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ELECTRONIC COMMERCE Web Fuels Few Auto Purchases But survivors say shakeout among car-sale sites puts them in the fast lane.(INTERNET & TECHNOLOGY)
Byline: Pete Barlas
Many a company has crashed in a bid to sell cars online.
In the last year alone, five auto-related Web operations ran out of gas and two others were bought by rivals.
So thorough has been the dismantling of the online car-sale field that even some of its survivors are among its biggest critics.
"Not a single auto site has caught fire," said Bob Brisco, chief executive of CarsDirect.com. "It's an industry that got very overheated based on a lot of flawed assumptions about what it took to be successful."
Online auto-sale sites crashed after getting caught in the gold rush frenzy of trying to make a quick buck, says Jon Christopher, CEO of InvoiceDealers.com.
"Some of these companies were spending millions of dollars on Super Bowl ads even though they had business models that were unsustainable and management that didn't understand the business," Christopher said.
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- Press release article from: PR Newswire November 6, 2000 700+ words
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- Magazine article from: Advertising Age Halliday, Jean August 20, 2001 700+ words
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