OAK BROOK, IL – Dealers who use vAuto’s RealDeal get more online vehicle shopper interest and leads than dealerships that do not, according to results of a test conducted with AutoTrader.com.
“We launched RealDeal with the belief that today’s consumers wanted a fair, market-based and transparent approach to pricing and selling used vehicles,” says Dale Pollak, vAuto founder. “The test results prove that dealers who embrace these principles fare better in the marketplace than those who do not.”
“The results are impressive on two fronts,” adds Chip Perry, AutoTrader.com CEO. “They affirm consumer focus group feedback that today’s buyers are interested in a fair deal and a no-hassle experience at the dealership. In addition, the test results highlight the kind of market intelligence and value our partnership with vAuto brings to dealers.”
The test, conducted in late spring this year, measured online shopper response to vehicle listings that include a RealDeal report compared to listings without one. AutoTrader.com has since made RealDeal reports a permanent fixture on listings from RealDeal dealers. Here are the test results:
• Online shoppers are 12 percent more likely to click on AutoTrader.com listings with a RealDeal report (measured through Search Result Pages (SRPs) and Vehicle Detail Page (VDP) conversions);
• RealDeal dealers gained a 24 percent increase in leads from online buyers (phone calls, emails, credit applications);
• RealDeal dealers saw a 40 percent increase in online activity/engagement (website clicks, map views, printable VDPs, and AutoBiography views)
The test results also resonated with vAuto RealDeal dealers. “We noted the increase in shopper activity and interest,” says Jack Anderson, used vehicle director at West Herr Automotive, Buffalo, N.Y. “But more than that, we’re excited that RealDeal reports on AutoTrader.com listings send a clear and strong message to online shoppers that we offer a unique and fair-price-minded sales experience they can’t get at other dealerships.”
Headquartered in the Chicago suburb of Oak Brook, IL, vAuto also maintains a research and development center in Austin, TX. vAuto’s innovative “Live Market View” technology allows dealers to manage their used-vehicle inventories based on actual supply-and-demand for their specific market. Today, more than 3,500 dealerships across the country use vAuto’s pricing, appraisal, stocking and merchandising systems. Dale Pollak, vAuto’s founder, is the author of two books featuring best practices and strategies for the used car department, Velocity: From the Front Line to the Bottom Line and Velocity 2.0: Paint, Pixels & Profitability. vAuto is a wholly owned subsidiary of AutoTrader.com. Additional information about vAuto is available at www.vauto.com.
Atlanta-based AutoTrader.com, created in 1997, is the Internet's ultimate automotive marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers and is a leading online resource for auto dealers, individuals and manufacturers to advertise and market their vehicles to in-market shoppers. The company also provides a robust suite of software tools for dealers and manufacturers to help them manage and market their vehicle inventory and display advertising on the Internet. AutoTrader.com continues to grow key business metrics, including revenue, profitability and site traffic. Today, AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to review descriptions, photos and videos of vehicles for sale; research and compare vehicles; review pricing and specials; and read auto-related content like buying and selling tips and editorial coverage of major auto shows and automotive trends. AutoTrader.com operates two other auto marketing brands, AutoTraderClassics.com and AutoTraderLatino.com. AutoTrader.com also owns used vehicle management software company vAuto, Kelley Blue Book (Kbb.com), HomeNet Automotive, a leading provider of online inventory management and merchandising solutions for the automotive retail industry and VinSolutions, a leading provider of end-to-end solution platforms for dealers. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a 25 percent owner of the company and Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.