Cars: Web Highly Influential In Purchasing
According to the Fall 2009 Ad-ology Media Influence on Consumer Choice survey, auto manufacturer websites influenced nearly half of all car purchases recently. The survey indicated that online media is now more influential than traditional TV and newspaper media when it comes to influencing a car purchase or leasing decision.
Online video and search results were also influential, and nearly twice as many males as females reported influence from online video. However, traditional media is still influential for car sales. Newspapers were the most influential traditional media overall, particularly for older Americans, Asian, and African Americans.
Social media had the most effect on buyers under the age of 54, females, and higher-income consumers. Car purchasers who use Twitter say social networks influenced their purchase more than users of other social networks. “The growing influence of online media has created the opportunity for price-sensitive consumers to shop beyond their own backyard,” said C. Lee Smith, President and CEO of Ad-ology Research. “Dealerships must promote themselves consistently because they have more competition than might be readily apparent,” Smith said.
In other car news, Volkswagen Groupf of America, Inc. and Stanford University’s School of Engineering unveiled the Volkswagen Automotive Innovation Laboratory (VAIL), the next step in the evolution of the two organizations’ commitment to drive innovation in automotive development.
The Volkswagen Group has donated $5.75 million to the creation of VAIL, including $2 million for building construction and another $750.000 a year for five years to fund research and teaching activities where Stanford researchers and international visiting scholars will work with automotive equipment manufacturers and Silicon Valley experts.
And lastly, in still other car news General Motors has invested another $416 million in Daewoo, of which GM currently owns a majority 50.9% stake in. New stock was actually issued which General Motors then purchased all of. The funds will be used towards repaying mature debts and other uses.
