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Manhattan Projects Launches Dealer Auction Website for New Cars

19 June 2000

Innovative Automotive Technology Provider Offers Auto Dealers Fast, Inexpensive Way to Sell Aged Inventory, Increase Profits

     
    TORRANCE, Calif. - Manhattan Projects LLC today announced the launch of 
NewCarDepot.com, an innovative new car auction site designed to help dealers 
sell new cars that have been on their lots 60 days or over.  NewCarDepot.com 
gives dealers a fast, inexpensive and automated way to sell their aged inventory 
and offers consumers the chance to bid on thousands of new cars online.

    NewCarDepot.com also helps online shoppers save money.  NewCarDepot's
auction format and extensive inventory allow consumers to bid on thousands of
new cars at hundreds of dealerships throughout the nation.  Consumers also get
access to better-priced cars, as automotive retailers are motivated to sell
cars that have been sitting on the lot.

    "As an auto dealer myself, the need to create a win-win situation for both
dealers and consumers was clear," said Mike Sage, President and CEO of
Manhattan Projects.  "NewCarDepot.com gives shoppers the chance to get a great
deal on a new car, while dealers can profitably sell their aged inventory with
little effort or expense."

    Consumers can search NewCarDepot.com by auto manufacturer, make, model and
state, then bid on the desired vehicle.  If the dealer's minimum price is met,
the auction is awarded to the highest bidder, and the dealer and consumer
complete the transaction.

    NewCarDepot.com is completely automated.  It works by synchronizing the
inventory management systems of its hundreds of automotive retailers with
NewCarDepot's powerful database.  Using the company's patented extraction
technology, NewCarDepot.com servers dial into the Dealer Management System of
each retailer to find and upload their aged inventory.  NewCarDepot then
assigns pricing based on pre-determined criteria provided by the dealer,
matches up manufacturer's stock photos with autos, and posts the cars on
NewCarDepot.com's central auction server.

    Dealers pay NewCarDepot.com approximately $200 per completed transaction.
There are no sign up, monthly, referral or other fees, and dealers also save
money on commission incentives and loss leader advertising.

    By using NewCarDepot solely as a service provider, dealers can also create
auction sections on their own sites without investing heavily in Web site
development.

    About Manhattan Projects

    Founded in 1999 and led by auto industry professionals, Manhattan
Projects, LLC is a software development company creating innovative technology
solutions for the automotive retail industry.  Manhattan Projects' customer
relationship management (CRM) solutions, which include ServiceMan(TM), the
revolutionary handheld wireless tool that accesses dealer DMS and DCS systems
to build repair orders right on the service drive, and RepairTalk(TM), an
interactive voice-response server for managing customer calls and repair
orders, are currently in use at leading North American auto dealerships.