The used-car industry recorded roughly 42 million customer transactions in 2006. Of that, franchised dealers captured approximately 34% of the market, independent dealers 30%, and private-party transactions 35%.

These days, most dealerships have already become serious about selling new vehicles online. Reliable estimates show, however, that 7 of 10 Internet users

researching automotive purchases have purchased or will purchase a used vehicle online. It is clearly time to get serious about using the internet to assist your pre-owned department.

Additional automotive industry statistics are telling:

• More than 80% of consumers surveyed in 2007 used the web during the buying process. This is twice as many as in 2004 and four times as many as in 2002.
• A 2006 study by YAHOO reported that nearly 64% of consumers visit web sites that allow them to compare the advantages and disadvantages of vehicles.
• 45% of the 176 million internet users in the U.S. visit automotive web sites during a three-month period; that's more than 26 million people visiting automotive web sites each month!
• Over 80% of internet prospects end up purchasing a vehicle other than the one they were initially looking for.
• More than 40% of new vehicle buyers submit leads through multiple web sites.
• More than 75% of car shoppers come to the web to find vehicle information, including prices and photos.
• Consumers now spend more than a third of their media time online.

*Statistics and trend sources: DealerNews, Yahoo, Edmunds, AAISP, Wards and Jupiter Research.