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Detroit, MI
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Aimee Canlas
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Syvetril Perryman
Specialist, Media Relations
Westlake Village, CA
(805) 418-8103
Angela Bianchi
Media Relations Associate
Detroit, MI
(248) 312-4729
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J.D. Power and Associates Reports:
AutoTrader.com Ranks Highest in Satisfying Dealers with Online Vehicle Buying Services for New- and Used-Vehicle Leads
WESTLAKE VILLAGE, Calif.: 10 September 2007 — AutoTrader.com ranks highest in satisfying dealers with online buying services for new- and used-vehicle leads, according to the J.D. Power and Associates 2007 Dealer Satisfaction with Online Buying Services StudySM released today.
The study, which measures dealer satisfaction with online buying services, ranks vehicle lead services in two segments: independent new-vehicle and independent used-vehicle. Within those segments, five factors measure overall dealer satisfaction: business generation; dealer support/service; fees; transmission of leads; and advertising, which is not included in the independent new-vehicle lead service segment. The business generation factor is the most important driver of dealer satisfaction in both segments, accounting for approximately one-half of the overall index score. The study also examines dealer satisfaction with new-vehicle leads from auto manufacturer sites and member services such as Costco Auto Program and SAM’S CLUB Auto Buying Program.
AutoTrader.com ranks highest in dealer satisfaction with new-vehicle lead providers as well as used-vehicle lead providers. Within the new-vehicle segment, AutoTrader.com performs particularly well in dealer support/service and transmission of leads. Following AutoTrader.com in the segment rankings and performing above industry average are Dealix, AutoUSA and Cars.com, respectively.
In the used-vehicle segment, AutoTrader.com performs well in four of the five measures driving satisfaction: business generation, dealer support/service, transmission of leads and advertising. Cars.com follows AutoTrader.com in the independent used-vehicle segment rankings and performs particularly well in fees.
“As products and services offered by online lead service providers continue to evolve, so does dealer satisfaction with those services,” said Steve Witten, executive director of marketing/media research at J.D. Power and Associates. “However, with dealer satisfaction averaging 585 on a 1,000-point scale for the new-vehicle lead segment and 613 for the used-vehicle lead segment, there remains considerable room for improvement in delivering the level of service dealers expect. In particular, the quality of leads is of prime importance to dealers regarding new-vehicle leads, while quantity is emphasized for used-vehicle leads.”
The study finds that dealers typically respond to online leads with a personalized e-mail or phone call within 48 minutes. The study also reveals that 46 percent of dealers report they respond to online leads in 30 minutes or less, while nearly three-fourths of dealers claim to respond in one hour or less.
“Walk-in and call-in shoppers receive responses in a more timely manner at auto dealerships compared with online lead shoppers,” said Witten. “An opportunity exists for dealers to improve on the return on their investment in lead services by paying as much attention to online leads as they would to in-person or phone sales leads and by responding just as quickly.”
The study also finds that when responding to online price inquiries from shoppers, approximately 38 percent of dealers indicate that they provide a price quote in the first e-mail response, while 35 percent provide price information only after asking shoppers for more information. An additional 18 percent of dealers report that they invite shoppers to visit the dealership to discuss pricing.
“Most online leads include price inquiries, so the practice of withholding price information until after shoppers come into the dealership could conceivably deter them from buying at that dealership,” said Witten. “However, dealers who have a policy of postponing price discussions until shoppers come to the dealership report higher sales close rates, on average, than dealers who offer pricing information online before a visit to the dealer. While shoppers increasingly are contacting dealers via e-mail during the vehicle shopping and selection process, personal contact between the shopper and dealership is still very important.”
The 2007 Dealer Satisfaction with Online Buying Services Study is based on 4,845 dealer evaluations of the online buying services they use. The study was fielded from May to June 2007.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is an ISO 9001-registered global marketing information services firm operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com/.
No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate
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What does J.D. Power and Associates do?J.D. Power and Associates' research, consulting, and performance improvement services are used by a variety of industries to improve product quality and customer satisfaction. The firm's research is based solely on responses from millions of consumers and business customers worldwide. Product and service rankings that result from this research reflect the opinions of consumers and business customers-not the opinion of J.D. Power and Associates. Rankings are derived from nationally syndicated studies that serve as industry benchmarks for measuring and tracking quality and customer satisfaction. J.D. Power and Associates conducts the research, publicly announces the results, and then offers analysis based on consumer feedback to product and service providers to help them improve their businesses.
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