Latest HOT Discussion in the Forum
Online New Car Pricing Myths Debunked
AutoTrader recently revealed information from a study they did on Online Vehicle Pricing.
According to the study, new vehicles priced below MSRP get 34 percent more page views than those priced at MSRP. AND, those page views equal 20 percent more vehicles sold.
Not sure it takes a study to figure this out? Seems like commonsense to me.
A few years ago (2011) ATC published a similar finding — when using the standard AutoTrader.com ad format, adding actual photos and prices increased the VDP views by approximately 140% and increased shopper interaction by 110%. I wonder if these percentages still hold true?
I like the fact that “buy*ers traveled an aver*age of 10 more miles to deal*ers who listed their news cars below, rather than at, MSRP” – add a few actual photos of the new car, a supporting why buy/reviews and an incentive to visit the dealership to test drive, and I bet we can increase that 10 miles by a decent amount.
Here’s another thread on the forums around pricing your new car inventory and trying to figure out HOW to price your new cars under MSRP (if the manufacture allows).
So let me ask this – WHEN you price your new car inventory below MSRP (competitively), are you able to track more traffic/leads/calls and MORE sales??