Dealertrack Sees Higher Demand in Used Cars and CRM in Q1 Earnings, from Autofinance News.
Overall results were not as robust as expected for Dealertrack Technologies Inc. in the first quarter, despite record revenues and higher demand from used car dealers, according to Raj Sundaram, co-president.
“We had expected stronger growth and a higher mix of subprime volume which did not materialize,” Sundaram told Auto Finance News.
Dealertrack, a web-based solutions provider based in Lake Success, N.Y., had 59 % year-over-year revenue growth, due in part to acquisitions. That was the 21st consecutive quarterly increase, the company said in a conference call on Friday, May 8.
The company said industry used vehicle sales were higher on a year-over-year basis. Citing data from CNW Marketing, Dealertrack said units sold were at 2,743,000 in the first quarter, up 2.5 % from a year ago.