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Polk and Partners Report on 'Largest' Auto Study
Sector specialist R. L. Polk & Co., together with partners The Cobalt Group and Yahoo!, has announced results for the 2007 Dealer eBusiness Performance Study, billed as 'the largest research initiative in the automotive industry'.
The study, which covers dealership lead handling, Internet sales performance and the influence of online search and consumer generated media on shopping behavior, includes two Internet-based surveys: one of 550 vehicle shoppers and purchasers, and one of 1,000 car purchasers. It also involves analysis of over 1 million leads from 1,140 dealerships representing 35 brands to assess sales rates and time to close; and an eMystery shop campaign of over 2,100 dealers encompassing 20 brands.
In particular the study, which is a sequel to Cobalt's 2005 Industry and Dealership eBusiness Performance Study, looks into buying influences, consumers' pre-selection of dealerships at which to shop, brand-switching motives and the rising influence of online dealership reviews.
Among the results, the study suggests that 88% of consumers use the Internet for research prior to visiting a dealership, but that more than 30% of Internet leads sent to dealers go unanswered. 21% of purchasers switched dealerships based on consumer reviews they read, and of those that purchased a different brand, 23% did so because of poor dealer interaction.
The Cobalt Group provides a range of automotive marketing services and is online at www.cobaltgroupresearch.com. Polk, a privately held global firm based in Southfield, Mich. and with operations on four continents, is on the web at www.polk.com.
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