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2012 Cars.com Online CPO Shopper Insights                                  David Greene                     Manager, Adver...
Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping...
Objectives Objectives •   To gauge awareness of certified pre-owned vehicles (CPO) among     consumers •   To understand m...
MethodologyCPO Insights Study                   Mobile Car Shopper Study•   Online Panel via Qualtrics       •   Online Pa...
Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping...
Household Income                                                                   78%                                    ...
Age: Percent of Shoppers 35+ Years Old                                                                                    ...
Education                                                 36%New Shoppers: 20%                                            ...
Other CPO Shopper Demographics                                         Caucasian                                     73%  ...
Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping...
Before considering CPO                Visited a dealership to see a NEW car                                          70%  ...
CPO Shoppers Intend to Research and Shop Much   Longer Than New Buyers                                                    ...
Number of vehicles considered at   beginning of shopping process                                                     44%  ...
CPO buyers spend less than originally planned                                                                             ...
CPO buyers spend less than originally planned                                          Price Spent                        ...
How much is CPO worth?                                                                   54%                              ...
Half of CPO Purchases Fall Into OEM Programs CPO Shoppers intending to buy OEM CPO                                        ...
Higher CPO Intent Than Purchase Among Mobile Shoppers                                             Intenders              P...
Top 10 Reasons Shoppers Consider CPO                                        Quality/ Reliability                          ...
Top 10 Reasons Shoppers Consider CPO: TRUST                                        Quality/ Reliability                   ...
Top 10 Reasons Shoppers Consider CPO: VALUE                                        Quality/ Reliability                   ...
Top 11 Reasons Shoppers Consider CPO                                                                                      ...
Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping...
Where do shoppers first learn about CPO?                                 Dealership staff                                 ...
Did the Internet Change orInfluence Your Decision?                                                          No            ...
What are CPO shoppers doing on the Internet?                                                       Research vehicle       ...
What are CPO shoppers doing on the Internet?                                                Research vehicle              ...
Interacting with Dealers Through        the Internet  Find          Browse vehicle listings and read about options        ...
Device Usage for Vehicle Shopping                         Percent of Mobile Shoppers Indicating High Importance           ...
How Important Is Mobile?                                                      36%   43%Source: Google/OTX, The Mobile Move...
How important is mobile to auto shoppers? Mobile device supplemented vehicle search,       but most research done on PC/la...
Mobile Shoppers Access Automotive   Content Wherever They Are                79%                                   58%    ...
Auto Information ResearchedWhile At a Dealership                         Pricing Information                              ...
Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping...
Key Takeaways                CPO Shopping Cycle is Longer                     35%                                   28%   ...
Key Takeaways                                                                                                  Before cons...
Key Takeaways  CPO shoppers are motivated by value, and they want          a vehicle they feel they can trust.            ...
Thank you!     2012 Cars.com Online CPO Shopper Insights                                       David Greene               ...
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Cars.com Online CPO Insights Presentation Nov 2012

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About the study

To help dealers and manufacturers understand more about shopper motivations for purchasing or considering a CPO vehicle, Cars.com conducted a survey of nearly 900 online car shoppers in June 2012 who intended to purchase or had recently purchased a CPO vehicle. The survey was served via Qualtrics survey tool utilizing Qualtrics’ survey panel of respondents.

