Adapting to today’s Internet-savvy car buyers

Description

Abstract: Thanks to the Internet, today’s car buyers are far more informed when they walk through the door than they once were. More preparatory online research has resulted in fewer dealership visits — while greater knowledge of a given car, including the cost to the dealership, creates reduced negotiating leverage for the dealer, who may find it harder to maintain the same profit levels as in the past. This article notes that adapting to these changes may result in changes to sales tactics, compensation models and marketing strategies. A sidebar offers a few statistics about today’s car buyer.