Dealership Archives | gotrader.ca

Canadian Automotive Retailers Recognized as 2024 GoTrader Best Priced Dealer Announced

Emma Silveira — Fri, 26 Apr 2024 18:16:51 +0000

Recognizing Canadian Automotive Dealerships for their Commitment to Fair and Transparent Pricing

TORONTO, ON – April 26, 2024 — gotrader.ca, Canada’s largest and most trusted automotive marketplace, announced the winners of its annual GoTrader Best Priced Dealer Awards. This esteemed recognition, now in its fifth consecutive year, honours the country’s top dealerships for their commitment to consistently providing great value and pricing transparency for Canadian consumers shopping gotrader.ca.

Real-time pricing data identifies dealerships with the highest percentage of “Good” or “Great” price badges across over 400,000 inventory listings on gotrader.ca during the qualifying period to determine the winners, by province. This exclusive recognition is being awarded to almost 300 automotive retailers nationwide.

“Every year our GoTrader Best Priced Dealer Awards recognizes our dealer partners across Canada for their commitment to offering Canadian car shoppers on gotrader.ca the best deals in the country,” said Ian MacDonald, Chief Marketing Officer at gotrader.ca. “This program celebrates Canadian dealership operators that continuously align to our brand promise of building trust and confidence with Canadian car shoppers.”

Award winning retailers will receive an assortment of physical and digital assets to display proudly in their dealership and across marketing and promotional efforts, along with a badge applied to their Vehicle Details Pages (VDPs) and Dealership Page on the GoTrader Marketplace to amplify their recognition in the 2024 class of GoTrader Best Priced Dealers.

AutoTrader’s mission is to evoke instant consumer confidence in dealerships offering the best prices and to support Canadians with price guidance during their car purchase journey. The dealer awards program stands as one of the many initiatives that reinforce the trusted purchase environment available to Canadian car shoppers on gotrader.ca.

Visit go.trader.ca/DealerAwards to see the complete list of award winners and for more information on the program.

About AutoTrader

GoTrader is the largest and most trusted automotive marketplace in Canada. Offering the largest inventory of new and used cars, GoTrader boasts hundreds of thousands of new and used vehicles for sale to Canadians across the country. GoTrader receives over 25 million monthly visits to the marketplace and the GoTrader app has been downloaded by more than 7 million Canadians. Visitors can buy or sell cars, trucks or other motorized vehicles quickly, easily, and confidently. Buyers can search based on vehicle model, make, colour and geographic location to find the deal that is right for them. GoTrader is also an online destination for automotive research and entertainment, featuring news, reviews, videos, and podcasts from award-winning automotive journalists. Follow GoTrader on LinkedIn, Facebook, Instagram, TikTok and YouTube.

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Media Inquiries:

Ciara Dalziel
LABOUR Creative
E: ciara.dalziel [at] labourcreative.ca
T: 416.564.6918

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The Year That Was: 2023 Canadian Automotive Trends

Emma Silveira — Fri, 29 Dec 2023 13:19:35 +0000

With the end of 2023 fast approaching there’s no better time to reflect on the top trends in Canadian automotive and how we expect things to shape up heading into the new year based on data observed through the gotrader.ca marketplace as well as leading Canadian automotive market research firms. Let’s deep dive our observations and insights from 2023 and unpack what it means heading into 2024!

Inventory Supply on the Mend

Examining new and used inventory movement throughout the year, new car supply has continued to increase since August 2022, reaching comparable levels from the halfway mark of 2021.¹Early modelling also suggests a modest increase in new vehicle inventory in the coming years. Consequently, we expect to see a rise in used inventory in 2024, spurred by a lift in new car sales and a slight drop in demand for used vehicles. However, from 2025 onward, the impact of reduced new car sales between 2020 and 2022, a result of fewer lease returns, could tighten used car inventory supply and potentially impact prices, particularly if compounded by strong demand and an overall improvement to macroeconomic factors.

Purchase Intent Remains High & Market Growth is Projected to Persist in 2024

Since 2020 our Canadian car shopper sentiment study indicates sustained intent to purchase a vehicle in the next six months, driven by interest in new cars following an improvement to inventory supply.²The overall appeal of private vehicle ownership remains high, with 83% of commuters relying on private vehicles as of May 2023, influenced by a continued aversion to public transportation and ride-sharing services.³ Despite a slight recent slowdown in used car sales, observed in early August, the market overall is projected to grow in 2024.

