Study: More people buying vehicles on the Internet
09-29-2003, 07:10 AM
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Study: More people buying vehicles on the Internet
MARKETING: Study: More people buying vehicles on the Internet
By Kathy Jackson
Automotive News / September 29, 2003
LOS ANGELES - Seven percent of U.S. households will purchase their vehicles online by 2007, up from 0.4 percent in 2002, according to Jupiter Research.
Americans are becoming more Internet savvy and are more comfortable making large purchases such as vehicles online, said Julie Ask, a senior analyst at Jupiter in a speech to a group of automotive Internet executives.
Ask based her comments on Jupiter's annual online automotive market survey, which was conducted in November.
She said consumers aren't buying the vehicles sight unseen. They are still going into the dealerships to kick tires and test-drive them.
"But they're starting to feel more comfortable, such as making a financial commitment like a down payment online," Ask said.
But while consumers seem more willing to purchase the car online, they're shying away from the Internet when it comes to buying finance and insurance.
The study showed only 13 percent of the respondents sought financing options on automotive Web sites in 2002, down from 14 percent in 2001. Only 8 percent studied insurance options, down from 11 percent in 2001.
The Jupiter study included 2,120 automotive consumers who either own a vehicle or plan to purchase one within 12 months.
Jupiter concluded that 41 percent of U.S. households used the Internet to research their vehicle purchases in 2002, and 17 percent decided to buy a vehicle based on information they found on the Web.
Other study findings:
Middle-income consumers were the largest segment of online researchers.
While third-party sites remain the most trusted overall, consumers are growing more confident in manufacturer and dealer sites. Meanwhile, trust in third-party sites slipped. Sixty-five percent of the respondents said they trusted third-party sites in 2002 compared with 76 percent in 2001.
"The manufacturers and dealers do have good sites," says Chuck Hoover, senior vice president of marketing and business development for CarsDirect.com, a third-party auto Web site. "We're not experiencing lack or decline of trust, but consumers do have higher expectations" from all the sites.
By Kathy Jackson
Automotive News / September 29, 2003
LOS ANGELES - Seven percent of U.S. households will purchase their vehicles online by 2007, up from 0.4 percent in 2002, according to Jupiter Research.
Americans are becoming more Internet savvy and are more comfortable making large purchases such as vehicles online, said Julie Ask, a senior analyst at Jupiter in a speech to a group of automotive Internet executives.
Ask based her comments on Jupiter's annual online automotive market survey, which was conducted in November.
She said consumers aren't buying the vehicles sight unseen. They are still going into the dealerships to kick tires and test-drive them.
"But they're starting to feel more comfortable, such as making a financial commitment like a down payment online," Ask said.
But while consumers seem more willing to purchase the car online, they're shying away from the Internet when it comes to buying finance and insurance.
The study showed only 13 percent of the respondents sought financing options on automotive Web sites in 2002, down from 14 percent in 2001. Only 8 percent studied insurance options, down from 11 percent in 2001.
The Jupiter study included 2,120 automotive consumers who either own a vehicle or plan to purchase one within 12 months.
Jupiter concluded that 41 percent of U.S. households used the Internet to research their vehicle purchases in 2002, and 17 percent decided to buy a vehicle based on information they found on the Web.
Other study findings:
Middle-income consumers were the largest segment of online researchers.
While third-party sites remain the most trusted overall, consumers are growing more confident in manufacturer and dealer sites. Meanwhile, trust in third-party sites slipped. Sixty-five percent of the respondents said they trusted third-party sites in 2002 compared with 76 percent in 2001.
"The manufacturers and dealers do have good sites," says Chuck Hoover, senior vice president of marketing and business development for CarsDirect.com, a third-party auto Web site. "We're not experiencing lack or decline of trust, but consumers do have higher expectations" from all the sites.
09-29-2003, 07:33 AM
#2
Drifting
I bought mine off the Internet!!!! I did my shopping at John Eagle Acura on the internet... did all my negotiatins, and had my car ready when I got the the Actual Dealership!.... It only took about 45 min once I got there to fill out the paperwork and I was on my way. And for buying the car online They even gave me the Eagle Edge program for free.. which is free vechicle maintenance for the first 30k miles( including oil changes every 3500 miles and all tuneups)
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