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Coming to NADA? Learn How to Improve Your Vehicle Details Page and Drive Engagement

Published: February 14, 2022 by Kirsten Von Busch

Woman looking at tablet and phone

The digital car buying experience has continued to become more front-and-center. Car shoppers increasingly rely on online resources to make the most informed purchase, so establishing your digital presence is more crucial than ever to building a solid relationship. But in an industry that has historically relied on in-person interaction to build rapport, how can automotive dealers increase transparency digitally?

It often comes down to the information supplied on your vehicle details page (VDP)—it needs to be as complete as possible. We conducted a study of thousands of online listings to better understand what details are crucial for VDPs, which I’ll be debuting the results of at the NADA Show in March.

In the workshop, Improve your VDP’s, Consumer Engagement and Lead Conversion, you’ll walk away understanding:

  • What vehicle criteria people search for
  • How data impacts their online journey
  • How to quantify the impact of vehicle history reports on lead conversions

With actionable insights guaranteed, you’ll leave this workshop equipped to take your online presence to the next level and continue to build trust with your customers through transparency.

We’d love to see you there!

Workshop Title: Improve your VDP’s, Consumer Engagement and Lead Conversion

Time: Saturday, March 12, 9:00 – 10:00 a.m.

Visit our booth (#2941W) to learn how reliable data insights can improve your VDP results.

Book an appointment now.

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Published: April 24, 2025 by Rathnathilaga.MelapavoorSankaran@experian.com

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Published: March 1, 2025 by Jon Mostajo, test user

Electric vehicle (EV) registrations are re-gaining momentum as a wave of more affordable models hit the market, pushing more consumers than ever to make the transition. According to Experian’s State of the Automotive Finance Market Report: Q3 2024, EVs made up 10.1% of new vehicle financing this quarter, increasing more than 30% from last year. Furthermore, 45% of EV consumers leased their vehicle in Q3 2024—resulting in EVs accounting for 17.3% of all new vehicle leasing. Of the top five transacted EV models this quarter, Tesla accounted for three—with the Tesla Model Y leading at 31.8%, followed by the Tesla Model 3 (14.3%) and Tesla Cybertruck (4.9%). Rounding out the top five were the Ford Mustang Mach-E (3.9%) and Hyundai IONIQ 5 (3.7%). Interestingly, data in the third quarter of 2024 found that consumers’ financing decisions vary based on the EV model they’re looking at. For example, 76.5% of consumers purchased the Tesla Model Y with a loan and 13.1% opted for a lease; on the other hand, only 8.5% of consumers bought the Hyundai IONIQ 5 with a loan and 78.7% chose to lease. Despite the rising interest in leasing as more incentives and rebate programs roll out, some consumers still prefer to purchase their EV with a loan. Understanding financing patterns based on different models is key for professionals as they cater to the diverse preferences and determine the long-term viability of certain EVs and their potential for leasing renewals. Snapshot of the overall vehicle finance market As the finance market continues to stabilize, it’s notable that the average interest rate for a new vehicle fell year-over-year, going from 7.1% to 6.6%, respectively. However, average new vehicle loan amounts increased $736 from last year, reaching $41,068 in Q3 2024, and average monthly payments went from $732 to $737 in the same time frame. On the used side, average interest rates saw a slight uptick to 11.7% in Q3 2024, from 11.6% last year. Meanwhile, the average loan amount dropped from $1,195 over the last year to $26,091 this quarter and the average monthly payment declined from $538 to $520 year-over-year. With the overall market shifting and EVs re-sparking interest, automotive professionals should leverage how consumers are purchasing their vehicles based on average payments and the fuel type as more incentives are being offered. Monitoring these insights can unlock opportunities for tailored financing solutions that meet the needs of consumers as preferences continue to evolve. To learn more about automotive finance trends, view the full State of the Automotive Finance Market: Q3 2024 presentation on demand.

Published: December 5, 2024 by Melinda Zabritski