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PASADENA, Calif. (Sept. 26, 2005) A study completed by Yahoo! and Compete, Inc., which is an online market research firm, discovered that online search plays a key role in the research and purchase-decision process of consumers in the market for a new or used vehicle. The study found that one in five unique Web surfers arrive at an auto Web site through a search. Between July 2004 and June 2005, an average of 25 million people per month sought auto information on one or more of the 26 Web sites tracked by the study. Within that period, search engines were responsible for delivering 19.1 percent of the online visitors to auto Web sites. Nearly 70 percent of auto researchers who purchased a vehicle said a search engine was the first place they turned to for research, according to the study. The majority also said search engine results were instrumental in helping them find useful information about their vehicle purchase. Among the auto researchers who purchased a vehicle, the study discovered that search engines were considered the most credible source in helping with the purchase process. Almost 70 percent of participants said they used search engines throughout the entire research and purchase process, and half of all buyers said online searches helped them narrow down the list of vehicles they were considering before purchase. "Auto buyers are increasing leveraging search to simplify their auto-shopping process," said Don Aydon, automotive category director for Yahoo! search marketing. "We believe this research will help auto marketers better understand how search can help them reach actively engaged auto shoppers and influence their purchase decisions even earlier in their shopping process than initially expected." Frank Haneberger, a director with Compete's automotive practice, added, "The Internet is a critical resource for consumers while researching their next vehicle purchase. Search plays an integral role in this online research process. Automotive marketers who embrace and leverage online consumer shopping behavior benefit from greater sales, market share and profitability." For the study, Compete analyzed online behavior of its panel of two million Internet users and conducted a survey of more than 840 Internet surfers that used search to research a recent auto purchase, including new vehicles, used vehicles or leases. The study observed both Web search and sponsored search activity across Yahoo!, Google, Ask Jeeves, MSN, Lycos and Hotbot. Purchase behavior was tracked on 17 different OEM Web sites, in addition to nine third-party auto research sites such as autos.yahoo.com and AutoTrader.com. |
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