FOR IMMEDIATE RELEASE
Automotive Lease Guide (ALG) and Edmunds.com Collaborate to Provide Consumers "Lease Versus Buy" Decision Tools
Santa Monica, CA - May 23, 2002 - Automotive Lease Guide (ALG), the benchmark for residual values in the United States and Canada for over 35 years, and Edmunds.com, the Web's leading consumer resource for unbiased automotive information, today announced a collaboration that will benefit consumers, financial institutions and the automotive industry.
ALG has agreed to supply lease residual values for inclusion in Edmunds.com's Financial Calculator Suite, a set of tools launching on the Edmunds.com Web site on June 12 to help consumers decide how to finance their next vehicle.
"The automotive leasing industry regards ALG as the standard for residuals, so we are thrilled we will be able to incorporate their information into our useful consumer tools," said Bob Kurilko, Vice President of Product Development and Marketing for Edmunds.com.
In addition, Edmunds will provide ALG with True Market Value® (TMV®) prices, which ALG will incorporate, along with other automotive data, into their processes to forecast residual values. Financial institutions use ALG residuals as the benchmark to set their lease rates.
"The new vehicle transaction pricing environment is extremely challenging to predict and having access to Edmunds' TMV pricing will be valuable," said Raj Sundaram President of ALG.
As a result of this collaboration, ALG joins a long list of respected organizations, including America Online, American Broadcasting Companies (ABC), Automotive News, Excite.com, iWon.com, Morgan Stanley, USA Today, The Wall Street Journal and Yahoo!, who use Edmunds.com data to enhance their automotive offerings.
About Automotive Lease Guide
Automotive Lease Guide, a privately held company in Santa Barbara, California, has been the benchmark for residual values in the United States and Canada for over 35 years. ALG's objective is to provide residual values, analytical data products and consultation to the automotive Industry.
About Edmunds.com, Inc.
Headquartered in Santa Monica, CA, Edmunds.com is the Internet's pioneer and leader in providing free, third party automotive information, tools and services for consumers. Edmunds.com empowers, educates, and engages visitors by providing them with straightforward information on all aspects of buying, selling, and owning a vehicle. Edmunds.com True Market Value® products inform the general public of the actual transaction prices of cars and trucks while Edmunds' PowershopperSM offers car shoppers the opportunity to research and pursue online and offline purchase options in an informative, consumer-friendly environment. Visitors are also provided extensive automobile reviews, current incentives and rebates, consumer advice, safety information, auto show highlights and the Town Hall automotive community. Many of these resources are powered by Edmunds Data Services, which provides a comprehensive automotive data set to the Edmunds.com Web site and licenses its data, content and tools to third parties. Edmunds.com was named "best car research" site by Forbes ASAP, is viewed by consumers as the "most useful Web site," according to the J.D. Power and Associates 2001 New Autoshopper.com StudySM*, was ranked number one in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal, and was named as one of Yahoo! Internet Life's 50 Most Incredibly Useful Sites and one of Money's 50 Most Useful Financial Web sites.
*J.D. Power and Associates is not affiliated with Edmunds.com, Inc. and does not endorse Edmunds.com or any other Web sites.