An automotive media and marketing services company that helps dealers sell cars and services, and manufacturers build brands through efficient marketing and advertising primarily through the Internet.
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Autobytel Inc is an automotive marketing company, which owns and operates a list of websites that helps dealers to sell cars and manufacturers to build brands through efficient marketing and advertising. It provides tools and programs to automotive dealers and manufacturers to help them generate sales, enhance customer loyalty and reduce customer acquisition costs. With 60% of the revenues coming from Lead Fees, rest of the revenues is being shared by advertising, CRM, and data and applications segment.
It is estimated that automotive dealers and manufacturers in US spent approximately $ 30 billion on marketing and advertising annually. The internet automotive space continues to grow, as more and more marketing dollars from both dealers and manufacturers migrate to the internet. The online automotive advertising market, which was about $ 1.95 billion in 2006, is expected to reach $ 2.7 billion by 2007. Endorsing the same, companies like Autobytel are well positioned to reap the benefits, by enhancing customer loyalty and reduce acquisition cost by providing them specific solutions to generate sales.
Autobytel has recently sold off its price and specification business called Automotive Information Center (AIC) to R.L Polk and Company. This divesture helps Autobytel to focus on its core business of developing new ways to deliver value and solutions to its customers. Also, it has announced that it is going to launch its new website named MyRide.com, in second quarter of 2007, which will provide single step solutions for consumers who need automotive content on internet, related to purchase and ownership lifecycle.
Autobytel has teamed up with AOL, which will make the Autobytel network, an exclusive fulfillment channel for consumers who look to AOL Autos every month for assistance in obtaining new vehicle price quotes from their local dealers. With a pipeline of initiatives already being announced, which are likely to show results during second half of 2007, investors should feel free to take an exposure in this stock with a long-term objective.