FOR IMMEDIATE RELEASE:
Cars.com Teams with Vincentric to Offer New Car Shoppers Valuable Pricing and Ownership Data
BLOOMFIELD HILLS, Michigan – April 2, 2007 – Vincentric, a leading automotive data compilation and analysis firm, announced today that Cars.com has enhanced its industry leading web site with data from Vincentric. The site launched two new features designed to prepare car shoppers for a new vehicle purchase, Smart Target Price and 5-Year Ownership Costs. Both offerings are powered by Vincentric.
“Our partnership with Vincentric has allowed Cars.com to further enhance the new car shopping experience on our site with high quality, timely, and accurate data that allows us to offer shoppers trusted information to support their new car buying decisions,” stated Bill Swislow, Cars.com senior vice president of product.
Cars.com is a third party online automotive shopping destination that has more than 8 million unique visitors a month, and lists more than 2 million vehicles from 13,000 dealer customers. The site allows visitors to search both new and used cars and offers consumers the ability to search for cars based off various lifestyle needs through its new Lifestyle Search function. In addition to new and used vehicle search, Cars.com has comprehensive new car reviews, original editorial content and research information for consumers.
Each month Vincentric analyzes over 2,000 different vehicle configurations for each new car model year and computes the cost to own and operate each vehicle. Eight different cost factors are calculated to determine overall cost of ownership: depreciation, fuel, insurance, opportunity cost, financing, maintenance, taxes and state fees, and repairs. The resulting data allows users to understand the complete cost of owning and operating a vehicle.
In addition to measuring cost-of-ownership based on consumer use, Vincentric also compiles these lifecycle costs for business use. This enables automotive fleet operators to invest their funds in vehicles meeting internal Return on Investment (ROI) thresholds as well as their specific size and performance needs.
For further information on the various automotive data services offered by Vincentric, visit www.vincentric.com.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Using Vinbase™, its comprehensive, proprietary cost-of-ownership database, the company measures and analyzes the overall cost of owning and operating vehicles and its impact on the value provided to buyers. Vincentric data is used by organizations such as Yahoo! Autos, Cars.com, Kiplinger’s Personal Finance, Business Fleet Magazine and Fleet-Central.com as a means of providing automotive insight to their clientele. Vincentric, LLC, is a privately held automotive data compilation and analysis firm headquartered in Bloomfield Hills, Michigan.
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