REDMOND, Wash., July 12, 2000 — The MSN® CarPoint™
online automotive service, the most visited car-buying site on the Web, today announced a strategic relationship with iMotors.com, the first online used car retailer. The relationship will provide users of CarPoint with used car-buying service with access to iMotors, which finds, buys, certifies and delivers 1- to 5-year-old used vehicles based on consumers’ custom orders. The relationship further enhances the CarPoint Used Car Marketplace, a service that allows consumers to search for the used vehicle of their choice and then checks local dealer inventories for availability.
In addition to the cars available on the CarPoint Used Car Marketplace, consumers will gain the additional purchasing option of iMotors, which allows them to specify and buy the exact car they want. After iMotors’ nationwide network of experienced car buyers find and purchase the car, it is transported to one of iMotors’ vehicle certification centers where ASE and I-CAR certified technicians test, inspect and certify the vehicle. Consumers pick up their iMotors vehicle, complete with a money-back guarantee, at a local iMotors delivery center. CarPoint will make the program available in iMotors markets throughout the West Coast, as well as New York and Chicago, and the program will expand as iMotors rolls out nationwide.
“By combining the extensive CarPoint Used Car Marketplace with iMotors’ ability to find, certify and deliver used cars to customers’ specifications, we are offering consumers a comprehensive solution for buying used cars online,”
said Jeff Dossett, CEO of CarPoint.
“This relationship helps CarPoint provide a broad range of choices to make it easier for consumers to buy and own a car.”
“iMotors matches each consumer with the car they want,”
said Adam Simms, CEO of iMotors.
“When purchasing a used car, consumers can be restricted to inventories within their geographic region. Now iMotors offers CarPoint consumers a selection of used cars available throughout the country, as well as comprehensive quality assurances and guarantees.”
iMotors was launched in September 1999 as the Internet’s first and only online used car retailer, allowing customers to buy thoroughly tested, inspected and certified used vehicles entirely online. iMotors is a privately held company, backed by a renowned group of investors with successful track records at leading land-based retail and Internet and e-commerce businesses. Investors include Oak Investment Partners, Global Retail Partners, Trinity Ventures, Vulcan Ventures, Rosewood Capital Partners, Moore Capital Management Inc. and MeriTech Capital Partners. For additional information, visit http://www.imotors.com/ or call 888-IMOTORS (466-8677).
Launched in October 1995, MSN CarPoint, located at http://www.carpoint.com/ , is the leading online automotive marketplace, receiving more than 6 million consumers each month. From product reviews and surround video features to new and used car pricing, the CarPoint site helps consumers find the car they love, at a price they can afford. With details on more than 10,000 car models and 100,000 used vehicles, CarPoint allows visitors to research and compare cars of virtually every make and model, identify local dealers and receive instructions for post-purchase service and maintenance.
CarPoint generates more than $650 million in auto sales each month. With the planned acquisition of DriveOff.com, CarPoint will have a network of more than 5,000 affiliated dealers nationwide and is exclusively endorsed by the American International Automobile Dealers Association.
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