Wednesday, Jan. 16, 2013, 01:55 AM UPDATED 2:25 AMBy Auto Remarketing Staff
AutoTrader.com’s Trade-In Marketplace has seen a lot of action since its introduction into the market in 2009.
And the tool for dealers and consumers reached an important milestone this week, claiming its five millionth offer — generated this Monday.
“Reaching this big milestone in such a short amount of time is a testament to how well received the tool has been by both consumers and dealers,” said Juan Flores, Trade-In Marketplace director of operations at AutoTrader.
“We at AutoTrader.com are working diligently to smooth the transition from online shopping to offline purchasing, and the Trade-In Marketplace provides the transparency needed to improve the trade-in process for dealers and shoppers alike,” he continued.
Just last year, more than 429,000 consumers redeemed their Trade-In Marketplace offers at participating dealerships, according to independently fielded consumer follow-up surveys.
Furthermore, approximately 50 percent of consumers who redeemed their offer indicated that they traded in the vehicle for a replacement, instead of selling the car to the dealership and walking away with a check, the company reported.
And for dealers, the company contends the site provides “third-party credibility on trade-in valuations, while also providing them with a cost-effective way to source pre-owned inventory.”
And it seems dealers would agree.
Domenic Siravo, who is the vice president/partner at Pacifico Marple Ford Lincoln in Broomall, Pa., was reported saying, “Trade-In Marketplace is taking the hardest part of selling a car and making it easier. Short and sweet, people don’t trust me, but they will believe the Internet and AutoTrader.com. It’s all about making the customer feel comfortable and letting them know they are getting a fair deal. Trade-In Marketplace does that.”