Automotive Shopping Moments on Smartphone
> Which car is best moments
> Is it right for me moments
> Can I afford it moments
> Where should I buy it moments
> Am I getting a deal moments
Automotive Shopping Moments on Smartphone
> Which car is best moments
> Is it right for me moments
> Can I afford it moments
> Where should I buy it moments
> Am I getting a deal moments
Overview: Significant volume of Toyota shopping activity, KBB.com Expert and Compare cars are key for Toyota shoppers, 26% Higher activity on Lexus new car pricing pages than competitive set, over 7.2M Toyota trade-in reports generated, driving qualified shoppers to Toyota, Toyota sponsorships drive more lower funnel activities, more Lexus content researched during RX homepage takeover, homepage takeover increases engagement.
Toyota Core 4 Insights:
A. The pace of growth is slowing
B. Income growth has been stagnant since the late ’90s
C. U.S. consumer confidence gains have stalled, foreshadowing a sales plateau
D. Consumer vehicle purchasing power is on the decline
E. Incentive spending is rising to sustain the record sales pace
F. Subprime is now accounting for a higher portion of the mix
G. Opportunity for non-lux OEMs to ‘turn the tides’ back if economy does stall out
H. RAV4 share of compact SUV has grown slightly
I. Cross-shopping review for Camry XS, Corolla XS, RAV4, Prius XS
J. Everything except Prius has increased in loyalty over past 2 years
K. Camry is being priced near the segment average
L. Corolla is priced below segment average – created an opportunity to translate consumers to higher trims / Affordability opportunity
M. RAV4 vs. compact SUV pricing curves
N. Prius is priced below other alternative fuel vehicles… / leads its competitive set in perceptions in nearly every category
O. Camry perceptions are very high
P. RAV4 does not lead any factor, but above average on all
Disruptions getting a lot of attention: urbanization, gen z/millennials, sharing economy
Implications & Considerations: industry implications, dealer/OEM considerations, COX Automotive considerations.
Executive Summary topics:
1) Connectivity and digitization is sky rocketing
2) The countdown for disruption has already started
3) The center of gravity of the customer relationship will shift
4) Business models will be circling in different orbits
5) Data is the fuel that informational engineering ignites
6) The race to the planet of data has not been decided
NADA Conference Update COX Automotive
Media topics include: Cars.com, CarGurus, TrueCar, eBay Motors
Software topics include: Pearl Technology, NCC (National Credit Center), and AutoAlert and DealerFX
NADA Conference Update COX Automotive
Media topic insights include: Edmunds.com, Black Book, CarFax, and DRIVIN
Software topic insights include: CDK Global, DealersLink
Observed Trends: Sourcing Solutions, vendors of note are:
1) Consumer-to-Dealer (Trade-In) Cars.com, Edmunds.com, Carphoria, eAutoAppraise, Auction Simplified “Broadcast Appraisal”
2) Dealer-to-Dealer (trade Networks): Auction Simplified, DealerCue, and Dealer Market Exchange