AutoTrader.com Among Top 10 Websites New-Car Buyers Are Visiting: Power Study
AutoTrader.com, an Internet destination and marketplace for buyers and sellers of used vehicles, was ranked sixth out of 60 Websites most visited by new-car buyers according to a recent J.D. Power study released in September.
The study of 10,000 new-car shoppers rated automotive Websites based on the volume of visits. AutoTrader.com, a site for used-car transactions, was named among the top 10 percent of new-car sites, being one of only two resources that actually offer online car shopping services.
According to the report, three of the top four sites were "research only" sites with the majority of the 60 sites consisting of independent vehicle information and individual manufacturer-sponsored Websites. AutoTrader.com is also the only site mentioned in the report that primarily focuses on used-vehicle buyers, yet attracts high volumes of both new- and used-car shoppers.
According to Chip Perry, president and CEO of AutoTrader.com, many car buyers are opting for higher quality used cars versus buying new cars of equal value. Before committing to any buying decisions, consumers are weighing the options available and seeking out the best deal. Many of the new-car buyers also have vehicles that they need to dispose of and therefore utilize AutoTrader.com to find the market value of their used car from the database of 1.5 million used vehicles. They're also able to post their car for sale on the site where millions of potential buyers will have access to their information.
"We're seeing a brand new breed of car shoppers, consumes who are more educated than traditional buyers," Perry said. "Potential new-car buyers who are shopping for their vehicles seek out numerous alternatives before actually buying a brand new car."
According to J.D. Power and Associates, about 54 percent of new-vehicle buyers in 1999 used the Internet to help them negotiate vehicle prices with dealers, allowing consumers to enter dealerships fully informed.
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