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Dealer Newsletter: November 2002 Edition
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| Top Industry Players Weigh in on the Future of the Auto Industry |
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| Updated |
Mar 17, 2005 19:41:50 |
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0 | | Author | Staff |
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Description:
Autobytel Inc. President and CEO Jeffrey Schwartz recently kicked off the Auto E-Commerce Summit at the 2002 J.D. Power & Associates International Automotive Roundtable, held in Las Vegas, by presenting new data demonstrating the continued aggressive growth of Internet car sales--and the increasingly vital role of Internet marketing. Among other findings, Schwartz noted the Internet has become the most important source of information for new car buyers, far outpacing traditional media (according to Lieberman Research Worldwide). He also revealed that the Internet is projected to influence over 10 million new vehicle sales this year, that 62% of all new car buyers are automotive Internet users, and that the Internet currently accounts for 10% of all current auto sales.
J.D. Power & Associates Partner Chris Denove presented compelling information from J.D. Power’s 2002 Escaped Shopper and Owner Loyalty Study, based in part on videotape shot by hidden cameras in dealerships (of course, with the full cooperation of dealer principals). The study underscores the important role of dealership sales personnel with regards to brand rejection, revealing that consumers who have an unpleasant experience at a dealership often not only leave that dealership, but also end up purchasing a different brand as well. Denove went on to itemize key reasons why car shoppers don’t end up becoming car buyers. These rejection factors included high levels of pressure, perceived dishonesty, understaffed sales departments, and disinterested sales personnel.
Other Roundtable speakers included AIADA President Walter Huizenga; NADA President Phillip Brady; Peter Butterfield, executive VP and COO, Kia Motors America; Gary Dilts, senior VP sales, DaimlerChrysler Corporation; and Donald Esmond, senior VP and GM, Toyota Division, Toyota Motor Sales, U.S.A, Inc. In reference to Toyota’s new marketing focus on women, younger buyers and ethnic minorities, Esmond noted that by 2010 40% of the U.S. population will be ethnic minorities and predicted that future marketing success will be underpinned by an understanding of ethnic diversity. |
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