German Tire Company Invests in Autobytel

Autobytel.com Inc. said German tire company Continental AG has agreed to become an investor in some of the online car-shopping service’s European units.

The companies also plan to develop an online service that would allow consumers to research and shop for tires, Irvine-based Autobytel said in a press release.

Under the arrangement, Continental will become a shareholder in the Autobytel Europe and Autobytel Sweden units as well as become the lead partner in forming Autobytel Germany.

Financial details were not disclosed.