. This press release includes statements that constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," including with regard to the senior notes offering and the tender offers, such as the completion and timing of such events. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Federal Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward-looking statements, including its long-term growth targets. |
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