iVendi presented a report on online motor retailing recently. The report was formulated after interviewing 51 car dealers, 304 customers, and 11 manufacturers. The interviews were conducted between 21st March and 9th April by APD Global Research.
The key findings of the report include:
- 52% of the dealers said that customers would readily buy a car from them via online method
- 43% dealers had a plan to reinforce their online marketing efforts in the coming 18 months while 83% believed that it is still an important factor for the customers to visit the showroom before buying a car.
- The customers also agreed with the fact that showroom visit is imperative
- 79% customers showed their interest in buying a new car within a year. 87% of these customers said that they’d be confident of buying a car after a showroom visit.
- 79% consumers are confident of making an online Thus, the dealers should put their efforts in depicting the available products online on the website in the best possible way.
- 57% of the customers believed that online motor experience lags behind other retail experiences.
- 33% OEMs want to offer the option of finance online on cars in the coming 18 months and 73% plan to augment their investment in the sector
- 81% OEMs wants to integrate their existing dealer networks online
These findings show that online motor retail will become significant and a quick way to sell cars. But dealers will always remain a chief component of the buying process. So, combining the two is the best idea.
James Tew, the chief executive of iVendi said that the car dealers should not focus on making their website pretty but they should emphasize on making it an e-commerce platform. He exclaimed that it’s the functionality of the vehicles that attract the customers and helps in the effective selling of the cars.