AutoTrader.com Enables Dealers to Highlight Affordability with New Promote By Payment and Automated OEM Specials
2.9.11: PRESS RELEASE
AutoTrader.com is making it easier for dealers to speak the language of affordability with two new solutions being released nationwide today: Promote by Payment and Automated OEM Specials. Promote by Payment is designed to make monthly lease and purchase payment options more visible in dealers' listings, and Automated OEM Specials streamlines the process of incorporating incentives and rebates offered by OEMs into online listings.
According to the most recent Shopper Segmentation Study conducted by AutoTrader.com, over 80% of in-market shoppers find it important to stay within a set budget when shopping for a vehicle. These two new solutions will help dealerships better merchandise their vehicles based on cost, thereby attracting more qualified buyers.
"Affordability is the entry point for most serious car shoppers," said AutoTrader.com President and CEO, Chip Perry. "No matter how perfectly a car may suit their needs, the decision to purchase comes down to whether they can make the payments. AutoTrader.com provides numerous tools to help shoppers determine a realistic car budget, and we are now providing easy and highly visible ways for dealers to advertise cars based on the monthly cost. With these tools, shoppers can know at a glance if the cars they want will fit their budgets, and dealers can attract shoppers that are one step closer to signing on the dotted line."
Promote by Payment is a multifaceted tool that enables dealers to define up to six monthly payment options — for leasing and for purchasing. This information will appear on the search results page and the vehicle details page for new and used cars listed on AutoTrader.com. On the search results page, a horizontal strip will appear at the bottom of the listing that highlights the best overall offer, the best lease payment and the best monthly purchase payment. On the vehicle details page, the best offer will be highlighted at the top, and up to six other offers will appear in a special section below the multimedia viewer.
The Automated OEM Specials feature offers dealers a faster and easier process to get OEM rebates and incentives to appear in their listings. Dealers who utilize this solution will automatically receive a daily feed of relevant specials, and they can select which ones to apply to their online inventory listings with just a few clicks.
"The importance of advertising incentives and rebates offered by OEMs cannot be overlooked — especially with today's automotive landscape where the dearth of used car inventory has resulted in higher prices for pre-owned cars," Perry continued. "For some models, a new vehicle with an attractive rebate and financing offer may be a better deal than a similar one that is a couple of years old. Giving dealers an easy and effective way to incorporate this information into their online listings enables them to entice shoppers who may be sitting on the fence between buying a new or used car."
Atlanta-based AutoTrader.com, created in 1997, is the Internet's ultimate automotive marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers and is a leading online resource for auto dealers, individuals and manufacturers to advertise and market their vehicles to in-market shoppers. The company also provides a robust suite of software tools for dealers and manufacturers to help them manage and market their vehicle inventory and display advertising on the Internet. AutoTrader.com continues to grow key business metrics, including revenue, profitability and site traffic. Today, AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to review descriptions, photos and videos of vehicles for sale; research and compare vehicles; review pricing and specials; and read auto-related content like buying and selling tips and editorial coverage of major auto shows and automotive trends. AutoTrader.com operates two other auto marketing brands, AutoTraderClassics.com and AutoTraderLatino.com. AutoTrader.com also owns used vehicle management software company vAuto, Kelley Blue Book (Kbb.com), HomeNet Automotive, a leading provider of online inventory management and merchandising solutions for the automotive retail industry and VinSolutions, a leading provider of end-to-end solution platforms for dealers. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a 25 percent owner of the company and Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.