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Web 2.0
08/22/2000
Internet will have a major impact on the value of the automotive market
Attaining the above market will not be an easy task though. The report warns that car manufacturers, auto dealers, and service providers must integrate the Internet into their business processes to avoid failure in the automotive ecommerce market. The Web should enhance their business practice by providing customers with product updates and a quality information service.
The report makes a number of growth predictions for the future of the auto market. It expects that by 2004, 8 percent of US car sales will be made online, worth USD33 billion. Consumer researching online will influence 22 percent of domestic auto sales in 2004 also, equal to 3.8 million units and worth another USD95 billion.
For more information on Internet marketing visit WebMetro: Online Marketing
The Internet is now used regularly by car buyers to conduct research before purchasing a car, with 38 percent doing research online, according to Jupiter. Customers are more informed, and the Web also permits the possibility of a direct line of contact between the car manufacturers and the buyers.
Source: NUA Internet Surveys