Priceline expands into used car sales
Already a major revenue stream for eBay, Priceline has announced it is now moving into the used vehicle sales business.
Priceline, which already operates Priceline Autos, enabling people to name their own prices for new cars, said the expansion into used cars will open a new revenue stream. Under the arrangement with Autobytel, Priceline will receive a lead generation fee when it refers car buyers to Autobytel.
The used car service will help shoppers find low-priced cars from one of Autobytel's thousands of member dealers, or shop for a pre-owned vehicle in Autobytel's customer classifieds.
Autobytel, which operates a number of car buying Web sites including Autoweb.com,Carsmart.com and Autosite.com, generates about 4 percent of all new vehicle sales in the United States.