New Car Shoppers Would Rather Get A Better Deal On A Current Model Than Delay Purchase For A Redesign

New Car Shoppers Would Rather Get A Better Deal On A Current Model Than Delay
                           Purchase For A Redesign

PR Newswire

ATLANTA, April 11, 2013

ATLANTA, April 11, 2013 /PRNewswire/ -- How  important is it to shoppers to
get the latest redesign of a new vehicle? According to recent data from the
AutoTrader.com^® Trend Engine, the answer among a majority of shoppers is: not
very important.

An online survey conducted by AutoTrader.com revealed that 57 percent of
shoppers do not feel that it is important to have the latest redesign, and an
even larger majority (79 percent) would rather take advantage of a good deal
on the current model instead of delaying their purchase for the newest design.

"The world we live in moves quickly, and shoppers are exposed to change almost
constantly," said Rick Wainschel, vice president of automotive insights at
AutoTrader.com. "From computers to phones to TVs and even cars, the next 'new'
release seems to be always just around the corner, making it harder for people
to have the latest and greatest for very long. In that environment, especially
with such a large purchase as a car, many consumers seem to feel that good is
good enough, particularly if it will save them some green."

Additionally, the survey also showed that while consumers are not set on
getting the latest design, nearly half (47 percent) feel that it is important
to be aware of upcoming redesigns, and 56 percent actively research upcoming
designs. However, they are likely using this information to get a good deal on
the current model.

While these stats may be disconcerting for OEMs who invest significant time
and money into redesigning their vehicles, there is a good lesson to be
learned.

"People spend more than 19 hours shopping for a vehicle and typically have a
wide consideration set, giving OEMs ample opportunity to influence shoppers,"
Wainschel continued. "However, automakers will have to tell a holistic and
compelling story about what is new and improved in order to have the best
chance of convincing shoppers that the new design is truly worth waiting for."

About AutoTrader.com

Created in 1997, Atlanta-based AutoTrader.com is the Internet's ultimate
automotive marketplace. As a leading resource for car shoppers and sellers,
AutoTrader.com aggregates millions of new, used and certified pre-owned cars
from thousands of dealers and private sellers and provides expert articles and
reviews. AutoTrader.com, which also operates the AutoTraderClassics.com auto
marketing brand, is wholly owned by AutoTrader Group. Additionally, AutoTrader
Group owns Kelley Blue Book (KBB.com®) as well as four other companies that
provide a full suite of software tools that help dealers and manufacturers
manage their inventory and advertising online: vAuto®, HomeNet Automotive®,
VinSolutions® and Automotive Information Systems (AIS). AutoTrader Group is a
majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a
25 percent owner of the company and Kleiner Perkins Caufield & Byers is also
an investor. For more information, please visit http://press.autotrader.com.

SOURCE AutoTrader.com

Website: http://press.autotrader.com
Contact: Julie Shipp, 404-568-7914 (o), 404-558-7837 (m),
julie.shipp@autotrader.com
 
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