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While
the majority of new-vehicle buyers who use the Internet continue
to begin their vehicle shopping at an independent Web site, manufacturer
sites are making significant inroads in attracting Internet shoppers,
according to the J.D. Power and Associates 2004 New Autoshopper.com
Study released today.
The
study finds that 58 percent of automotive Internet users begin
the new-vehicle shopping process at an independent site. However,
40 percent now begin by visiting a manufacturer's site-up significantly
from 36 percent in 2003. Further, 39 percent of automotive Internet
users rate manufacturer sites as most useful-up from 36 percent
in 2003. Fifty-nine percent find independent sites most useful-a
3-percentage point drop from 2003.
"Manufacturer
sites provide the most accurate information regarding their models,
including detailed options and features information and trim-specific
photos, which are particularly attractive to shoppers who have
a specific brand or model in mind," said Dennis Galbraith,
senior director of research for J.D. Power and Associates. "However,
independent Web sites play a critical role in providing non-biased
information, such as market-value pricing information, which is
highly valuable to new-vehicle shoppers, yet lacking on manufacturer
sites."
The
most important content features automotive Internet shoppers look
for online include dealer cost and invoice information, vehicle
options and features, MSRP and reliability ratings. Trade-in value
is a feature gaining significantly in importance.
The
impact the Internet has on buying decisions continues to be high.
Among all new-vehicle buyers, approximately 50 percent say their
make/model decision and the price paid/offered were impacted by
automotive information found on the Internet-up from about 40
percent in 2002. Twenty-two percent of all new-vehicle buyers
also say the Internet impacted their choice of dealer-up from
14 percent in 2002.
The
study also finds several key automotive Internet usage patterns:
- The
percentage of new-vehicle buyers who use the Internet in their
vehicle shopping process remains steady at 64 percent. The rate
for buyers 60 years of age and older shows a big increase to
47 percent-up from 39 percent in 2003.
- The
Pacific and New England regions have the highest percentage
of automotive Internet users at 72 percent and 68 percent, respectively.
These rates are lowest in most of the central regions of the
country at 59 percent.
- Import
brands continue to attract the highest proportion of buyers
who are automotive Internet users at 73 percent, compared to
just 56 percent for domestic brands.
- Automotive
Internet users spend an average of 4.9 hours online shopping
for their new vehicle and visit seven different sites, on average.
The 2004 New Autoshopper.com Study is based on responses from 26,838 consumers who leased or purchased a new vehicle registered in January or February 2004.
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