20160301-罗兰贝格-Online_Sales_of_New_Cars_29页_1mb

Summary of "Online Sales of New Cars" Study

Core Content

This document presents an analysis of the evolving landscape of online car sales in Germany, highlighting the changing customer behavior, the current market structure, and the implications of new entrants in the industry.

Main Views

• Changing Customer Behavior: Customers are increasingly expecting online experiences similar to those in other retail sectors. The digitization of other industries has set new expectations for convenience, transparency, and seamless integration in the car sales process.

• Online Sales Growth: Online sales of new cars are expected to grow significantly. Currently, about 10% of new cars are sold online, and market experts predict this number to at least double by 2020.

• Customer Types: Two main types of customers dominate the online car market:

  • "The informed saver": Focuses on price comparison and is less interested in personal service.
  • "The multi-channel customer": Seeks convenience and is more interested in integrated, multi-channel solutions. This group accounts for almost half of the market.

• Market Structure: The German market is segmented into four archetypes of online sellers:

  • Marketplaces: Focus on price comparison and transparency.
  • Brokers: Act as mediators between dealers and customers, emphasizing convenience and personalized service.
  • Special concepts: Offer one-stop-shop solutions, particularly for car leasing.
  • OEMs/dealers: Provide a multi-channel approach, with the online shop serving as an additional touchpoint.

• Challenges in Online Car Sales: Despite the growth, there are still gaps in the seamless integration of the customer journey. Many platforms lack real-time face-to-face consultation, visual support during configuration, and integrated aftersales services.

• Success Factors: The key success factors for online car sales include:

  • Transparency: Offering a broad range of products and clear pricing.
  • Trust: Ensuring credibility and using impartial information sources.
  • Ease of use: Intuitive design and clear structure.
  • Seamless integration: Connecting online and offline processes smoothly.
  • Services: Providing a variety of services, including financing, insurance, and aftersales.
  • Flexibility: Adaptable business models that can scale with user demand and new technologies.

Key Information

• Online Sales Definition: Car purchase substantially initiated online, including forwarding the customer to a dealer and online request for consultation.

• Market Trends:

  • 1st Wave: Used car marketplaces like eBay.
  • 2nd Wave: Expansion to new cars and brokers.
  • 3rd Wave: Professionalization and entry of OEMs.
  • 4th Wave: Current focus on online sales by OEMs and dealers.

• Market Share (2014):

  • Marketplaces: ~50% of online sales.
  • Brokers: ~45% of online sales.
  • Special concepts: <5%.

• Customer Expectations:

  • 44% of customers would buy a car online.
  • 59% of young car buyers expect a response within 24 hours.
  • 81% prefer a different test drive experience than traditional.
  • 56% find negotiating with a salesman more painful than going to the dentist.
  • 45% like to remain anonymous until the deal is locked in.

• Industry Examples:

  • Marketplaces: AUTO SCOUT 24 and mobile.de.
  • Brokers: MeinAuto.de and autohaus24.de.
  • Special Concepts: Sixt Neuwagen.
  • OEMs: BMW, Mercedes Benz, and Tesla.

• Future Outlook:

  • Online sales will become more integrated with offline processes.
  • New entrants, especially from the US, are introducing innovative business models.
  • OEMs are increasingly focusing on multi-channel approaches to meet customer needs.

Conclusion

The online car sales market is undergoing significant transformation, driven by changing customer expectations and the emergence of new business models. While marketplaces and brokers currently dominate, OEMs and dealers are also adapting to the digital shift. The key to future success lies in seamless integration, trust, and convenience.