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Customers know the used car market

Over half of used car buyers are researching their purchase on the internet before heading off to a dealership.

The amount of customers doing this has risen by 30% since 2003, according to research from EurotaxGlass’s.

Most dealers now broadcast their stock on the web utilising a number of popular broadcast mediums such as Auto Trader, Exchange&Mart, Yahoo! and Fish4Cars.

EurotaxGlass’s says: “The core issue for most car buyers is price, so it is fundamental that dealers offer their stock at prices that are in line with the competition. Failure to do so will result in a significant loss of business. Although buyers of more expensive cars take greater interest in specification, no buyer will pay more than what they perceive to be the fair market price.

The automotive intelligence specialist believes over 75% of all used cars offered by dealers are being advertised on the web. “These listings provide a very easy reference point for consumers and used car buyers have the ability to make better decisions than has ever been possible before,” says Adrian Rushmore, managing editor at EurotaxGlass’s.

He continues: "The other side of the coin is that dealers have never been more exposed, particularly in the critical area of price. Sales staff also need to be better informed because they are increasingly facing customers who are fully armed with information sourced from rival dealers.

“If dealers remain well informed as to their local market, they can be sure of selling vehicles rapidly and more profitably, while buyers can make significant savings if they are prepared to spend a little time researching their purchase.”

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