Vermont Business Magazine Summer's car shopping peak may be in the rearview mirror, but the autumn chill isn't leaving dealers out in the cold. That is the main finding from the November Dealer DataView index, by Burlington-based Dealer.com, which captures year-to-date data through October 31, 2017. The index showed that after a relatively light post-summer dip, total traffic to dealership websites is once again on the rise, growing by 3 percent in October from September. Vehicle detail page (VDP) views, a strong indicator of sales intent, also rose by 2 percent last month.
Taken together, these trends suggest a relatively robust selling climate this fall, as dealers gear up for a Black Friday and Cyber Monday jump in activity. However, insights from last year regarding credit application volume – a leading indicator of purchase intent – suggest that dealers have a compelling reason to prioritize Black Friday over the rest of the holiday weekend. Dealertrack data from 2016 revealed a nearly 40 percent rise in credit applications on Black Friday compared to other Fridays in that month, while Cyber Monday registered only a 2.6 percent growth over other Mondays in November 2016.
The November DataView index confirms that engagement trends remained remarkably consistent with 2017's overall pattern of increased mobile traffic and SUV popularity. Mobile traffic is holding steady month over month, accounting for 57 percent of total visits in October. SUVs remained the most popular body style at 35 percent of all VDP views.
Search advertising cost-per-click (CPC), another bellwether for demand, climbed for the third consecutive month and is now averaging $3.51 nationally, with a fairly wide regional spread. The East South Central region registered the lowest CPC at $2.96, while the Mid-Atlantic region commanded a CPC rate of $3.81. Advertising decision-makers may once again need to adjust their budget to account for this continuing upward trend.
"The DataView index provides a timely snapshot and actionable insights for dealers seeking to better understand consumer sentiment," said James Grace, Senior Director of Analytics Products, Cox Automotive Media Solutions. "As dealers gear up for the holiday season, the November report points to another period of robust demand and purchase intent from car shoppers."
The data referenced above is based on visits to Dealer.com hosted websites. For more insights and to view the full November DataView report featuring detailed regional breakdowns. please visit and register at www.dealer.com/dataviewsignup_teaser/.
Dealer.com provides an integrated platform of Advertising, Website and Managed Services products which allow OEMs, dealer groups, retailers and agencies to leverage advanced digital technology and data to better engage and connect with their customers. The company practices a deep commitment to its culture of innovation, with a focus on health and wellness, making it one of the most desirable places to work, and a valuable partner for automotive retailers. Based in Burlington, Vermont, Dealer.com is a Cox Automotive brand. For more information, visit www.dealer.com.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 32,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
SOURCE Dealer.com ATLANTA, Nov. 20, 2017 /PRNewswire/ -- www.dealer.com