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| AutoTrader |
With the turmoil in the Middle East, economic recovery and the upcoming summer driving season contributing to increased gas prices, consumers appear, based on AutoTrader.com's site data, to be expanding their car searches to more fuel-efficient models.
In addition to examining the top 20 most-searched new, used and Certified Pre-Owned (CPO) vehicles, AutoTrader.com's Trend Engine will now look at the 10 biggest movers on the site across all categories and highlight market trends that may be causing those moves. Big movers are vehicles that have made significant jumps in their rank on the site month-over-month, even if the vehicles didn't receive enough interest to garner a spot in one of the top 20 most-searched lists.
Fuel-Efficient Cars Pick Up Steam; Slight Declines for Trucks and SUVs
In March, the big story in the list of most-searched new vehicles is in the strong gains made by numerous fuel-efficient models.
The new Ford Fiesta jumped 10 spots, from No. 28 in February to No. 18 in March, and the new Chevrolet Cruze moved up three places month-over-month, going from No. 14 in February to No. 11 in March.
Similar jumps were seen among other fuel-efficient vehicles: the new Volkswagen Jetta gained two places, going from No. 11 in February to No. 9 in March, and the new Hyundai Elantra jumped four places from No. 18 in February to No. 14 in March. While the new Kia Optima fell by one spot in the list month-over-month, it has moved up year-over-year from No. 175 in March 2010 to No. 17 in March 2011, up an impressive 158 spots.
Except for the Dodge Durango, which made a 17-spot jump month-over-month, trucks and SUVs slipped in popularity on the list of most-searched new vehicles, with the new Ford Explorer, new Ford F-250 and new Jeep Grand Cherokee all slipping three spots month-over-month.
The lists of most-searched used vehicles and most-searched CPO vehicles reflected many of these same trends. The more fuel-efficient cars made notable gains on the list, with four of these cars jumping at least four spots on the list. The used Honda Civic made the top 5, moving from No. 9 in February to No. 5 in March; the used Nissan Altima went from No. 16 in February to No. 12 in March; the used Volkswagen Jetta went from just breaking into the top 20 in February to No. 15 in March; and the used Toyota Camry reappeared on the list at No. 20 in March, up from No. 24 in February.
The only vehicles to lose ground on the list of most-searched used vehicles were trucks and SUVs. Out of the 10 trucks and SUVs on the list, seven dropped to lower positions. Of those, the used Chevrolet Tahoe, used Dodge Ram 2500 and used Jeep Grand Cherokee all fell four places between February and March 2011. The Tahoe went from No. 10 in February to No. 14 in March; the Ram 2500 went from No. 14 in February to No. 18 in March; and the Grand Cherokee went from No. 15 in February to No. 19 in March.
On the CPO front, the story is practically the same. Fuel-efficient CPO cars were the only ones to gain any notable ground, with the CPO Toyota Camry landing at No. 4 in March, up from No. 7 in February; the CPO Honda Civic landed at No. 6 in March, up from No. 9 in February; the CPO Audi A4 landed at No. 7 in March, up from No. 10 in February; the CPO Volkswagen Jetta landed at No. 10 in March, up from No. 13 in February. The big winner in the top 20, however, was the CPO Nissan Altima, which jumped ahead by nine spots to land at No. 20.
Smaller Cars Make Big Moves in March
March is the first month that AutoTrader.com has published the "Top 10 Big Movers" lists, which analyze site traffic on models that gained significantly more consumer interest month-over-month. Interestingly, vehicles on these lists tended to be either luxury/sports cars or smaller, more fuel-efficient cars.
The big movers in the new vehicle arena in March illustrated the trend of consumers shifting interest to more fuel-efficient vehicles. Three hybrid cars and three smaller cars dominated the list. The luxury hybrid Lexus CT 200H made the biggest jump of all, from No. 343 in February to No. 82 in March, a leap of 261 spots. Other hybrids to make big jumps included the Honda Insight, which went from No. 212 in February to No. 158 in March and the Honda CR-Z, which went from No. 151 in February to No. 109 in March. The Fiat 500, Scion XD and Honda Fit rounded out the fuel-efficient models on the list.
For used vehicles, another Lexus hybrid made the list: the used HS 250H, moving up 37 spots month-over-month to the No. 461 position. Four small cars also made big jumps, including the used Smart Fortwo (up 46 spots), the used Ford Fiesta (up 38 spots), the used Honda Fit (up 36 spots) and the used Chevrolet Cruze (up 33 spots). No hybrid cars made big moves on the CPO list, but four fuel-efficient models did: the CPO Mini Cooper made the biggest leap of 73 spots, followed by the CPO Honda Fit (up 32 spots), the CPO Volkswagen Golf (up 31 spots) and the CPO Mini Cooper Clubman (up 26 spots).
Majority of Average Asking Prices Continue to Rise
Average asking prices for new vehicles remain healthy, with 11 out of 20 posting a year-over-year increase on AutoTrader.com. Six of those 11 saw an average asking price increase more than four percent, but two new vehicles stood out with average asking prices increasing more than 10%: The average asking price of the Hyundai Elantra went from $17,423 in March 2010 to $19,414 in March 2011, an increase of 11.4%; the Kia Optima's average asking price went from $20,066 in March 2010 to $23,671 in March 2011, an 18% increase.
