Cars.com Experience Report Emphasizes Crucial
Role of Dealership Engagement in Building Auto Brand
Reputation
CHICAGO, Nov. 30,
2023 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS)
(d/b/a "Cars Commerce"), an audience-driven technology company
empowering the automotive industry, today revealed the major
automotive brands that have the best reputation amongst consumers.
The results were determined using data from the company's exclusive
Experience Report, which analyzes consumer reviews on its
marketplace about dealerships nationwide. In an era where online
reviews significantly influence consumer decisions on what and
where to buy, the Experience Report delivers insights into both
strong and underperforming areas that impact a dealership's
reputation.
"More than 75% of shoppers on Cars.com are undecided on make and
model — a standout customer experience and stellar reputation are
often the influential tipping point,1" said
Jamie Oldershaw, vice president of
reputation, Cars Commerce. "Based on the 13 million
consumer-submitted reviews on
Cars.com,1 we're able to provide data-driven
insights — across brands, dealership groups and down to the
individual dealer level — about strengths and gaps in the retail
experience. The auto brands that rose to the top of our list have
local retailers across the country that are meeting the rapidly
evolving needs of today's consumers and delivering exceptional
car-buying experiences."
Brands With the Best Experience
Review-driven reputation insights can create significant
competitive advantages for dealers. In the rapidly evolving
automotive marketplace, where brand loyalty is at an eight-year
low2, dealerships turn to consumer reviews to
sharpen their competitive edge. From a comprehensive analysis of
Cars.com's more than 13 million consumer reviews, Mazda and
Subaru — and Acura, Lexus and Volvo
among luxury brands — emerged with the highest overall review
ratings from consumers over a 24-month
period.1
The analysis also drilled down into six critical categories that
impact a brand's overall rating, including pricing transparency,
trade-in experience, transaction speed, financing experience, and
business responsiveness to reviews and vehicle inquiries.
- Pricing Transparency: Affordability and price are a
primary concern, influencing 53% of car
shoppers.3 The brands that consumers found to be
the best when it comes to price transparency were Mini* and
Mitsubishi in the mass-market category, with Porsche holding the
top spot in the luxury segment.1
- Trade-in Experience: Currently, 50% of car shoppers plan
to trade in a vehicle before their next
purchase.4 Brands that stand out for
delivering a positive trade-in experience include Fiat* in the mass
market, and Alfa Romeo*, Porsche and Volvo in the luxury
category.1 The Cars Commerce trade and
appraisal technology from Accu-Trade helps retailers who need a
more efficient and profitable way to source and trade vehicles with
ease.
- Transaction Speed: The process of a quick and seamless
transaction is crucial for ensuring a quality customer experience.
This is particularly evident in the automotive industry, where some
brands have distinguished themselves in providing such experiences.
Notably, Chevrolet, GMC, Mini* and Subaru are recognized for their
efficiency in the mass-market segment.1 In
the luxury segment, Acura, BMW, Porsche and Volvo stand out for
their exceptional customer service during
transactions.1
- Financing Experience: With 44% of car shoppers planning
to get financing in person at the dealer,5 a
positive experience is crucial. When it comes to financing, many
brands stood out: Buick, Chevrolet, Ford, GMC, Honda, Jeep, Kia,
Mazda, Mitsubishi, Subaru and Volkswagen led the mass market, while
Acura, Alfa Romeo*, Audi, BMW, Cadillac, Genesis*, Lexus,
Mercedes-Benz, Porsche and Volvo excel in the luxury
category.1
- Review Responsiveness: Only 40% of dealers respond to
all reviews,6 yet 88% of consumers are inclined
to use a business that actively engages with
reviewers.7 While none of the brands achieved an
experience rating over 50%, the top brands are Honda and Toyota for
mass-market brands and Lexus leading among luxury
brands.1 Equally important to consumers is
responding to consumer online inquiries about vehicles.
- Vehicle Inquiry Responsiveness: In a competitive
industry, the speed of response to customer inquiries can
significantly impact sales. This is particularly true when shoppers
submit emails to dealerships asking about a specific vehicle. The
ability to respond swiftly to these requests is a critical factor
in securing a sale. In the mass-market segment, Mini* stands out in
the lead response category; similarly, Alfa Romeo* has
distinguished itself among luxury
brands.1
The power of reputation in automotive retail emphasizes that
reviews serve as a vital feedback mechanism, reflecting not just
consumer sentiment but also guiding improvements in customer
service.
Cars.com Experience Report
The Cars.com Experience Report is more than a measure of
consumer satisfaction; it's an analytical tool that breaks down
ratings across various aspects of the dealership experience. It
factors in recent reviews more heavily, with those garnering fewer
than five reviews in a 24-month span marked as "Not Yet Rated."
Notably, the report also includes metrics like review response
rates and lead response quality, with a keen focus on financing,
trade-in and price transparency from across review platforms on
Cars.com, DealerRater, Google and Facebook.
Cars.com can help dealers improve their reputation with
ReviewBuilder™ and AutoResponse, cutting-edge solutions that help
dealerships amplify their review volume and quality, ensuring that
their reputation remains current and compelling across all relevant
platforms. Dealers looking for more information can visit Cars
Commerce or reach out to their Cars Commerce rep.
*Brands with a lower volume of reviews (under 10,000)
1Cars Commerce Internal
Data
2S&P Mobility, Aug. 29, 2022
3Cars.com consumer survey, May
24-30, 2023; 1,013 respondents
4 Cars.com consumer survey, Aug.
7 -10, 2023; 997 respondents
5 Cars.com consumer survey, Dec.
10, 2021; 1002 respondents
6 Cars Commerce Analysis, January
2023
7 BrightLocal Local Consumer Review Survey February 2023
About Cars Commerce
Cars Commerce is an audience-driven technology company
empowering automotive that simplifies everything about buying and
selling cars. The Cars Commerce platform includes the flagship
automotive marketplace and dealer reputation site Cars.com,
innovative digital marketing technology and services from Dealer
Inspire, industry-leading trade-in and appraisal technology from
Accu-Trade, an exclusive in-market media network, and powerful and
predictive AI technologies that enable more efficient and
profitable retail operations. Cars Commerce is the essential
partner to stay one step ahead in automotive. Learn more
at www.carscommerce.inc.
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SOURCE Cars Commerce