autobytel
The Autobytel Process
Current Process: The customer connect Autobytel.com. A Web Interface’ that connects customers with the cars offered by the dealerships + customized build-up + value-added services is offered. Various dealers are contacted as per the geographical area and the dealer is selected. The function of the Autobytel is to provide information to buyers to purchase new and used cars. Some other information.
Founder- Pete Ellis
Launched autobytel.com in 1995
Market Cap- 31.95 M
Positioning statement- Your Lifetime Automotive Advisor™
Providing information to purchase new and used cars
Connected thousands of dealers nationwide with motivated car buyers
In 1998 it launched CyberStore - a site where consumer could shop for pre-owned vehicles online
Its network of automotive sites, including Car.com℠, DealershipJobs.com and MyGarage.com.
The DRT and other sites and Autovintage were added later on.
Major Issues:
Major issue- Dealer’s turnover, Internet Companies, Shrinking profits and Taking advantage of poor dealer reputation.
Company had approx. 3000 dealers in Northern America in major metropolitan areas, with major expenses on marketing and sales expenses and ongoing training and support provided.
The company was stuck in the way business is done , unable to generate revenues and further growth. They have accumulated losses and they are trying hard to battle with the competition.
Car-buying tended to be both a thoughtful and emotional process (because it was 2nd largest purchase after Home).
Industry had a poor reputation among consumers; in fact, fewer than 50% of customers who purchased a vehicle ever returned to that dealership to either purchase another vehicle or to get service.
In addition, while 59% of new car buyers reported feeling loyal to the vehicle they purchased, only 13% reported feeling loyal to the dealership where they purchased the car.
Other concerns
The company is spending way more (almost 1 ½ times) on
Current Process: The customer connect Autobytel.com. A Web Interface’ that connects customers with the cars offered by the dealerships + customized build-up + value-added services is offered. Various dealers are contacted as per the geographical area and the dealer is selected. The function of the Autobytel is to provide information to buyers to purchase new and used cars. Some other information.
Founder- Pete Ellis
Launched autobytel.com in 1995
Market Cap- 31.95 M
Positioning statement- Your Lifetime Automotive Advisor™
Providing information to purchase new and used cars
Connected thousands of dealers nationwide with motivated car buyers
In 1998 it launched CyberStore - a site where consumer could shop for pre-owned vehicles online
Its network of automotive sites, including Car.com℠, DealershipJobs.com and MyGarage.com.
The DRT and other sites and Autovintage were added later on.
Major Issues:
Major issue- Dealer’s turnover, Internet Companies, Shrinking profits and Taking advantage of poor dealer reputation.
Company had approx. 3000 dealers in Northern America in major metropolitan areas, with major expenses on marketing and sales expenses and ongoing training and support provided.
The company was stuck in the way business is done , unable to generate revenues and further growth. They have accumulated losses and they are trying hard to battle with the competition.
Car-buying tended to be both a thoughtful and emotional process (because it was 2nd largest purchase after Home).
Industry had a poor reputation among consumers; in fact, fewer than 50% of customers who purchased a vehicle ever returned to that dealership to either purchase another vehicle or to get service.
In addition, while 59% of new car buyers reported feeling loyal to the vehicle they purchased, only 13% reported feeling loyal to the dealership where they purchased the car.
Other concerns
The company is spending way more (almost 1 ½ times) on