PORTLAND, Ore. Jan. 25, 2011
Brand loyalty has dropped among automobile buyers, and as a result, it is more important than ever for manufacturer, dealer and third-party sites to find alternative ways to stay connected with existing customers and to reach out to new potential buyers. The late 2010 survey results of potential buyers and purchasers show only 35 percent wanted to purchase the same brand of vehicle they owned previously, dropping from 39 percent in 2009.
The survey reports a rapidly growing number of potential vehicle buyers are turning to website tools such as side-by-side vehicle comparison of pricing and configurations to make educated decisions (31 percent in 2010 vs. 14 percent in 2009 used side-by-side comparison tools). In addition, 20 percent of surveyed consumers who purchased or leased a vehicle in the past 12 months have used social networking sites to research or get opinions on a vehicle.
"Moving into 2011, we firmly believe that comprehensive research tools that let the consumer build, price, compare and review will be crucial to the vehicle buying decision, and social networking sites will increasingly become a viable channel to augment that research," adds Maheshwari.
About Chrome ( www.chrome.com )
Chrome Systems, Inc., provides vehicle content, software, technology and services to deliver complete enterprise solutions to all segments of the automotive retail industry. Chrome pioneered the technology behind electronic vehicle configuration with the introduction of PC Carbook, and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding factors crucial to the vehicle buying decision and any conclusions or statements based thereon, and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
December 31, 2009 www.dealertrack.com
SOURCE Chrome Systems, Inc.