Monday, Nov. 26, 2007, 07:00 PM UPDATED 11:59 AMBy Nick Zulovich
LAKE SUCCESS, N.Y. — DealerTrack announced Monday that the number of active financing sources connected to its network has reached 450.
In addition to the 450 financing sources on the DealerTrack network, the company indicated that about 90 percent of franchised dealers in the U.S. are active users.
"We are pleased to arrive at this milestone, which reflects a remarkable 48-percent increase for the year-to-date in the number of financing sources on our network," explained Mark O'Neil, chairman and chief executive officer of DealerTrack.
"Our growth rate has accelerated this year as word has spread through the lender community about the efficiency and convenience of the DealerTrack network. More and more financing sources perceive joining our network as a competitive advantage that they can leverage to grow their automotive business," he added.