Automotive

Global Insights Report: Changing Consumer Behaviors and Evolving Business Strategies

Experian's global insights report explores the shift in the volume of online activity and experiences over the past several months resulting from COVID-19.

Published: August 6, 2020 by Guest Contributor
CUVs Gain Market Share While Sweet Spot Grows

Experian recently released its Q1 2020 Market Trends report, which provides insights about the vehicles on the road and the most popular vehicle segments. 

Published: July 21, 2020 by Guest Contributor
Early Impacts of COVID-19: Incentives Boost Market Share for Captive Lenders

Origination data from April and May provide some insight into the more immediate effects of the pandemic on the automotive industry.

Published: July 20, 2020 by Melinda Zabritski
Audio: Make Your Fraud Plan Recession-Ready – Your 90 Day and Beyond Fraud Plan

Our experts discuss how emerging fraud trends and changes in consumer behavior will have long-term impacts on businesses.

Published: July 9, 2020 by Guest Contributor
The Impacts of COVID-19 on E-commerce Retail

Pre COVID-19, operations functions for retailers and banks had not consisted of a remote workforce. Now retail and banking have changed for good.

Published: July 8, 2020 by Guest Contributor
How to Detect and Prevent Fraud Rings

Every few months we hear in the news about a fraud ring that has been busted here in the U.S. or in another part of the world.

Published: July 1, 2020 by Guest Contributor
Audio: Make Your Fraud Plan Recession-Ready – Your 30-60 Day Fraud Plan

Listen in as experts discuss the latest research and insights and how businesses can shape their fraud prevention plan in the short term.

Published: June 29, 2020 by Guest Contributor
Lower Auto Finance Delinquency Rates; Continued Popularity of Used Vehicles in Q1

The automotive industry is in the midst of weathering an unexpected storm due to COVID-19. Here's what the Q1 2020 delinquency rates tell us. Read more.

Published: June 15, 2020 by Melinda Zabritski
Why It’s Important to Invest in New Technology – Even During a Pandemic

COVID-19 and the rush to transition to a remote lifestyle made it clear that many businesses need a refreshed fraud prevention strategy.

Published: June 9, 2020 by Kathleen Peters
Experian Launches Sure Profile

To combat the threat of synthetic identity fraud, Experian recently announced the launch of Sure Profile a revolutionary change to the credit profile.

Published: June 2, 2020 by Guest Contributor
Creating a Safe Car-Buying Experience: A Key Could Be Vehicle History

Including vehicle history reports in online vehicle listings create a more complete picture of the vehicle a consumer is looking at online.

Published: May 26, 2020 by Kirsten Von Busch
Introducing the new CrossCore®

This week, Experian released a new version of our CrossCore® digital identity and fraud risk platform, adding new tools and functionality.

Published: May 8, 2020 by Guest Contributor
Combating Fraud with Experian’s New Precise ID® Model Suite

Combating fraud requires that you differentiate between first and third party fraud so you can determine the best treatment.

Published: May 6, 2020 by Guest Contributor
Experian’s Commitment to Help Dealers Navigate Uncertain Times

Amid the fallout of COVID-19, I often find myself thinking about the impact the pandemic has had and will have on businesses in the coming months—particularly those within the automotive industry. The impact has reached all facets of the industry, leaving dealerships to take unprecedented action. Some have temporarily closed, while many have shifted business priorities to focus on maintenance and repair. Like everyone, we in the automotive industry are concerned about the health and safety of our family, friends and communities.  Much like the rest of small business owners, those that oversee dealerships are also concerned about the wellbeing of their work families. The automotive industry is a pillar of our economy, and dealerships are staples within our local communities. Experian has an unwavering commitment to help the industry navigate these uncertain times and address challenges as they arise. The pandemic has impacted groups of people differently and at different times. It’s important for those within the automotive industry to understand how consumer sentiment and priorities will shift over the coming months, in order to address their most pressing needs. As such, Experian launched a daily survey of the general population to gain insight into shifting consumer sentiment as a result of the pandemic. The survey reveals how consumers are dealing with the outbreak across key industries, including automotive. As of May 4, 2020, only 20 percent of Americans plan on buying a new car, truck, van or motorcycle within the next few months, and of those, only 50 percent plan to continue the purchase as planned. 26 percent plan to delay the purchase a few months. While car shopping may not be a priority for most in the coming months, there are consumers who will need to replace their vehicle sooner rather than later—perhaps their lease is set to expire, or they’ve experienced car trouble. In these instances, it’s important for dealers to be able to connect with these consumers to help them understand the options available to them. With this urgency in mind, Experian is providing dealers with complimentary access to nationwide and local automotive market trends. The information will be updated weekly to help dealers gain insight into current sales trends and website traffic, better understand in-market car shoppers and identify the most effective communications channels. For instance, during the week of April 27, dealer website traffic was down 11 percent from the same time last year. That said, web site traffic has picked back up over the past few weeks.. With the short- and long-term impacts of the pandemic largely unknown, dealerships must adapt quickly. Consumers' vehicle needs will shift based on circumstance, and it’s important for dealers to continually assess the market. We are all adapting to our new environment, and will need to collaborate to find ways to combat the fallout—it’s a difficult time for many, including dealers. The automotive market will recover, and Experian is committed to helping the automotive industry navigate the recovery and ensure car shoppers can find vehicles that meet their needs. To view the Automotive Trends & Marketing Insights and sign up to receive your complimentary local market trends, click here. To view the Consumer Sentiment Index, click here.

Published: May 5, 2020 by John Gray

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