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NIADA’s Used Car Industry Report, 2008 offers statistics demonstrating the rapidly increasing trend of online car shoppers becoming online car buyers.
Dealerships report the rate of adoption, for both researching and buying online continues to increase from year to year. From 2006 to 2007, the number of cars SOLD online increased 85% from 2006 to 2007. In 2006, 10.9 million vehicles were sold online, in 2007, dealerships report to NIADA that number increased to 20.2 million.
That trend mirrors what companies across many industries are reporting. As the Internet becomes a more integral part of everyone’s day-to-day life, online purchases across all sectors report significant year to year gains.
Interestingly, dealerships continue to spend a disproportionate amount of their marketing budgets offline, in media that continue to see sharp decreases in their audience. Jonathan Miller, former CEO of AOL reports that ad spending online lags by a factor of 3 to 1 the consumer activity online. Said another way, advertisers should triple their online presence to keep up with the rate of consumer’s media consumption online.
AutoXloo offers a broad range of services to help dealerships easily manage their online presence. Give us a call and let us help you sell more cars online.
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