Zag

Autotrader.com Buys Kelley Blue Book

nextuprresearch2 — Tue, 26 Oct 2010 09:14:00 +0000

Autotrader.com is expected to announce Tuesday the $500 million-plus acquisition of venerable Kelley Blue Book Co., the best-known provider of information about the value of new and used cars.

The deal will unite two closely held companies in an effort to create the leading player for car buyers using the Internet to research purchases. The companies garner at least 13 million unique visitors each a month, according to the companies.

Kelley Blue Book will operate as a subsidiary of AutoTrader.com and maintain its headquarters in Irvine, Calif. Kelley Blue Book President and CEO Paul Johnson, along with other executives, will remain at the firm.

As part of the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata, which provides hardware and software for the auto industry, and CDM Dealer Services, which offers inventory-management software. The deal is expected to close by the end of the year.

Blue Book Market Report Data Reveals Why Used Hybrids Offer Best Value for Today’s Green Drivers

nextuprresearch2 — Mon, 20 Sep 2010 08:16:32 +0000

Kelley Blue Book reports that now may be a great time to buy for those who purchase hybrids with the intent of reducing emissions and greenhouse gases as opposed to savings at the pump, as covered in the company’s Blue Book Market Report for September 2010. During the past year, hybrid values have not kept pace with the appreciation of comparable segments or the overall marketplace. This has created a unique opportunity to buy a hybrid vehicle at a substantial savings compared to last year or even earlier this year.

Cars.com adds mobile chat to connect dealers with shoppers

nextuprresearch2 — Tue, 31 Aug 2010 08:14:10 +0000

Cars.com has extended its online chat to mobile devices to help dealers connect with shoppers even when they are away from their desks assisting other customers. The mobile chat functionality allows salespeople to be more responsive to shoppers’ inquiries, even if they have stepped away from their desk. Dealers can respond at shoppers’ convenience, giving them the information they need to take the next step toward a purchase.

Car Dealerships continue to decline

nextuprresearch2 — Fri, 13 Aug 2010 15:34:00 +0000

New car dealerships continued to decline in the first half of 2010, according to Detroit-based Urban Science. Dealership count fell to 18,220 after 228 showrooms closed in that time period.

Last year’s GM and Chrysler bankruptcies had led to 1,603 dealerships closing down. The trend will continue this year but at a more normal rate of 1% to 2% a year, Urban Science said.

Currently, the dealership count continues to churn as Chrysler and GM work to complete their respective network downsizings. GM plans to cut its dealers down from 5,114 currently to 4,500 by Nov 1. Chrysler will shed about 700 dealerships when all the changes are completed this year. The company has 2,315 dealerships and plans to reduce the number to 2,300 by the end of 2011.

Ford has announced that it will dissolve its Mercury brand, which may affect some dealers who operate Lincoln-Mercury locations.

Consumer Reports Teams with Zag

nextuprresearch2 — Tue, 06 Jul 2010 14:29:15 +0000

Consumer Reports has launched a Build & Buy program, in collaboration with Zag, to help consumers purchase new vehicles at competitive prices from dealers who are held accountable for high customer satisfaction. The program will complete CR’s extensive, unique vehicle reviews, ratings and car-buying advice by allowing each consumer to get low, guaranteed upfront price quotes from local dealers for the specific car of the consumer’s choice.

Participating local dealers have agreed to follow strict guidelines of conduct in order to help provide an easier, more transparent and consumer friendly car-buying experience. The program is available to Consumer Report subscribers and to purchasers of Consumer Reports New Car Price Reports. Dealers participating in the Build and Buy program pay Zag a fee. Separately, Zag pays Consumers Union a flat fee for each car sold. All payments are made independent of what makes or models were bought, which participating dealer those vehicles were bought from, or who bought those vehicles.

Zag Raises $11.1M More

nextuprresearch2 — Tue, 15 Jun 2010 09:23:31 +0000

Zag, has raised $11.1M in a new equity funding round, according to a regulatory filing by the firm Tuesday afternoon. Source and details on the funding have not yet been announced by the company. The filing indicates the first funding in the round came on June 2nd.

Zag Launches Total Loss Auto Buying Program for Insurers

nextuprresearch2 — Tue, 18 May 2010 07:14:28 +0000

Zag announced the launch of a dedicated Total Loss Auto Buying Program to help auto insurance companies increase customer satisfaction and loyalty, cut claims cycle times and reduce costs. Two years in development, Zag’s Total Loss Auto Buying Program was designed in conjunction with industry veterans to help total loss sufferers replace their car quickly and without the usual car buying hassle.

USAA expands access to online car-buying service

nextuprresearch2 — Mon, 05 Apr 2010 11:17:04 +0000

USAA is opening its online car-buying service to prospective members as it pushes to expand its membership to all veterans of the U.S. Armed Forces who served honorably. The service, which was previously available only to established members, allows members to shop online for a new vehicle at authorized dealers in their area, lock in a guaranteed price and secure insurance and financing needs. About 170,000 members are currently using the service each month. However, the service is available to all of the company’s current and prospective members, which numbers 61 million.

USAA offers its car-buying service through Zag, a leading provider of online car buying programs for some of the nation’s foremost brands.

Zag: 100,000 Cars Sold, Profitable

nextuprresearch2 — Mon, 22 Mar 2010 08:20:41 +0000

Zag, which develops online car buying software, announced that it has hit the 100,000 cars sold mark on its service. The firm said that the brands using its online car buying software–including USAA, AAA, American Express and Overstock–sold over 100,000 new and used vehicles since launching in 2006.

NEA Partners with Zag

nextuprresearch2 — Wed, 03 Mar 2010 16:29:00 +0000

National Education Association’s Member Benefits Corporation (NEA MB), which provides financial products, services and solutions tailored for NEA members and their families, has partnered with Zag, to launch the NEA Auto Purchase Advantage.

NEA Auto Purchase Advantage is designed to provide NEA’s 3.2 million members with automobile discounts and a haggle- and hassle-free car-buying experience. Using Zag.com Inc.’s online car buying platform, NEA members will now be able to save on average, $5,000 off of MSRP and have access to an exclusive network of over 2,700 Certified Dealers that provide low upfront car pricing and a refreshingly easy car-buying experience.