Industry Analysis & Industry Trends
The Online Car Dealers industry experienced its share of wear and tear during the Great Recession, which led to a downturn in per capita disposable income and corporate profit and, thus, drops in consumer and business spending on cars. Improving economic conditions post recession and government incentive programs, however, resulted in overall positive growth from 2008 to 2013. Despite stronger demand from consumers and businesses endowed with higher disposable income and profit, the industry will continue to face challenges in luring consumers to buy online.... purchase to read more
Industry Report - Industry Products Chapter
Online car dealers sell new and used vehicles and provide parts, repair services financing and insurance. Consumers are driving their vehicles longer and choosing used vehicles over new ones, fueling growth in the maintenance-oriented parts and services segment.
New vehicle sales
New vehicle sales are expected to account for about 46.9% of industry revenue in 2014. Demand for new vehicles was hampered during the recession as consumer spending plummeted, but has since picked up. New car dealers continue to benefit from pent-up demand being released, new models, low interest rates and easing credit terms.
Prior to 2007, sales of light trucks and SUVs were skyrocketing; however, this trend has since begun to unwind due to rising gas prices... purchase to read more