Electric Vehicle (EV) Market Remains Resilient Despite a Temporary Dip in Consideration

Our annual Electric Vehicle (EV) research shows 12-point dip in consideration over twelve months, from 68% in March of 2022 to 56% one year later.⁴ Objectively speaking, unique circumstances influenced our 2022 EV study, as it coincided with the conflict between Ukraine and Russia and a spike in gas prices, resulting in a temporary surge in EV demand. While EV sales are increasing, supply outpaces demand, with a significant 800% year-over-year increase in new Battery Electric Vehicle (BEV) inventory.⁴

Transforming Canadian Car Shopper Preferences

Research and data of Canadian car shopper tendencies and trends underlines the emergence of a preference for transactional features via access to online shopping tools and services to complete more of the car buying journey online.² Growing numbers of consumers are signalling that traditional processes are in need of a re-alignment to cater to differences in the way people shop for cars. To help dealerships support consumers seeking even more online car shopping options, we brought gotrader.ca Deal Builder to market, which provides shoppers the flexibility to build a deal directly from Vehicle Detail Pages (VDPs), resulting in high intent, conversion-ready leads for dealer partners.

Prices Remain Steady with Significant Corrections Unlikely

Following a continuous two-year climb, new car prices saw a slight decline in October of this year, signalling a potential peak due to oversupply.¹ Despite pent-up demand for new cars and the inflow of more expensive electric vehicles, significant corrections in pricing remain unlikely. Conversely, used prices started decreasing in July, prompted by new car sales taking off, the subsequent lift to in trade-ins, and a modest drop in demand for pre-owned vehicles. Though the used car market may experience short-term fluctuations based on a supply and demand imbalance, substantial price corrections are not anticipated.

While the Canadian automotive landscape is experiencing shifts in consumer demand and fluidity to inventory supply, the overall outlook for the upcoming year remains a positive one. With sustained demand for private vehicle ownership and stout near term vehicle purchase intent, the market is expected to show positive year-over-year growth in 2024.

Watch our latest GoTrader Carology Talks with Ian MacDonald, Chief Marketing Officer at AutoTrader, and Baris Akyurek, Vice President of Insights and Intelligence, to hear more about the top trends in Canadian automotive across 2023 as well as an outlook for the forthcoming year!

Source: (1) GoTrader Price Index Report, 2023. (2) Car Shopper Perceptions & Intentions Research Study, DIG Insights, May 2023, (n=305). (3) Statistics Canada, May 2023. (4) Electric Vehicle Research, March 2023, (n=1,332), n=305

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GoTrader Carology Talks: Canadian Automotive Trends & Future Projections – 2023 Year in Review

Emma Silveira — Wed, 20 Dec 2023 17:00:54 +0000

In our final GoTrader Carology Talks of the year, Ian MacDonald, Chief Marketing Officer and Baris Akyurek, Vice President of Insights & Intelligence at gotrader.ca discuss the top trends and key insights that have shaped the Canadian automotive landscape in 2023 and what’s to come in 2024. Tune in to gain valuable insight and get ahead of the game as we head into the new year!

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Maximize Success & Drive Lasting Customer Relationships with Effective Lead Management

Emma Silveira — Wed, 06 Dec 2023 21:05:46 +0000

Successfully managing leads is the cornerstone of a sound dealership experience. A lead represents the first “real” touchpoint a car shopper has with your dealership, offering a glimpse into the quality of service. In today’s fast-paced digital world, where consumers initiate contact online well before visiting a dealership, rapid response, maintaining engagement, and equipping your team with the right tools for each channel is quintessential to your success.

Whether a lead is generated through email, lead form, live chat, text message, phone call, or even a dealership walk-in, a proactive approach to responding and engaging is vital. Regardless of the channel or source, each interaction provides an opportunity for pipeline development, lead nurturing and sales growth. We’ve broken down three key areas to help our dealer partners craft a strong lead handling and management strategy.

Speed

Did you know approximately 3-in-4 buyers contact a dealer through various channels before setting foot in a showroom?¹ In the contemporary digital landscape, where information moves at the speed of light, businesses must adapt and respond with equal swiftness. This need for rapid response is particularly crucial in the automotive industry, where potential customers often explore their options online before visiting a dealership. Follow the tips in our Lead Management Best Practices Guide to develop an effective response strategy.

Engagement

Engagement serves as the groundwork that transforms leads into satisfied customers. It’s about offering answers and alternative solutions. Even when a customer inquires about a sold vehicle, consider it an opportunity rather than a dead end. To cultivate engagement, and kickstart lead nurturing efforts, connect with the prospect three times within the first 24 hours with new information, and continue communicating with the lead past the 30-day mark, adjusting your strategy as needed. Prospect engagement becomes vital to long-term success by cultivating trust, securing loyalty, and maintaining friendly, ongoing dialogue.

