DealerTrack Technologies Inc (NASDAQ:TRAK) has expanded its efforts to penetrate the tire business in China. The company had reached an agreement with Michelin China, to deploy its tire and fast-fit business based on TRAK’s incadea. fastfit tire business management solution. The system would be in use across 2,000 TYREPLUS centers across the country, by the year 2018.
Incadea builds upon the dealer management system, which was in use in the region. The new fastfit solution aims to enhance the operational efficiency of tire retailers across the country. The system is already in use in more than 26 countries and has over 6,000 users to its name. The director of Michelin China, Pascal Roche, stated that the solution is a perfect fit to the requirements of retailers to capture a larger market in the coming years.
Furthermore, the company also announced that it would be represented by Ali Mendiola at the “19th Digital Dealer Conference” in Las Vegas, due to be held next month. Mr. Mendiola will host a session on how dealers can boost customer satisfaction, so as to increase their sales and profits. She will further discuss the role of interactive digital buying experience in this regard. She was of the opinion that buyers want low-stress shopping experiences, made possible by the use of technology. Consequently, the dealers who do not embrace digitalization are sure to be left behind. She also hinted that her presentation will look into in-store menu selling and e-contracting for better results.
Additionally, Cox Automotive Inc. has decided to extend its merger offer to DealerTrack until September 30, 12:00 midnight NYC time. As per the details of the offer, Cox has decided to purchase 100% of TRAK shares for a price of $63.25 per share. The company has even agreed to pay the amount fully in cash.
DealerTrack Technologies Inc (NASDAQ:TRAK) was trading at a share price of $62.58, during the September 24 session at 10:15 AM. The company had already traded 223,727 shares since the start of the session, only to decline by 0.21%.