Featuring independent, third-party data for consumers higher in the shopping funnel promises to accelerate purchasing decisions
Austin, Texas – April 29, 2015 – CarStory, the industry’s largest provider of crowdsourced data and analytics on used vehicles, today announced the integration of its award-winning CarStory Market Reports into the Autoblog marketplace, an AOL automotive channel.
CarStory Market Reports help consumers make more informed buying decisions by providing comprehensive vehicle data, including the features most valued by other consumers, pricing validation, and more. Currently available to consumers on over 3,000 dealer websites, the Autoblog integration marks the first time the CarStory Market Reports are available to consumers directly on an online marketplace, giving consumers the benefits of this unique crowdsourced vehicle preference data as they begin their vehicle shopping process.
“CarStory Market Reports’ insight into the whole ‘story’ of a vehicle in one easy-to-view report offers a unique tool to consumers as they shop, eliminating the need for cross-comparisons on multiple websites, accelerating the purchase decision and, importantly, keeping them engaged on the marketplace,” said Chad Bockius, CMO of CarStory. “Our reports should result in more qualified leads coming through the Autoblog marketplace. According to a recent J.D. Power and Associates study, used-vehicle shoppers who are satisfied with their online research experience on a third-party automotive website are 10 times more likely to request information about a vehicle from a dealer than shoppers who have a poor experience.”
Today’s used car shoppers spend a huge amount of time on research, often accessing over 24 research touch points before making a decision. CarStory Market Reports aim to streamline this process by giving consumers the information they need all in one place.
In a recent survey, CarStory discovered that 67% of consumers want to understand a vehicle’s pricing relative to similar models in their area and 73% of consumers want to better understand the value of the vehicle they are considering. CarStory Market Reports fill this information gap, offering local, real-time insights on every vehicle, including detailed market comparisons, mileage assessments relative to similar vehicles on the market, as well as the vehicle features valued most by other consumers. Furthermore, the reports analyze the vehicles consumers are comparing online and intelligently recommend alternatives that are most likely to convert that shopper – an industry first.
“It’s clear that used car shoppers require better research tools and reliable, third-party data to make their shopping experience less arduous,” said Chris Eschenburg, Vice President and GM of Autoblog. “We’re pleased to be the first used car marketplace to integrate CarStory Market Reports into our vehicle listings and feel confident they will help spur a revolution in how consumers shop online for used cars.”
CarStory Market Reports’ insights are generated from a combination of more than four million real-time used vehicle listings and crowdsourced data from over eight million searches a week that help move consumers from online shoppers to on-the-lot buyers. The reports educate car buyers on the features most valued by other consumers and validates pricing with real-time market data.
CarStory is the industry’s largest provider of crowdsourced data and analytics on used vehicle pricing and preferences. CarStory Market Reports synthesize over four million real-time used vehicle listings with crowdsourced data from over eight million searches a week to produce unique insights that help move consumers from online shoppers to on-the-lot buyers. By uncovering facts, features and competitive differentiators that make each vehicle unique in any given market, CarStory offers dealers and consumers the confidence they need to condense the sales process and walk away happy. A merchandising tool and lead source for websites, CarStory Market Reports are free to auto dealers. Learn more at CarStory.com
Vast is the premier provider of big data solutions for life’s biggest purchases. Vast’s industry-leading big data platform and applications are currently in use at many of the largest automotive, real estate and travel businesses in the world. Vast serves Global 1,000 companies, including AOL and Southwest Airlines. Learn more at Vast.com.
Melanie Webber, mWEBB Communications, (949) 307-1723, firstname.lastname@example.org
Cassandra Cavanah, mWEBB Communications, (818) 397-4630, email@example.com
 J.D. Power 2015 Third-Party Automotive Website Evaluation Study