CarsDirect Celebrates 10 Years of Selling Cars Online

A decade and millions of customers later, company’s top priorities are still pricing transparency and customer service

LOS ANGELES (May 18, 2009) – CarsDirect, a leading online automotive shopping service and research portal, this week celebrates its tenth year in operation. Launched in May of 1999, CarsDirect pioneered the concept of online car buying and has grown to become American consumers’ first choice for online vehicle purchases.

CarsDirect changed the online auto industry by being the first company to sell vehicles online directly to consumers at an up-front, guaranteed price. (At the time, all other competitors referred Internet shoppers to a dealer to complete the transaction.) Ten years later, consumers can still visit CarsDirect, access guaranteed CarsDirect pricing information free of charge and either purchase a vehicle online or be referred to one of CarsDirect’s dealer partners.   

Among the highlights from ten years in the business:

More than 10 million customers served, through a combination of customers passed along to CarsDirect dealer partners after requesting to purchase a vehicle through a reputable dealer (representing hundreds of thousands of auto sales for dealers), and customers who chose to purchase directly through our CarsDirect online brokerage service.

Numerous consumer and industry awards and recognitions, including being named one of the “50 Best Websites in the World” by TIME in 2002, a “Top Site For Buying or Selling Anything” by PC World in 2008.

1999: CarsDirect goes live, launched from business incubator Idealab with the largest round of venture funding in history at the time.

2002: The launch of the CarsDirect Used Channel brings CarsDirect’s expertise to consumers seeking the best values in the used car market.

2007: The launch of the CarsDirect Automotive Network expands the site’s reach to include one of the world’s largest collections of car enthusiast websites, including AudiWorld.com, ClubLexus.com, Ford-Trucks.com, GreenHybrid.com, and ScionLife.com.

2008: The CarsDirect Pricing Insider Blog becomes one of the first industry blogs dedicated exclusively to coverage of the latest available rebates, incentives, and sales promotions on new cars

“Ten years as a successful online business is a rare milestone, and one that we’re extremely proud of,” said Ken Potter, vice president and general manager of automotive sales and industry relations at CarsDirect. “Our top priority is our customers. We’ve put a lot of resources into upholding our commitment to superior customer service, up-front pricing, and ease of use – and we hope to continue doing so for decades to come.”

About CarsDirect
CarsDirect (www.carsdirect.com) is a leading online automotive shopping service and research portal, providing new and used automobiles and related products and services, such as loan and lease financing. CarsDirect is a division of Los Angeles-based Internet Brands (www.internetbrands.com), a leading operator of consumer community and e-commerce websites.