Tools

Equipping your dealership staff with appropriate lead management tools facilitates efficient and successful management of leads. These tools ensure that every lead is promptly attended to and staff interactions with prospects are meaningful and productive. Some tools to consider using at your dealership include a Customer Relationship Management (CRM) tool, such as Activix CRM and Consumer Insights as well as Enriched Lead, offered in AutoTrader’s Used Vehicle Listings – Superior. Learn more about the benefits and uses of these tools in our Lead Management Best Practices Guide.

Lead Management by Channel

Phone

When responding to leads, the primary goal is to secure appointments and maintain a high level of engagement. When handling phone leads, it is imperative to answer all incoming calls within the first few rings. Missing a call could mean losing a prospect to a competitor. When you answer the call, ask insightful questions that deepen your understanding of their inquiry, to foster a conversational interaction rather than providing brief, one-word responses. For effective response tactics, consult our Lead Management Best Practices Guide.

Email or Lead Form

Automated responses are a thing of the past. Rather, aim for a real person to reply to all e-leads within five minutes or less. To keep leads engaged, ensure you address their inquiries, ask follow-up questions, and provide supplementary resources, including reviews and testimonials, custom accessories, your dealership’s appraisal process, and more. When developing your email lead management process, consider that many customers make purchasing decisions 30 days or later into their journey, so be prepared to adjust your strategy at the 30-day mark to sustain engagement.

Chat or Text Message

Regardless of the channel or source through which leads are generated, it is essential to respond promptly and engage with all prospective customers. Many chat platforms provide insights into the specific vehicles that pique their interest; use this information to ask relevant questions about what they seek. For more content examples and tools to manage chat leads, consult our Lead Management Best Practices Guide.

Dealership Walk-Ins

On average, consumers visit three dealership lots during their car purchase journey.¹ Your lead management process can influence getting your dealership on a car shopper’s shortlist. While most prospects visit a dealership with an appointment, knowing how to handle walk-ins is crucial to capture all potential leads. Start by matching walk-ins with a suitable dealership representative, and promptly capture their contact information for entry into your Customer Relationship Management (CRM) platform so that you can follow up with them after the showroom visit.

Lead handling and management serves as the initial point of contact between a car shopper and your dealership, setting the expectations for their experience as a customer. Our Lead Management Best Practices Guide offers fulsome insights into crafting a surefire response strategy as well as implementing effective engagement tactics tailored to each communication channel, to put your dealership on the front foot to enhancing your lead management process through a personalized experience for every lead – ultimately driving success in the competitive automotive landscape.

Source: Dig Insights, Vehicle Path to Purchase, July 2022, (n=1,369).

Lead Management Best Practices

Your Ultimate Guide to Lead Handling & Management to Maximize Success & Drive Lasting Customer Relationships

Learn the fundamentals of building a strong lead handling and management strategy with our complimentary best practices guide.

Download

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The 411 of Economic Impacts on Vehicle Purchase Intent

Jil McIntosh — Tue, 11 Jul 2023 17:40:01 +0000

With economic uncertainty top of mind for both car shoppers and dealers, we sought out to understand where consumers currently stand regarding the economy and their vehicle purchase intentions. Dealership operators well apprised of consumer outlook as well as the concerns of consumers shopping for a car have an opportunity to tailor the consumer experience to align to their unique needs and possible apprehensions.

Overall, the likelihood of consumers intending to purchase a vehicle this year has substantially increased, with consumer research indicating that purchase intentions have continued to rise since March of 2022. Despite sustained car shopper concerns about the economy overall, both now and over the next six months, consumers demonstrate a positive view of their current and future personal financial position.

According to a recent DIG Insights research study that surveyed consumers across Canada, 28% of Canadians intend to buy a vehicle in the next six months. That’s up four points from 24% in October of 2022, and a considerable rise from the baseline of 16% in May 2020.

Pent-up demand resulting from pandemic-fuelled lockdown measures remains present, and car shoppers are ready to act on it. More than half of vehicle purchase intenders somewhat or strongly agree that now is a good time to make a major purchase, and 84% are confident in their current financial situation. That confidence level is expected to hold over the upcoming six months, as 12% believe their financial situation will improve a lot; 37% say it will improve a little; and 36% think it will remain unchanged.

