Auto-By-Tel Delays Its IPO

IRVINE — Citing a tumbling stock market that has weakened prices for most technology stocks, Internet car dealer Auto-By-Tel Corp. said Wednesday it will postpone its planned initial public stock offering.

Peter R. Ellis, Auto-By-Tel’s president and chief executive officer, said the Irvine-based company has not set a new offering date and intends to wait “until valuations come back in line with company and industry fundamentals.”