Autobytel Release: Small Cars Crush Trucks Online in Q2
Small Cars Crush Trucks Online in Q2, According to Autobytel Purchase Request Data •Online Purchase Requests Fall 34% for the F-150, 43% for Tundra and Silverado •Toyota Camry, Yaris and Honda Civic All Post Big Gains •Camry Outpaces Civic to Take Overall Most Requested Vehicle Spot Irvine, CA – July 24, 2006 – Autobytel Inc. today released its Consumer Choice report for the second quarter of 2006, revealing the new vehicle buying decisions made on the company’s popular automotive web sites from April through June(1). Looking at the quarter’s big winners (fuel-efficient cars) and losers (pretty much everything else), it’s clear that consumers’ focus on fuel is continuing to shake up the car market – even more so online than off. “It comes as no surprise that the pinch consumers are feeling at the pump is playing out with dramatic increases in the popularity of small cars, but one thing that caught us by surprise was just how steep the drop-off in demand for trucks was in Q2,” said Autobytel editor Brian Chee. “Trucks took a hit offline as well, of course, but it wasn’t nearly as pronounced, which is typical: Online car buyers often lead the trends that become the big industry-wide headlines, which is why our Consumer Choice reports are worth watching.” Truck Demand Finally Doused by High Fuel Prices While “fuel anxiety” has seriously hurt demand for bigger SUVs for well over a year on Autobytel sites, Q2 was the first quarter where trucks – generally the most popular vehicles in the U.S. – suffered a similar fate. Requests plummeted 43% for the outgoing Toyota Tundra vs. a year ago, despite incentives, with equally abrupt nosedives for the Chevy Silverado (also down 43%), Dodge Ram (down 50%), Honda Ridgeline (down 38%) and Nissan Titan (down a titanic 52%). Even the venerable Ford F-150, the perennial top-selling vehicle in America, suffered a 34% drop in requests. Not surprisingly, Autobytel shoppers hastened their retreat from less fuel-efficient SUVs, with requests falling 56% vs. a year ago for the Hummer H3, for example, and 62% for the Jeep Grand Cherokee, despite a recent redesign. It should be noted, however, that two gas-gulping SUVs managed to buck this trend: the red-hot Toyota FJ Cruiser – which debuted as the second most requested SUV in Q2, trailing only the extremely popular Toyota RAV4 – and the incentives-laden Ford Explorer, which generated a 14% boost in requests vs. ‘05. A Tale of Two Markets … The impact of high gas prices on the car market may seem like old news, but the shift is actually still picking up steam. To illustrate how the market is transforming right before our eyes, here’s a look at how Autobytel shoppers’ demand swung for certain key models – “fuel sippers” vs. “gas guzzlers” – from the short span between the first and second quarters of 2006: “Fuel Sippers” % change Q1-Q2 “ Toyota ECHO/Yaris +835% Ford Escape Hybrid +110% Toyota Prius +73% Ford Focus +72% Honda Civic +20% Chevrolet Cobalt +19% Gas Guzzlers” % change Q1-Q2 Jeep Grand Cherokee -58% Dodge Ram -47% Ford F-150 -40% Hummer H3 -39% Dodge Charger -29% Chrysler 300 -13% The Autobytel Consumer Choice Hot List Here’s a list of 10 vehicles – most with very good fuel numbers (with one notable exception) – that captured the hearts of Autobytel’s shoppers during the second quarter, as evidenced by either a sizzling debut or a major uptick in Purchase Requests. Automakers take note: These are the vehicles that are winning out in a competitive multi-brand research environment – the vehicles that are rising to the top online, where the majority of buying decisions are now being influenced. Link to http://www.autobytel.com/content/shared/articles/templates/index.cfm/article_id_int/2015 for complete analysis. •2007 Toyota Yaris – With Purchase Requests up more than 800% vs. the model it replaced (the Echo) in the first quarter, the Yaris has quickly made its model predecessor a fading, distant memory. •2007 Toyota Camry Hybrid – Camry reliability + hybrid sensibility = big-time popularity among Autobytel’s fuel-focused shoppers. •2007 Toyota FJ Cruiser – The second most requested SUV on Autobytel’s sites straight out of the blocks. An amazing introduction for an SUV that gets poor gas mileage and a testament to the power of styling that hits the mark. The bottom line: People want to be seen in this car. •2007 Honda Fit – Cool, fuel-efficient: another hit for Honda. •2007 Lexus ES 350 – This much-improved car proves that luxury doesn’t have to cost at the pump – a combination that Autobytel buyers rewarded with a 137% boost in Purchase Requests vs. a year ago. •2006 Toyota RAV4 – Whether it comes with four or six cylinders, the redesigned RAV4 is shedding its “sorority sister” SUV reputation. The result: Requests were up 108% in the second quarter vs. ’05. •2006 Honda Civic – Will the run ever end? Probably not anytime soon, given that requests for the redesigned Civic were up 62% compared to 2005 (when the Civic was already among Autobytel’s top-three most requested vehicles). •2007 Dodge Caliber – Cool, inexpensive, great fuel mileage … plus that trendy, edgy styling. •2006 Hyundai Sonata – Online shoppers are warming up to the value and reliability of the Sonata, another complete redesign that scored big with Autobytel shoppers. Toyota and Honda should be getting nervous right about now. •2006 Ford Escape Hybrid – Incentives, room and fuel economy make this a very popular choice among Autobytel shoppers, as requests rose 47% compared to last year. To speak with an Autobytel analyst about Q2 and current Autobytel consumer trends in a rapidly changing marketplace, contact Joe Foster, 323-572-5361 or joe@rbicom.com. The 10 Vehicles Autobytel Shoppers Requested Most in Q2 2006 1. Toyota Camry 2. Honda Civic 3. Honda Accord 4. Honda Odyssey 5. Toyota Corolla 6. MINI Cooper 7. Toyota RAV4 8. Toyota Yaris 9. Toyota Prius 10. Toyota Sienna (1)Autobytel’s Consumer Choice report is based on vehicle Purchase Requests submitted (with an intent to buy) by online shoppers through Autobytel's sites from April through June 2006. About Autobytel Inc. Autobytel Inc. is one of the largest online automotive marketplaces, empowering consumers to make smart vehicle choices using objective automotive data and insightful interactive editorial content. The result is a convenient car-buying process backed by a nationwide network of dealers who are committed to providing a positive consumer experience. Every day consumers choose Autobytel-owned and operated websites—Autobytel.com, Autoweb.com, CarSmart.com, Car.com, AutoSite.com, Autoahorros.com, and CarTV.com – to facilitate their car-shopping decisions. Autobytel’s ability to attract millions of highly qualified, in-market car buyers and connect them with retailers has made it a leader in facilitating the entire customer car-buying lifecycle. The Company’s innovative marketing, advertising, data and CRM products, including its Web Control® customer management system, Retention Performance Marketing (RPM®) service reminder program, Special Finance LeadsSM, and AIC® data center, are designed to enable dealers to offer a premium consumer experience. Since pioneering pro-consumer online automotive content and purchasing in 1995, Autobytel has helped more than twenty-seven million car buyers, generating billions of dollars in car sales for dealers. Contact: Autobytel Inc. Media Relations Melanie Webber, Autobytel Inc., 949.862.3023 (melaniew@autobytel.com) Joe Foster, RBI Communications, 323.572.5361 (joe@rbicom.com) Betsy Smith Isroelit, RBI Communications, 323.960.1360, ext. 17 (betsy@rbicom.com)