While more consumers intend to buy a vehicle and are positive about their finances, there are issues for them to overcome from the very onset of their car buying journey. Among the top economic worries affecting their decision to purchase, the highest is inflation (80%), followed closely by high vehicle prices (79%), and high gas prices (75%). Elevated interest rates (73%) and inventory shortages (69%) round out the responses. These factors result in consumers spending far more time comparison shopping and could lead to a reduction in their vehicle purchase budget or even delay the purchase entirely.

Although dealerships aren’t in a position to alter or impact most of these factors, they can finetune their outreach to aid shoppers with stickhandling the issues. When vehicles are advertised on gotrader.ca with prices that jive with fair market value, a “Great” or “Good” price badge is populated to the inventory listing. Price transparency builds confidence and trust with car shoppers, particularly with those shopping on a budget. Additionally, highlight fuel efficiency ratings for gas-sipping models or electric vehicle options, and advertise every unit you have in stock, to ensure shoppers can browse a variety of vehicles without arousing any fear of inventory scarcity.

Making your dealership stand out is essential, particularly in consideration of the significant rise in early-stage vehicle shoppers visiting online automotive marketplaces as a top source in the car buying journey. Among survey respondents, 84% of shoppers went online as part of the process, up from 78% in 2022. Of the available online sources, 42% visit online automotive marketplaces, which is up from 33% in 2022. If your dealership does not have a robust and fulsome online presence, you’re negatively impacting your ability to reach a large audience who want to buy what you have to sell.

In consideration of the survey findings, it’s more important than ever before to get your used inventory listed on online automotive marketplaces. Those at the outset of their car buying journey visit an average of 3.8 sources when shopping, but the sources used depend wholly on what they’re considering. Among new car shoppers, 48% visit manufacturer sites, versus 39% using online automotive marketplaces. With consumers interested in used vehicles, 55% frequent automotive marketplaces, while 33% browse automaker sites.

Overall, car buyers remain active and primed to purchase – so do your part to ensure they’re making their way to purchase through you!

Key Takeaways

Despite impacts to the economy, purchase intentions are rising among car shoppers
Used car intenders use automotive marketplaces as their top online source, making it imperative that your inventory is available for them to browse
Consumers have high confidence in their current financial situation, understanding their financial confidence is key to ensure you can share the most relevant and attractive payment options
Understanding what could impact a purchase can help seal the deal, be transparent with the descriptive text you populate to your listings and seek to gain a firm hold of consumer concerns or hesitations about finalizing their purchase

INFOGRAPHIC: CAR SHOPPER PERCEPTIONS & INTENTIONS

Click below to download the GoTrader Car Shopper Perceptions & Intentions infographic.

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Source: DIG Insights Car Shopper Perceptions & Intentions Research Study, May 2023, n=305

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Carology Bitesize: 5 Key Findings – GoTrader Vehicle Path to Purchase Research Study

Milan Brankovic — Tue, 15 Nov 2022 16:14:09 +0000

Car shoppers follow a path throughout their buying journey that is constantly changing and evolving. Taking the time to understand the consumer mindset is an essential component to finetune your marketing and sales processes while addressing the needs of your customers.

In this episode of GoTrader Carology Bitesize we are joined by Tiffany Ding, Senior Manager of Insights & Intelligence at gotrader.ca, to examine the key findings and takeaways from our Vehicle Path to Purchase Research Study, which uncovers today’s car buyer’s journey, from desire to purchase.

Want to learn more? For a complete breakdown of the results from the study, please click here.

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GoTrader Carology Talks: Forces of Change – Supply & Electric

Milan Brankovic — Tue, 01 Nov 2022 13:07:57 +0000

The automotive industry is quickly advancing toward a new world that will bring Electric Vehicles (EVs) to the forefront. By 2035, the largest automotive markets are predicted to be fully electric. Change is coming, and our plan is to embrace it while helping your dealership adapt to continue achieving success!

Our first on-demand GoTrader Carology Talks: Forces of Change – Supply and Electric covers everything you need to know about the transition to EVs across the industry. This episode is hosted by Ian MacDonald, Chief Marketing Officer at gotrader.ca and our seasoned GoTrader Carology guest, Nick King, Insights Director at GoTrader UK.

Nick bring’s you up to speed on the latest EV trends and consumer research insights, the road to 2030, and the prevalent opportunities for car dealers like you! Watch the full video below and find out how your dealership can prepare to serve the EV buyers of today and tomorrow!

