Autobytel.com (Nasdaq: ABTL), the global leader in automotive e-commerce, today announced the formation ofAutobytel Spain in a partnership between its subsidiary, Autobytel.Europe andSWS Capital, a company dedicated to the development of Spanish telecom ande-commerce companies.
SWS’ shareholders include Ruben Lerner who publishesthe #1 rated Spanish auto-focused magazine, Motor16.
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Autobytel Spain is set to launch within the next six months and will alsobe featured within SWS Motor, an automotive portal dedicated to creating apositive car-buying experience for consumers.
“Autobytel.com’s rapid global expansion is a testament to the power of theInternet marketplace throughout the world,” said Mark Lorimer, Autobytel.com’sPresident and CEO.
“We look forward to working with SWS Capital to bring thetrademark Autobytel.com painless car-buying experience to consumers throughout Spain.”
1999 was a record year for car sales in Spain and, currently, 20% ofSpanish car buyers are using the Internet as part of their car shoppingprocess.
“Autobytel.com has used the Internet to truly simplify the car-buying andselling processes,” said Jose Pablo Contreras, General Manager of SWS Motor.”We are proud to partner with the undisputed leader in automotive e-commerce.”
SWS Capital is comprised of SWS Motor, SWS Telco and SWS Log (Logistics),three vertical Internet portals that utilize a common technology platform andmanagement system. The company was established in November 1999 and hasalliances with leading companies in their markets.
