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.
Both companies fall under the control of Cox Enterprises, a $4.9 billion
media company based in Atlanta.
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.