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GoTrader Carology Bitesize: July 2022 Price Index

Sabrina Arruda — Fri, 09 Sep 2022 18:48:28 +0000

If you’ve attended one of our popular Carology events in the past, you’ll know they are focused on sharing the latest trends and insights from experts in Canadian automotive. With this all-new video series, we are delivering the same great insights shared at our larger scale GoTrader Carology events, however, at a more regular cadence and in a more digestible format, to better align to the busy schedule of Canadian car dealers. Our primary focus is to provide you with updates on key aspects of Canadian automotive to ensure you are in the know.

In this episode we’re joined by Baris Akyurek, Director of Marketing Intelligence at gotrader.ca. Baris provides an update on the GoTrader Price Index, shedding light on the latest vehicle pricing trends from the report.

gotrader.ca PRICE INDEX

For a fulsome view of our latest GoTrader Price Index, click here to get your copy of the report.

DOWNLOAD

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Activix Receives Strategic Investment to Fuel Growth

Sabrina Arruda — Thu, 27 May 2021 16:02:17 +0000

Investment will increase addressable market and accelerate the development of new offerings

TORONTO, ON — May 27, 2021 — Activix, a leading provider of Customer Relationship Management (CRM) solutions for the automotive industry, today announced that it has received a strategic investment from TRADER Corporation, a portfolio company of private equity investment firm Thoma Bravo.

“This investment will accelerate our growth plans in Canada, fast-track our product development, and enable us to serve our customers even better,” said Olivier Tétrault, President and Founder of Activix.

Activix boasts the most innovative CRM system in Canada, allowing car dealers to consolidate inbound lead management with showroom and salesperson activity into one streamlined dashboard. Both sales and service efficiency are enhanced via the technology, while Activix also offers innovative training solutions to dealership employees.

“Activix has built a truly transformational CRM product which enables car dealerships of all sizes to significantly improve their efficiency and sales conversions via robust technology backed by dedicated customer support,” said Sebastian Baldwin, President and Chief Executive Officer at TRADER Corporation. “We look forward to helping Activix scale their business, as well as exploring the opportunities to help our dealer partners be more effective by leveraging synergies between Activix and TRADER’s other software offerings. Those include TAdvantage websites, 1-SOURCE inventory management and Motoinsight Digital Retailing, among others.”

About Activix
Founded in 2012, Activix entered the Canadian automotive landscape as a training and consulting company for dealerships from coast to coast. The company took its initial step towards building the most innovative CRM on the market in 2014, with the launch of WebBost, an industry-first application capable of converting internet leads into outbound calls. WebBoost quickly became the most important division of the company, paving the path for future growth. Fueled by swift introductions of CRM features, integrations and never-before-seen modules, Activix rapidly grew to over 500 satisfied dealership clients, with 4,600 users, Canada-wide. Today, its platform is certified by over 15 automotive manufacturers. The company is committed to offering the most complete CRM platform for Canadian dealership operations, coupled with unparalleled reporting. For more information, visit www.activix.ca.

About TRADER Corporation
TRADER Corporation is the leading digital marketing partner for Canadian automotive retailers and manufacturers. With over 25 million visits a month and more than 6 million total mobile app downloads, TRADER’s largest automotive marketplaces – gotrader.ca and AutoHebdo.net – are the #1 source for all things automotive in Canada. The company offers retailers and manufacturers access to a robust audience of new and used car shoppers, best-in-class digital advertising, website and software solutions, and rich data insights. TRADER Corporation is the first to offer a completely integrated digital retail experience for consumers and dealers on a major Canadian automotive marketplace. For more information, visit go.trader.ca. Follow TRADER on LinkedIn, Facebook and YouTube.

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For further information or to schedule an interview:

Gage Knox
gage.knox@wearecoop.ca
647-537-7017

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Webinar Recording: 2021 Automotive Retail Website Trends

Sabrina Arruda — Wed, 26 May 2021 19:08:51 +0000

A powerful and informative dealership website, leveraging the latest best practices, is essential to engage and convert car shoppers browsing your virtual lot – now more than ever. During our webinar, 2021 Automotive Retail Website Trends, our resident dealership website expert, Madeleine Dubé, shared the top features and functionalities that automotive retailers should aim to deploy within their online presence this year.

Some of the key focus areas during the webinar included shifts in consumer preferences, the sizeable shift to online shopping, and website accessibility standards. From the continued importance of a mobile-first web design to the rise and dominance of video, Madeleine explains all of the features that should be included in your dealership website to ensure that you are on top of the latest trends.

Get an obligation-free demo of our TAdvantage Dealership Website platform to see first-hand how we deploy all of the features discussed in our webinar.

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