Priceline.com Releases Top 10 New Car Models Sold in December Through Priceline.com
NORWALK, Conn.--(BUSINESS WIRE)--Jan. 7 , 2000--Priceline.com (Nasdaq: PCLN), the Internet pricing system that enables consumers to save money by naming their own price for a variety of travel, automotive and personal finance products, announced today the top-ten selling vehicles purchased through priceline.com in December.
Honda continued its impressive showing capturing the top spot for the third straight month, and placing three vehicles in the top ten. The Honda Odyssey was the best-selling vehicle through priceline.com (www.priceline.com) for the second time in the past three months. Overall, Honda placed three vehicles on the top ten list, as did Toyota.
The December priceline.com Top 10 Cars Sold -0-
December November Ranking Ranking Honda Odyssey 1 3 Honda Accord 2 2 Toyota Sienna 3 6 Honda Civic 4 1 Toyota 4Runner 5 NN Toyota Camry 6 8 Ford Explorer 7 NN Chevrolet Suburban 8 NN Ford Focus 9 NN Volkswagen Jetta 10 NN NN - did not make November list. *T "The success of the Honda Odyssey illustrates one of the
strengths of priceline.com's car service," said Maryann Keller, president of priceline.com's automotive services group. "When a car is in great demand and is hard to find, priceline.com can shop a customer's offer to multiple dealers in a region, which increases the chance that the customer can find his or her car, and at the price they want to pay."
Adds Keller: "This month we welcome the Chevrolet Suburban to our list. Customers have quickly accepted the new design from GM, placing the all new Suburban in our top ten list for the first time."
Priceline.com is the patented Internet pricing system that enables consumers to achieve significant savings by naming their own price for goods and services. Priceline.com takes consumer offers and then presents them to sellers who can fill as much of that guaranteed demand as they wish at price points determined by buyers.
Priceline.com's "virtual" business model allows for rapid scaling using the Internet. Because the Company electronically collects consumer demand, it can fill this demand directly with sellers or by using proprietary databases. Priceline.com does not maintain or warehouse inventories in any of its product lines. Priceline.com is currently selling multiple services to its sellers across three distinct product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars, a personal finance service that offers home mortgages, refinancing and home equity loans, and an automotive service that offers new cars. Recently, priceline.com announced that it would also offer a name-your-own-price service for long distance calling.
Priceline.com also licensed its business model to a privately owned company, Priceline WebHouse Club, which offers name-your-own-price retail goods, beginning with groceries in the New York metro and greater Philadelphia areas. In return for the WebHouse Club license, priceline.com has received warrants allowing it to purchase a majority equity stake in the WebHouse Club under certain contingent conditions. Prior to the exercise of this warrant, the results of WebHouse Club operations will not be included in priceline.com's financial statements.
This press release may contain forward-looking statements that are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions including, without limitation, "may," "will," "believes," "should," "could," "hope," "expects," "expected," "does not currently expect," "anticipates," "predicts," "potential," and "forecast," reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies and other factors described in the Companies' filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. The Companies undertake no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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