PORTLAND, Ore., Oct. 14, 2008 (GLOBE NEWSWIRE) -- Chrome Systems Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq:TRAK) and an industry leader in managing automotive data, today announced that Manheim, the world's leading provider of vehicle remarketing services, will use Chrome's Automotive Description Service (ADS) web service in its next generation inspection system. ADS will be used to standardize and enhance Manheim vehicle descriptions for consistent and more complete Electronic Condition Reports (ECRs), creating increased buyer confidence and enhancing customers' online experience.
"Inspections start the entire remarketing process and accurate ECRs lead to increased sales and higher customer satisfaction," said Julie Warpool, director, Manheim Inspections Technology. "We chose to use Chrome for vehicle descriptions because their industry-leading solution delivers accurate and complete vehicle information."
Surging demand for online vehicle buying and selling, and the subsequent need for high-quality and consistent ECRs, contributed to Manheim's decision to use Chrome's web services. An easy and cost-effective way to access information on decoded VINs, the ADS web service leads the industry in standardizing all vehicle descriptions and offers an unprecedented level of option matching back to OEM descriptions. As a result, the Manheim vehicle listings are complete and comprehensive, inspiring buyer confidence and increased transactions.
"We're excited to be partnering with Manheim to help them present a premier online wholesale marketplace to their customers," said Peter Batten, general manager, Chrome Systems. "Our ADS web service leverages Chrome's vehicle information to simplify the VIN decoding process and deliver results via our services-oriented architecture. Chrome manages the VIN data and vehicle descriptions so Manheim can focus on delivering the best possible inspection services. This new relationship, which builds upon DealerTrack's partnership with Manheim in the inventory management arena, is another illustration of the companies' commitment to work together to help dealers be more efficient and profitable."
About Chrome (www.chrome.com)
Chrome provides vehicle content, software, technology and services to deliver complete enterprise solutions to all segments of the automotive industry. Chrome pioneered the technology behind electronic vehicle configuration with the introduction of PC Carbook(r), and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers. Chrome processes millions of VIN records through web services. Chrome Systems Inc. is a subsidiary of DealerTrack Data Services, Inc., a DealerTrack Holdings, Inc., company (Nasdaq:TRAK).
About Manheim (www.manheim.com)
Manheim is the world's leading provider of vehicle remarketing services. Through its wholesale operating locations and array of technology products, Manheim impacts every stage of a used vehicle's life cycle, helping commercial sellers and automobile dealers realize the full value of their vehicles. The company's operating location services include reconditioning, certification, inspections, dealer financing, transport, title management and marshaling, among others. Manheim is also the leader in vehicle remarketing technology, using its online tools to connect buyers and sellers around the globe to the world's largest, most comprehensive wholesale marketplace. In 2007, Manheim handled nearly 10 million used vehicles, facilitating transactions representing more than $59 billion in value. Manheim's subsidiary companies provide value-added remarketing products and services, including paintless dent removal (Dent Wizard), Auto Body Repair and salvage vehicle remarketing (Total Resources Auctions).
Manheim is a subsidiary of Atlanta-based Cox Enterprises, Inc., one of the nation's leading media companies and providers of automotive services.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of Chrome's products 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: including selling additional products and services to existing and new customers; Chrome's success in expanding its customer base and product and service offerings; and other risks listed in the DealerTrack's reports filed with the SEC, including its 2007 Form 10-K. 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.
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