The company plans to use the funds to expand internationally.
In an arrangement that will extend their reach to a combined 12 million online car shoppers, AutoTrader.com and Edmunds.com are offering direct links on their respective sites that give car buyers more options to find and price used cars.
Two of the leading providers of online automotive retailing information are teaming up to enhance their competitive standing with dealers and Internet car buyers.
In a marketing arrangement that will extend their reach to a combined 12 million online car shoppers, AutoTrader.com, an Internet auto classifieds marketplace and consumer research site, and Edmunds.com, a third-party vehicle research and valuation provider, are now offering direct links on their respective sites that give car buyers more options to find and price used cars.
With the new Internet marketing relationship, shoppers now doing their research on Edmunds.com can click directly over to AutoTrader.com and immediately search an inventory of 2.5 million used vehicles. Visitors to AutoTrader.com also now have access to Edmunds.com’s True Market Value Used Vehicle Appraiser, an interactive questionnaire and database that provides general estimates on the value of used card trade-ins.
“Our relationship with Edmunds.com will help consumers go from shopping to buying faster and more easily, and give dealers who advertise with us access to an audience of 12.3 million in-market car shoppers,” says Chip Perry, president and chief executive officer of AutoTrader.com.
The marketing deal between the two companies is more than just an agreement to link web sites. Getting online price quotes and vehicle appraisal estimates are research and shopping applications more Internet car buyers are expecting from dealers and third-party research sites.
By combining their respective web audiences, AutoTrader and Edmunds expect to create more traffic and web sales leads for dealers. The companies also believe the web information sharing agreement will extend their brand awareness to more dealers and car buyers. AutoTrader.com, for example, has vehicle listings from 40,000 dealers and 250,000 private owners, which attract more than 8 million unique visitors every month. Edmunds has been selected by online car buyers as the "most useful web site," according to J.D. Power and Associates.