As a result of the still-limited inventory of quality used cars, average asking prices continued to creep up for the majority of the most-searched used vehicles on AutoTrader.com. Sixteen out of 20 vehicles on the list experienced an average asking price increase, with the used Jeep Wrangler increasing 7.4% from $19,640 in 2010 to $20,907 in 2011 and the used Dodge Ram 2500 increasing 9.5% from $24,708 in 2010 to $27,066 in 2011. Other used vehicles with a significant year-over-year price increase include the used Toyota Tacoma, used Volkswagen Jetta and used Toyota Camry. Analysts noted that the good fuel economy of the Jetta and Camry may be a contributing factor to their price increases.
The price story was particularly intriguing on the list of most-searched CPO cars, as there were six vehicles that experienced year-over-year price increases over six percent. With the exception of the Ford Mustang, which saw an average asking price increase of 8.6% year-over-year, the other five vehicles were either Hondas or Toyotas. The average asking price for the Honda Accord rose 6.6%, from $18,054 in 2010 to $19,237 in 2011; the Toyota Tundra rose 7.9%, from $24,732 in 2010 to $26,684 in 2011; the Toyota Highlander rose 7.9%, from $24,785 in 2010 to $26,750 in 2011; the Toyota Tacoma rose 8% from $21,687 in 2010 to $23,436 in 2011; and the Toyota 4-Runner rose the most at 10%, from $24,268 in 2010 to $26,698 in 2011.
The rise in prices for these cars might be a result of the impending shortages caused by the back-to-back natural disasters in Japan which have wreaked havoc on the production schedules for new cars from these auto makers.
Most-Searched Brand on AutoTrader.com
In a month where Ford topped rival brands in number of sales, Ford also continued to dominate the most-searched new and used vehicle brands list, with GM's Chevrolet remaining in the No. 2 position. On the new vehicle list, three brands made significant year-over-year improvements, with Hyundai moving up four spots to the No. 6 position; Jeep moving up an impressive seven spots to the No. 8 position; and Kia moving up four spots to the No. 10 position on the list. Both Honda and Kia, which were not on the list of most-searched new vehicle brands in February, made the list in March. With only slight position changes here and there, the list of most-searched used vehicle brands remained stable.
Top 10 Articles on AutoTrader.com in March
AutoTrader.com publishes insightful and informative articles about automobiles and car shopping, including how-to tips, car reviews and automotive trend stories. In March, fuel efficiency was top-of-mind for many car shoppers, as were a few unique vehicles listed on AutoTrader.com.
The most-viewed articles on AutoTrader.com in March were:
- For Sale on AutoTrader: Tracy McGrady's 2001 Mercedes-Benz CL600 – Car shoppers looking for a unique luxury car should consider this former athlete's flashy, custom Mercedes-Benz.
- Consumer Reports Lists Best Used Family Vehicles – Families looking for a good car at a great price should consider the vehicles highlighted in this article on AutoTrader.com.
- Top Green Cars for Under $25,000 – Driving a "green" car doesn't have to mean making big money or style sacrifices, according to this article which lists ten eco-friendly cars at a great price.
- Shopping for Fuel Efficiency? Kelley Blue Book Suggests Waiting – Rising gas prices have consumers flocking to smaller cars, but KBB encourages patience when making a big purchase.
- 2007-2010 Toyota Tundra - Used Car Review – Big trucks are still popular with consumers; find out what makes the Tundra stand out in the pre-owned truck category.
- For Sale on AutoTrader Classics: Dennis Rodman's Gold Lamborghini – This is a car that's as unique as its previous owner: a customized 2004 Lamborghini Gallardo, available for sale on AutoTrader Classics.
- Young Mom with Old Car Tests Toyota's Newer Technology – This article and accompanying video dives into whether all this new technology is more helpful or distracting for a busy mom-on-the-go.
- For Sale on AutoTrader: Chevy Corvette Owned by Nicolas Cage – Car shoppers dreaming of owning a piece of celebrity history can find Cage's 1992 Chevy Corvette on AutoTrader.com.
- Five Reasons to Buy: 2011 Buick Regal – With an emphasis on performance, the Buick Regal reappears after a seven-year production hiatus.
- Only $200K for a 200 MPH Sports Car – Audi R8 GT Pricing – Audi announced details for its upcoming exotic sports car. Will the features and performance outweigh its hefty premium?
These articles and more, including coverage of upcoming auto shows and events, can be found atwww.autotrader.com/research.
About AutoTrader.com
Atlanta-based AutoTrader.com, created in 1997, is the Internet's ultimate automotive marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers and is a leading online resource for auto dealers, individuals and manufacturers to advertise and market their vehicles to in-market shoppers. The company also provides a robust suite of software tools for dealers and manufacturers to help them manage and market their vehicle inventory and display advertising on the Internet. AutoTrader.com continues to grow key business metrics, including revenue, profitability and site traffic. Today, AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to review descriptions, photos and videos of vehicles for sale; research and compare vehicles; review pricing and specials; and read auto-related content like buying and selling tips and editorial coverage of major auto shows and automotive trends. AutoTrader.com operates two other auto marketing brands, AutoTraderClassics.com and AutoTraderLatino.com. AutoTrader.com also owns used vehicle management software company vAuto, Kelley Blue Book(Kbb.com) and HomeNet Automotive, a leading provider of online inventory management and merchandising solutions for the automotive retail industry. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a 25 percent owner of the company and Kleiner Perkins Caufield & Byers is also an investor.
Sources: http://www.itnewsonline.com
