NADA’s Perspective Explores Ramifications of Digital Trends

Jonathan Banks
Exec­u­tive Auto­mo­tive Ana­lyst
NADA Used Car Guide

Before Inter­net, con­sumer con­sid­er­a­tion for new or used was based on a lim­it­ed num­ber of influ­enc­ing fac­tors: pre­vi­ous brand expe­ri­ence, tra­di­tion­al media, and local deal­er­ship expe­ri­ences. Today’s bet­ter-informed buy­er starts with a much small­er con­sid­er­a­tion set of online touch points. Post-pur­chase, con­sumers share their expe­ri­ences and absorb those of oth­ers. These opin­ions play a large role in shap­ing what they buy in the future.

Here’s the lat­est edi­tion of NADA Per­spec­tive

Online Sites Have Allowed Buy­ers to Com­pare Ask­ing Prices and View Con­di­tion Pho­tos:
Con­sumers could also access used vehi­cle trade-in and retail val­ues online from sources such as NADAguides.com.

Deal­ers Now Access Pric­ing Data Derived from Thou­sands of Actu­al Sales Trans­ac­tions:
Robust solu­tions give deal­ers far greater insight into makes and mod­els proven to be most desir­able in their local mar­ket.

Spread Between Auc­tion Price and Retail List­ing Price Closed to About $4,000:
Insight gained through tech­nol­o­gy and data has led to health­i­er used vehi­cle prof­it mar­gins, despite more com­pet­i­tive pric­ing envi­ron­ment.

Tags:


0 Comments

    Leave a Reply

    Your email address will not be published. Required field are marked *.