ATLANTA—October 3, 2018 – Hearst Autos, parent to Car and Driver, Jumpstart Automotive Media, Road & Track, and enthusiast-driven content studio, the blend line, today announced two new trade-in tools for consumers and dealers. These new valuation tools from Car and Driver, the most trusted brand for automotive content, takes the trust level between consumers and dealers to a whole other level.
Trade-In One, powered by Black Book®, offers consumers a simple accurate trade-in value in under 30 seconds. With a few keystrokes aided by intuitive suggestive search, consumers can find their trade-in vehicle quickly. By entering the condition of their car, consumers receive a single price for their vehicle in their local area. The tool then provides consumers with clear next steps to connect with the dealer. “Our consumer surveys are telling us that our value shopping tool saves consumers time shopping online and time at the dealership. The immediate valuation encourages consumers who are in the process of shopping for a car, to trade in their vehicle now rather than later.” said James Tom, senior vice president, dealer network and enterprise sales. In fact, both consumers and dealers feel that the trade-in component is one of the most critical in the purchase process. In a study conducted by Jumpstart Automotive Media, consumers said that an adversarial trade-in experience is the second-most likely scenario to kill a possible deal. Nearly half (47%) of those polled said they need the dealer’s offer to be between $501 - $1000 of their research quote for it to be acceptable.
Trade-In Range, powered by Black Book®, combines two of the most trusted names in automotive shopping offering consumers an easy to use trade-in tool that is mobile friendly and delivers a trade-in range offer to consumers in under 20 seconds. The new tool educates the consumer and provides clear next steps to connect with the dealer.
“Dealers are experiencing a 30% increase in leads and a 59% lift in mobile leads compared to the previous tool.” Said Tom. Trade-In One is supported by a lead-nurturing email campaign from Car and Driver encouraging the consumer to engage with the dealership. Both products are available in dealer showroom apps.
About Hearst Autos
Hearst Autos delivers qualified, in-market car shoppers directly to dealer websites through the credibility and trust of Car and Driver’s research, listings, and shopping tools, and the scale and performance of Jumpstart Automotive Media’s audience of more than 20 million unique monthly car shoppers. Jumpstart Automotive Media’s rich data coupled with its proprietary technology solutions positions a dealer’s customized display advertising in front of the uniquely matched in-market shopper wherever they’re shopping across Jumpstart’s diverse portfolio of publishers (Car and Driver, U.S. News Best Cars, J.D. Power Cars, NADAguides, Autoweek.com, Autobytel, Autolist.com, Daily News Autos, LeftLaneNews.com, CarSoup, CarBuzz, CarStory, VehicleHistory.com, and iSeeCars). With industry- leading consumer data, insights and analytics, Hearst Autos engages the consumer car shopper from inception to the point of purchase decision.
About Car and Driver
Founded in 1955, Car and Driver is the definitive voice for in-market car shoppers, enthusiasts, and industry leaders. With an audience of more than 12 million unique visitors per month, Car and Driver is dedicated to delivering expert content and leading-edge insights on all things related to new, used, and pre-owned vehicles. With the most comprehensive vehicle testing, research, and reviews in the automotive category, Car and Driver delivers the most trusted car shopping experience for consumers and deep engagement for auto manufacturers and dealers. Car and Driver extends across all platforms including web, mobile, iPhone/iPad apps, events, social media, and digital products.