Press Release
FOR IMMEDIATE RELEASE
Contact:
Chintan Talati and Jeannine Fallon
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
pr@edmunds.com
Edmunds' Inside Line Launches CarStockExchange.com Automotive Prediction Game
Prizes to be Awarded to Monthly Winners; Data to be Collected for the Industry
SANTA MONICA, Calif. — March 4, 2008 — Inside Line, Edmunds' high-speed online car magazine, today announced the launch of a compelling new interactive feature: Car Stock Exchange (CSX).
Players simply sign up for a free CSX account, receive $1,000,000 in virtual CSX money, then "purchase" stocks for car models based on expectations of how well the cars will sell during their first six months at dealerships. Players are encouraged to buy and sell stocks as they hear auto industry news and read reviews of the vehicles that shift their expectations. Edmunds' CarSpace.com also features online discussions relevant to the game.
If a player's predictions match real-world sales, the player's net worth in the game (and reputation as a car buff) will grow. Monthly prizes are awarded to players with the biggest gains.
As players enjoy the fun and exciting elements of the game, Edmunds will collect data about players' decisions. The company's statisticians will analyze the data and deliver the analysis to the auto industry as part of Edmunds' ongoing efforts to help automakers make smarter decisions in their interactions with consumers.
"The car enthusiasts who visit Inside Line are very knowledgeable about the auto industry and have a lot of influence over their friends and family members' car purchases," commented Edmunds CEO Jeremy Anwyl. "Through this game, we have a unique and valuable opportunity to capture the opinions of those individuals and track changes over time."
"If CSX can attract enough players who know cars well, it may well become the best forecast of new car model success," remarked Robin Hanson, George Mason University's Associate Professor of Economics, who served as a consultant for the project.
Anwyl points to New Yorker columnist James Surowiecki's book The Wisdom of Crowds, as well as other online prediction games The Hollywood Stock Exchange, The Industry Standard, Intrade, The simExchange and The Washington Stock Exchange, as references in the development of the game, which began approximately one year ago.
Consensus Point provided customized software for CSX.
About Edmunds.com, Inc.
Edmunds.com, Inc. publishes three Web sites that empower, engage and educate automotive consumers and enthusiasts. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value® , is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in January 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in February 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.
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