Autobytel already has operations in the United States, Canada, UK, Japan and Sweden, and will soon open in the Netherlands, Norway, Finland and Denmark. Mark Lorimer, president and chief executive officer of Autobytel, said: 'Europe is the perfect place for Autobytel right now - better than the US when we started. Europeans have begun a revolution of rising expectations which is already changing the way business is done. E-commerce will accelerate those changes which, perhaps, will be the most profound in the car business.'
The new service will not offer cross-border car buying services, with Autobytel stressing that it is a mass market, not a niche player that needs the support of local dealerships. Inchcape, owner of Autobytel UK, will take a 7.3% stake in Autobytel.Europe for a $10 million investment. The majority shareholding will remain with Autobytel.
- To access the Autobytel site click on the Buyers' guide menu button (left) and go to the Vehicle location systems section.