Despite the global financial downturn, automotive dealers in the US have upped their spending on Internet marketing which is reflected in the second quarter performance of Logix Microsystems, a software product company that provides automotive e-retailing solutions.
In the quarter ended September 30, 2008, the Bangalore-headquartered company has reported 11.58 increase in its net profit to Rs 3.07 crore, when compared with the corresponding quarter in the previous fiscal. The revenue of the company during the quarter grew by 6 per cent to Rs 12.49 crore as compared to same quarter in the previous year.
Sanjay Soni, MD, Logix Microsystems said, "The results are yet another affirmation of the strong reputation of Logix products, platforms, services, and solutions in the US automotive retail segment."
The Company has added 93 clients in the quarter including Mission Imports, Champion Auto Group, Automotive Services Network and Thomason Auto Group, which is the highest increase in client acquisition by the company since its Izmocars product range was launched in the US market.
According to a survey conducted in the US and commissioned by Autobytel in September this year, 91 per cent of automotive dealers are either increasing or standing firm on their Internet marketing spend, despite tighter budgets.
