AutoConnect Drives Into @Home
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According to the terms of the agreement, AutoConnect will be the anchor tenant in the automotive section of the @Home's Shopping Channel. Financial terms were not disclosed, and an official launch date was not announced.
AutoConnect's features include an inventory of thousands of pre-owned cars and trucks, as well as auto accessories, financing, insurance, and consumer information. It also retails other auto related products and services.
@Home's high-speed network is up to 100 times faster than traditional Internet connections. The company said its deal with AutoConnect allows it to expand its online capabilities with features unique to the broadband environment.
The alliance between the two firms comes as the online auto industry grows at a rapid pace. J.D. Powers & Associates estimates that approximately 16 percent of all new car and truck buyers used the Internet as part of their shopping process in 1997, up from 10 percent in 1996. By the year 2000, that figure is estimated to grow to 21 percent.