Advertisement
YOU ARE HERE: LAT HomeCollections

Technology | TECHNOLOGY BRIEFS

AutoNation, AOL Hook Up

May 16, 2000|Bloomberg News

AutoNation Inc., the largest U.S. vehicle retailer, and America Online Inc. formed a three-year alliance for online sales of cars and trucks. Terms were not disclosed. AutoNation also said it bought Cendant Corp.'s AutoVantage car-buying service for an undisclosed sum, adding agreements with 900 more dealers to fulfill purchase orders in cities around the country. Fort Lauderdale, Fla.-based AutoNation's online unit sold $1 billion in vehicles last year. The AOL pact lets members of the No. 1 online service use AOL AutosDirect to research or buy new or used vehicles. AutoNation and its licensees will be the exclusive retailers for vehicles ordered through AutosDirect. The service debuts in July. AutoNation closed up 19 cents at $10.13, while AOL rose $3.06 to close at $58.44, both on the NYSE.

Advertisement
Los Angeles Times Articles
|
|
|