ATLANTA (January 5, 2009) – Cox Auto Trader, parent company to AutoTrader.com and Cox AutoTrader/AutoMart, is making strategic changes to its business in an effort to better address the needs of both consumers and commercial advertising customers through its online automotive advertising business led by AutoTrader.com.
Cox AutoTrader/AutoMart, the print-based subsidiary of Cox Auto Trader, will cease publishing AutoMart and AutoExtra magazines. AutoTrader and Truck Trader magazines will continue to be printed. These magazines will continue to be distributed as before, along with other Trader titles owned by Dominion Enterprises.
The AutoTrader.com organization, based in Atlanta, will assume responsibility for AutoMart.com, AutoExtra.com and AutoTraderLatino.com (formerly known as AutoMercado.com). AutoTrader Classics and AutoTrader Latino magazines will continue as part of the AutoTrader.com suite of products and services.
“Consolidating the majority of our resources into a single AutoTrader.com organization will facilitate long-term growth and also help us maintain a singular focus on serving our consumers and advertisers,” said Sandy Schwartz, president of Cox Auto Trader.
As part of the consolidation process, some Cox AutoTrader/AutoMart employees will be reassigned as AutoTrader.com employees. Some positions in the Cox
AutoTrader/AutoMart organization will be eliminated. Impacted employees who are eligible will be offered generous severance packages. The print distribution system for the Trader family of paid magazine titles will not be affected.
The ongoing shift in emphasis to an online automotive advertising business strategy is in response to the decline in demand for print-based automotive advertising products. As more automobile dealers and private sellers shift their advertising from print to the Web to take advantage of the efficiency and reach that online platforms offer, Cox Auto Trader is adjusting its business strategy accordingly.
“We are ready for these strategic moves and look forward to supporting the needs of all of our consumers and advertisers,” said Chip Perry, president and CEO of AutoTrader.com.
AutoTrader.com is the industry leader for classified automotive advertising in the United States. Expanding its offerings allows AutoTrader.com to provide product and service combinations that no competitor can match, which solidifies its position as the most effective and efficient way to buy, sell or research a vehicle.
About Cox Auto Trader
Cox Auto Trader is one of the world’s leading providers of online and print automotive consumer information. Operating business units include AutoTrader.com and Cox
AutoTrader/AutoMart. AutoTrader.com is the Internet’s leading auto classifieds marketplace and consumer information web site with more than 3 million vehicle listings
and over 13 million qualified buyers each month. Cox AutoTrader/AutoMart consists of AutoTrader Publishing, a leading producer of classified automotive advertising publications with nearly 350 automobile and light truck titles and a total circulation of 3.5 million per week; and AutoMart, the leading provider of print and online classified automotive advertising for dealer customers with more than a million used car Internet listings from dealers combined with print publications in 75 separate markets. Cox Auto Trader is a subsidiary of Atlanta-based Cox Enterprises, Inc.
AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet’s leading auto classifieds marketplace and consumer information website. AutoTrader.com aggregates in a single location more than 3.5 million new, used and certified pre-owned vehicle listings from 40,000 dealers and 250,000 private owners and the site attracts more than 14 million unique monthly visitors. Through innovative merchandising functionality such as multiple photos, videos, detailed descriptions and comprehensive research and compare tools, AutoTrader.com unites new and used car buyers and sellers online, improving the way people research, locate and advertise vehicles. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. The venture capital firm Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.
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DealerRefresh creates new forum for car dealers.
DealerRefresh creates new forum for car dealers and vendors to provide reciprocal marketing, business and networking support. DealerRefresh is the main source for automotive internet sales professionals looking for a higher level of online information.
Introducing the ALL NEW DealerRefresh Technology Forum.
The DealerRefresh forum is for discussing the different technologies we all use at the dealership – a way to talk about best practices, learn about other products, and find solutions to problems we may be having while driving sales.
I think you’ll be impressed with all the hard work we have put into the forum. We already have several threads and posts/comments in several of the different forums for you to read and comment on. These forums include:
Read the Official Press Release