Web firm posts profit in 1st year
SCOTTSDALE, Ariz. - AutoTradeCenter.com Inc. announced that net income for its first full year of operation was $115,241 or $0.01 per share based on revenues of $97,665,410. The company's fiscal year ended March 31, 1999. AutoTradeCenter.com is an Internet-based automotive wholesale and remarketing company. The company began operation in July 1997.
TOYOTA CERTIFIED RECORD
TORRANCE, Calif. - For the first time, Toyota dealers sold more than 11,000 certified used vehicles in one month. Toyota Motor Sales U.S.A. Inc. said its dealers retailed 11,474 Toyota Certified used vehicles in May, 34.4 percent more than they retailed in May 1998. That makes May 1999 the company's best-ever month in Toyota Certified Used Vehicle sales history. Toyota dealers sold 47,012 certified units from January through May, 28.8 percent more than during the same period last year.
MANHEIM EXPANDS
ATLANTA - Manheim Auctions is entering two new markets with the acquisition of Frankenthal Group LLC's auctions. Frankenthal Group included the 50-acre, six-lane, Louisville Auto Auction in Clarksville, Ind., and the 53-acre, four-lane Cincinnati Auto Auction in Hamilton, Ohio. Manheim said it will add services at its newly acquired auctions, including financing and free ads on its AutoConnect used-vehicle Web site. The acquisition took place June 18; the price was not disclosed.
MANHEIM'S WEB SALES RISE
ATLANTA - Manheim Online, the e-commerce arm of Manheim Auctions, said its CyberLots sales for the first five months of 1999 exceeded 14,000 units valued at $219 million. That tops the online service's entire 1998 sales of 12,440 vehicles valued at $217 million. CyberLots is an Internet-based listing of used vehicles offered to dealers by manufacturers and financial and leasing institutions.
