VIN Basics Blog

There’s nothing like the smell of a brand-new car, but with the average cost of new vehicles now sitting at  ~$50K, many consumers have opted for used vehicles as an alternative in recent years. New vehicle prices have spiked since the COVID-19 pandemic, with average transaction prices remaining nearly $11k higher than pre-pandemic back when average transaction prices for new vehicles were ~$37k. In this article, we will discuss some of the key drivers behind increased vehicle prices, how it has impacted the auto industry, and why a comprehensive vehicle data solution is even more important for the automotive businesses impacted.

Vehicle subscription services started to surface in 2017 and are now available through a few manufacturers, some dealers, and several third parties including startups and vehicle rental companies. Given the diversity of businesses and level of variability in their business models, understanding how vehicle subscription services work requires a good deal of research.

While e-commerce has taken the retail industry by storm, there are a few businesses, including dealerships, that have been reluctant to embrace an e-commerce (or digital retailing) business model. Rightfully so. Purchasing a vehicle is a big decision, and many consumers would still prefer to complete some of the steps at the physical dealership, such as test drives and financing.

Content marketing has proven to be an effective marketing strategy across many industries, including the auto industry. In the automotive retail space, content marketing is a great way to connect potential vehicle buyers with valuable content that answers their questions and builds trust with your dealership, or your allied business.

Another article on digital retailing? In prior blog posts, we’ve discussed how the modern consumer shops for a vehicle, which research tools are most valuable, and how dealers can win over these consumers during the online shopping process. It only makes sense now, to cover one of the most talked-about subjects in the auto industry, digital retailing.

Automakers have made great strides in increasing vehicle safety. Today's car shoppers will find many different advanced safety technologies, such as lane assistance technology, that are designed to reduce accidents and protect drivers, cyclists, and pedestrians.

Since automakers each have their unique branding for these safety features, it’s easy for vehicle shoppers, and even dealers and service providers, to get confused when comparing vehicle models across multiple brands. For example, while some safety features will simply alert drivers when required to adjust, others will actively take measures to mitigate collision with semi-autonomous functionality.

It's been a while since I last experienced shopping for a vehicle. And I have to say, it's nice being in the driver's seat, seeing things from a consumer's perspective.

My wife Christine and I just bought a pre-owned 2014 Honda Pilot to replace her 2013 Honda Accord that had been totaled by a drunk driver a few weeks ago. She was stopped at a red light… Folks, wear your seatbelts!

Fortunately, she escaped any major injuries, but her car did not. Given the circumstances, we were forced to expedite the vehicle shopping/buying process. It was only 2 weeks from the day Christine’s Accord was totaled to the day we signed paperwork at the dealership for her Pilot.

It’s one thing to consistently drive traffic to your website, but it’s another thing to keep them engaged. This is where your website’s user experience (UX) is crucial.

The UX on your auto listing or dealership website should take the stress out of vehicle shopping and make it easy for consumers to find their next vehicle. If you’re finding that your website isn’t getting as much traction as you’d hoped, conversion rates are low, or overall vehicle sales are low, it may be time to reassess the UX on your website.

You could have the most friendly receptionists, the smoothest sales team, the most impressive showroom, and even the best F&I department in town, but none of that matters if no one is there to experience it.    

The average vehicle shopper only visits 1-2 dealerships before making a purchase. The fact of the matter is that most of the vehicle research and buying process is done online today.

85-90% of auto shoppers conduct online research, according to a MillwardBrown study. And 64% of online vehicle shoppers compare different models as part of the process, according to a recent study commissioned by Cox Automotive. Still many auto listing and dealership websites do not offer a comparison tool, or have buried it on their website.