FOR IMMEDIATE RELEASE
As GM eBay Program Extends, Edmunds.com Advises Car Shoppers on "Buy it Now" and "Make an Offer" Prices
SANTA MONICA, Calif. — September 1, 2009 — In its evaluation of the General Motors eBay pilot program, Edmunds.com, the premier online resource for automotive information, has determined that in most cases, shoppers should avoid the "Buy it Now" pricing option and instead choose the option to "Make an Offer."
Edmunds.com analysts looked at the "Buy it Now" price on GM eBay and found the average to be 2 percent higher than True Market Value® pricing. On a $25,000 car that is about $500.
Each shopper who pursues "Make an Offer" should make a realistic offer that is likely to be accepted quickly. The Edmunds.com True Market ValueŽ pricing tool allows for free and straightforward research for car-shoppers. Tomorrow Edmunds.com will begin publishing specific vehicle pricing recommendations to consumers on its GM eBay information page at http://www.edmunds.com/industry-car-news/buying-gm-cars-on-ebay.html.
"So far, the program has inadvertently encouraged lowball offers and resulted in frustration on the part of consumers and dealers," commented Edmunds.com CEO Jeremy Anwyl. "In our continuing efforts to empower the automotive consumer, we are listing realistic discounts that shoppers can expect to get so that the purchase process is smoother, simpler and faster for them."
Lively discussions about the GM/eBay program are taking place on Edmunds' CarSpace.com message boards at http://townhall-talk.edmunds.com/WebX/.f1e2e74.
About Edmunds Inc. (http://www.edmunds.com/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.