Thrifty Car Sales and Reynolds and Reynolds Enter Into Strategic Partnership
DAYTON, Ohio--Jan. 21, 2002--Thrifty Car Sales, Inc., the nationally franchised retail used car sales brand and a unit of the Dollar Thrifty Automotive Group , and The Reynolds and Reynolds Company today announced a strategic partnership recognizing Reynolds as the preferred provider of dealership management systems and related training for the nationwide Thrifty franchise dealer network.
As part of the three-year agreement, Thrifty will endorse Reynolds' industry-leading ERA(R) dealership management system as well as complete installation, training and support of the system and its numerous components.
"Our endorsement of Reynolds' ERA system is just one example of how we intend to ensure that Thrifty Car Sales dealers have value-priced access to best-in-class tools and programs that we believe can help them sell more cars, and sell them more profitably," said Jay Betz, president of Thrifty Car Sales, Inc. "With its deep industry knowledge and experience, plus its expertise in working with large organizations, Reynolds was an obvious choice for Thrifty."
Jim Holder, staff vice president of Thrifty Car Sales, agreed. "Our brand and business model mitigate the primary concerns consumers have when buying a used vehicle. We believe Reynolds' ERA system can strengthen our dealers' competitive edge by helping increase customer retention and owner loyalty while improving dealership operations.
"The Reynolds' system will allow our dealers to seamlessly manage their operations, and provides a platform that can integrate with other technology solutions," added Holder.
According to Scott Schafer, senior vice president of Reynolds, "This agreement and strategic partnership is an exciting endeavor into the used car retail space. Reynolds is widely known for its expertise in franchised new car sales, and this agreement will expand that knowledge to the adjacent used car market."
Schafer continued, "With Thrifty's powerful business model and its impressive brand, Reynolds' solutions and services are a natural fit. Looking at the flexibility and integration capabilities of our ERA system, as well as our leadership position in auto retailing technology, service, support and training, we believe this partnership will help Thrifty Car Sales dealers meet and exceed their business goals."
Reynolds' ERA system, which was previewed at the Thrifty Car Sales Dealer Meeting in November 2001, was well received, with installations already underway in select dealerships.
Thrifty Car Sales, with its affiliate Thrifty Car Rental, are subsidiaries of Thrifty, Inc. Headquartered in Tulsa, Okla., Thrifty Car Sales operates a franchised retail used car sales network that was launched in 1999, with plans for as many as 300 U.S. locations by 2005. Thrifty Car Rental is one of the world's largest international car rental franchise networks, consisting of over 1,300 locations in 61 countries around the world. Thrifty, Inc. is a subsidiary of Dollar Thrifty Automotive Group, Inc. . For more information about Thrifty Car Sales, visit www.thriftycarsales.com.
Reynolds and Reynolds, headquartered in Dayton, Ohio is the leading provider of integrated information management solutions to the automotive retailing marketplace. The company's services include a full range of retail and enterprise management systems, networking and support, e-business applications, Web services, learning and consulting services, customer relationship management solutions, document management and leasing services. To find out more about the company, its vision, products and services, visit www.reyrey.com.
Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations, estimates, forecasts and projections of future company or industry performance based on management's judgment, beliefs, current trends and market conditions. Forward-looking statements made or to be made by or on behalf of the company may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. See also the discussion of factors that may affect future results contained in the Reynolds and Reynolds Current Report on Form 8-K filed with the SEC on August 7, 2001, which is incorporated herein by reference. Dollar Thrifty Automotive Group, Inc. and Reynolds and Reynolds undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