Intenders n=590 and purchasers n=288

Published in: Automotive
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Cars.com Online CPO Insights Presentation Nov 2012

  1. 1. 2012 Cars.com Online CPO Shopper Insights David Greene Manager, Advertiser Insights
  2. 2. Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping ProcessConclusion
  3. 3. Objectives Objectives • To gauge awareness of certified pre-owned vehicles (CPO) among consumers • To understand more about consumer influences and motivations for purchasing or considering a CPO vehicle • To better understand how car shoppers use their mobile devices in the decision making process
  4. 4. MethodologyCPO Insights Study Mobile Car Shopper Study• Online Panel via Qualtrics • Online Panel via Nielsen• June 2012 • June 2012• CPO Shoppers n=590 • Auto Shoppers n=748• CPO Purchasers n=288 • Auto Purchasers n=754• Internet used to research/shop • Mobile device used to research/shop • Mobile apps, mobile websites, Internet
  5. 5. Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping ProcessConclusion
  6. 6. Household Income 78% 63% New Shoppers 65% 58% Used Shoppers All Auto Shoppers**: $50,000+ All CPO Shoppers: Mobile CPO Shoppers*: $45,000+ $50,000+Q: Please choose the category that roughly includes your total annual household income before taxes. *Source: Mobile Web and App Usage for Automotive Shoppers Conducted on behalf of Cars.com by Nielsen, September 2012 **Source: Nielsen @Plan, Q2 2012; Shoppers that will definitely or probably purchase a new/used vehicle in the next six months.
  7. 7. Age: Percent of Shoppers 35+ Years Old 60% New Shoppers 60% 58% All Auto Shoppers**: 35+ years old 51% Used Shoppers All CPO Shoppers Mobile CPO Shoppers*Q: Which of the following groups include your age? *Source: Mobile Web and App Usage for Automotive Shoppers Conducted on behalf of Cars.com by Nielsen, September 2012 **Source: Nielsen @Plan, Q2 2012; Shoppers that will definitely or probably purchase a new/used vehicle in the next six months.
  8. 8. Education 36%New Shoppers: 20% 15% 9% New Shoppers College graduate Post-grad work Q: What was the last year of school you completed? Source: Nielsen @Plan, Q2 2012; Shoppers that will definitely or probably purchase a new/used vehicle in the next six months.
  9. 9. Other CPO Shopper Demographics Caucasian 73% Married 58% Q: Prior to considering a Certified Pre-Owned vehicle, did you visit a dealership to see:?
  10. 10. Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping ProcessConclusion
  11. 11. Before considering CPO Visited a dealership to see a NEW car 70% Visited a dealership to see a USED car 69% Q: Prior to considering a Certified Pre-Owned vehicle, did you visit a dealership to see:?
  12. 12. CPO Shoppers Intend to Research and Shop Much Longer Than New Buyers CPO Shoppers New Vehicle Buyers* 38% 35% 28% 28% 20% 17% 15% 9% 1 month or sooner 1-3 months 4-6 months 7-12 monthsQ: You’ve indicated you’ve shopped for a used or Certified Pre-Owned vehicle. When do you plan to purchase or lease a vehicle?* New Vehicle Buyers from J.D. Power and Associates 2012 New Auto Shopper Study
  13. 13. Number of vehicles considered at beginning of shopping process 44% 36% 14% 6% 1 2 to 3 4 to 6 6+Q: Approximately how many different vehicle models were you considering when you first used the Internet in your current or most recent vehicleshopping process?
  14. 14. CPO buyers spend less than originally planned Price Planning to Spend 30% Shoppers/Buyers Percent of CPO 25% 20% 15% 10% 5% < $10,000 $10K- $15K- $20K- $30K- $40,000+ $14K $19K $29K $39KQ: What was the price of the Certified Pre-Owned vehicle you purchased, excluding tax, license, trade-in, rebate, etc.?
  15. 15. CPO buyers spend less than originally planned Price Spent Price Planning to Spend 30% Shoppers/Buyers Percent of CPO 25% 20% 15% 10% 5% < $10,000 $10K- $15K- $20K- $30K- $40,000+ $14K $19K $29K $39KQ: What was the price of the Certified Pre-Owned vehicle you purchased, excluding tax, license, trade-in, rebate, etc.?
  16. 16. How much is CPO worth? 54% 25% 22% < $1,000 $1,000-$2,500 $2,500+Q: Certified Pre-Owned vehicles, unlike other used vehicles, have been inspected, repaired, and given a warranty. Knowing that, how much extrashould a Certified Pre-Owned vehicle cost, compared to a similar used non-certified vehicle?
  17. 17. Half of CPO Purchases Fall Into OEM Programs CPO Shoppers intending to buy OEM CPO 85% CPO Buyers that purchased OEM CPO 49% Q1: You mentioned that you are planning to purchase or lease a used or Certified Pre-Owned vehicle. Which of the following are you most likely to consider purchasing or leasing? Mark all that apply. Q2: You mentioned that you purchased or leased a Certified Pre-Owned vehicle in the past six months. Which of the following best describes the Certified Pre-Owned vehicle that you most recently purchased?
  18. 18. Higher CPO Intent Than Purchase Among Mobile Shoppers Intenders Purchasers 35%Shoppers/Buyers 30% Percent of 25% 20% 15% 10% 5% Used CPO New Source: Mobile Web and App Usage for Automotive Shoppers Conducted on behalf of Cars.com by Nielsen, September 2012
  19. 19. Top 10 Reasons Shoppers Consider CPO Quality/ Reliability 60% Lower price than new vehicle 55% Peace of mind that its a quality vehicle 51% Certified warranty is backed by OEM 47% Brand reputation 42% Lower mileage than a non-certified 39% Just as good as a brand new vehicle 38% I want an extended warranty 30% Vehicle Reviews 28% I can afford more features/options 23%Q: Which of the following are the most important factors that influenced you to consider a Certified Pre-Owned vehicle? Please select all that apply.
  20. 20. Top 10 Reasons Shoppers Consider CPO: TRUST Quality/ Reliability 60% Lower price than new vehicle 55% Peace of mind that its a quality vehicle 51% Certified warranty is backed by OEM 47% Brand reputation 42% Lower mileage than a non-certified 39% Just as good as a brand new vehicle 38% I want an extended warranty 30% Vehicle Reviews 28% I can afford more features/options 23%Q: Which of the following are the most important factors that influenced you to consider a Certified Pre-Owned vehicle? Please select all that apply.
  21. 21. Top 10 Reasons Shoppers Consider CPO: VALUE Quality/ Reliability 60% Lower price than new vehicle 55% Peace of mind that its a quality vehicle 51% Certified warranty is backed by OEM 47% Brand reputation 42% Lower mileage than a non-certified 39% Just as good as a brand new vehicle 38% I want an extended warranty 30% Vehicle Reviews 28% I can afford more features/options 23%Q: Which of the following are the most important factors that influenced you to consider a Certified Pre-Owned vehicle? Please select all that apply.
  22. 22. Top 11 Reasons Shoppers Consider CPO Luxury Shopper Quality/ Reliability 60% Differences Lower price than new vehicle 55% ↓ Peace of mind that its a quality vehicle 51% Certified warranty is backed by OEM 47% Brand reputation 42% Lower mileage than a non-certified 39% ↓ Just as good as a brand new vehicle 38% I want an extended warranty 30% Vehicle Reviews 28% I can afford more features/options 23% ↑ It allows me to afford a luxury vehicle 22%Q: Which of the following are the most important factors that influenced you to consider a Certified Pre-Owned vehicle? Please select all that apply.
  23. 23. Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping ProcessConclusion
  24. 24. Where do shoppers first learn about CPO? Dealership staff 20% TV ad 14% Prior experience 12% 3rd Party vehicle information site 11% Dealership website 11% Friend/family member 9% OEM website 7%Q: Where did you first learn about Certified Pre-Owned vehicles?Less than 2.5%: While servicing my car or while at the mechanic; Newspaper or magazine advertisement; Other Social networking website;Magazine or newspaper article; Radio advertisement; Online advertisement
  25. 25. Did the Internet Change orInfluence Your Decision? No Strong Influence Influence Make or model CPO or new/used Price to pay Where to purchaseQ: On a scale of 1 to 5 where “1” means “No Influence” and “5” means “Strong Influence”, how much does your use of the Internetinfluence the following?
  26. 26. What are CPO shoppers doing on the Internet? Research vehicle 92% What car Determine brands to consider 69%do I want? Determine type of vehicle I want 64% Where Learn about CPO programs 53% should I buy it? Read dealership reviews 43% Learn about negotiating price 33%How much should I Research extended warranty programs 33% pay? Q: In the past six months, have you used the Internet to: (Mark all that apply)
  27. 27. What are CPO shoppers doing on the Internet? Research vehicle 92% Determine brands to consider 69% Determine type of vehicle I want 64% Learn about CPO programs 53% Read dealership reviews 43% Learn about negotiating price 33% Research extended warranty programs 33%Q: In the past six months, have you used the Internet to: (Mark all that apply)
  28. 28. Interacting with Dealers Through the Internet Find Browse vehicle listings and read about options 66% vehicle Find dealership address 46% &dealership Find dealership phone number 43% E-mail a dealership for a price quote 39% Negotiate price through email 29% Have a dealership contact me by email 28%But don’t Have a dealership contact me by phone 21% call Instant message or online chat 17% me, I’ll Dont want to interact through Internet 10%call you! Q: Thinking about your recent online vehicle shopping experience, and how you might shop for vehicles in the future, how would you prefer to use the Internet to interact with vehicle dealerships while car shopping? (Please select all that apply)
  29. 29. Device Usage for Vehicle Shopping Percent of Mobile Shoppers Indicating High Importance 88% 39% 49% Cell Phone Tablet PC/laptopHow important was each device in your vehicle shopping process?Percent of shoppers indicating 4 or 5, where 5 = extremely important, and 1 = not important.Source: Mobile Web and App Usage for Automotive ShoppersConducted on behalf of Cars.com by Nielsen, September 2012
  30. 30. How Important Is Mobile? 36% 43%Source: Google/OTX, The Mobile Movement, U.S., April 2011
  31. 31. How important is mobile to auto shoppers? Mobile device supplemented vehicle search, but most research done on PC/laptop 71% Info researched on mobile device is essentialfactor in decision to purchase specific vehicle 35% Source: Mobile Web and App Usage for Automotive Shoppers Conducted on behalf of Cars.com by Nielsen, September 2012
  32. 32. Mobile Shoppers Access Automotive Content Wherever They Are 79% 58% 54% 50% 43% 43% 40% Home Watching While Work In a car Restaurant Dealership TV waitingSource: Mobile Web and App Usage for Automotive ShoppersConducted on behalf of Cars.com by Nielsen, September 2012
  33. 33. Auto Information ResearchedWhile At a Dealership Pricing Information 57% General Information 22% Vehicle Feature Information 14% Vehicle Information 12% Information About Reviews 9%Source: Mobile Web and App Usage for Automotive ShoppersConducted on behalf of Cars.com by Nielsen, September 2012
  34. 34. Today’s AgendaObjectives and MethodologyCPO Shopper DemographicsMotivations for CPO ConsiderationInternet Role in Shopping ProcessConclusion
  35. 35. Key Takeaways CPO Shopping Cycle is Longer 35% 28% 20% 17% 1 month or 1-3 months 4-6 months 7-12 months sooner
  36. 36. Key Takeaways Before considering CPO, visited dealership to CPO shoppers also see: consider new and used, non-certified vehicles prior to certified NEW car 70% vehicles. USED car 69% Q: Prior to considering a Certified Pre-Owned vehicle, did you visit a dealership to see:?
  37. 37. Key Takeaways CPO shoppers are motivated by value, and they want a vehicle they feel they can trust. Messaging to CPO shoppers: • Peace of mind • Long-term cost savings of CPO • CPO is smart decision
  38. 38. Thank you! 2012 Cars.com Online CPO Shopper Insights David Greene Manager, Advertiser Insights dgreene@cars.com @GreeneCars dealers.cars.com/cpo

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