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.
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.