Many Internet Car Price Sites Still Inaccurate: CNW Study
The U.S. car industry continues to be plagued by Internet price and orderability inaccuracies, according to CNW Marketing Research's second annual "Online Vehicle-Pricing Accuracy Study."
Consumers who rely on the Internet for dealer invoice and Manufacturer's Suggested Retail Price (MSRP) pricing data are being led astray by as much as hundreds of dollars, according to the Bandon, Ore.-based automotive research firm.
In addition, the 2001 study shows many instances of a consumer's ideal vehicle not being "buildable" on some sites even though the configuration of make, model and options is offered by the manufacturer.
CNW measured 10 third-party online automotive information providers including AOL.com, AutoWeb.com, CarsDirect.com, CarPoint.com, CarPrices.com, ChromeData (through Yahoo), Edmunds.com, IntelliChoice.com, Kelley Blue Book (KBB.com), and Vehix.com.
The most accurate pricing and configuration information provider was Chrome for the second year in a row with an average error of barely $24, down from $84 a year ago.
While this year's study shows vast improvements for some of the sites including Chrome and Kelley, overall inaccuracy grew from $444 in the 2000 study to $630 this year.
In a second phase of the study, "average consumers" using various types of computer systems were asked to rate each of the online information providers.
CarPrice.com was ranked highest at 8.34 on a 10-point scale. It, too, uses Chrome as its price and vehicle-configuration provider. Kelley and Edmunds were second and third. AOL, AutoWeb and IntelliChoice were rated lowest.
"As many now-defunct automotive dot-coms discovered, online new-car pricing is tricky and difficult," said CNW Marketing Research president Art Spinella.
"It requires precision software that reduces the likelihood of consumer errors while accurately reflecting the manufacturers' dealer-invoice and MSRP prices."
Because of the flaws in many of those former automotive sites, consumers are not as trusting of online automotive data as they were just a year ago, other CNW studies reveal.
This increasing rate of skepticism and a rebirth of in-person comparison-shopping means a dealer or online site must have the most accurate information possible or suffer the potential loss of valuable customers, CNW said.
More F&I
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →
Amplify 2026 Billed as Turning Innovation Into Results
Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.
Read More →
Own Your Outcome: F&I in the Digital Customer Journey
Finance has historically been the last step in the car-buying process, but it doesn’t have to be. The customer’s journey starts long before they arrive at the dealership, and so should F&I’s involvement.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Lifetime Battery F&I Product Meant to Drive Dealer Traffic
EFG Cos. offering is intended to create lifetime auto dealer engagement with customers.
Read More →
The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →