Q2 Says Half of U.S. Car Dealers Buy Used Inventory Online
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Seattle-based Q2 Brand Intelligence Tuesday released a study indicating that 48 percent of automobile dealerships in the U.S. are now using the Internet to purchase used vehicle inventory. A similar study by Q2 last year found only 12 percent of dealers were using the Internet in that fashion last year.
The study also found that dealers most often have a positive experience when purchasing online. The study found 81 percent of those who purchased online say they will do so again. Also, 17 percent of those who purchased vehicles online said they purchased at least 21 percent of their vehicle inventory online.
"It's apparent that there's a strong movement among dealers to use the Internet to acquire used vehicles," said David Bauer, vice president of Brand Intelligence at Q2. "In business it can be difficult to recognize more effective operations methods until such methods are made available. Now that dealers are beginning to see the benefits the Internet affords in terms of cost and convenience, there's a big move in that direction.