Edmunds Price Promise Shows Strong Positive Results | Edmunds

Edmunds Price Promise Shows Strong Positive Results


Just the Facts:
  • Edmunds Price Promise program is showing strong positive results from car dealers and consumers after one month.
  • Four out of five Price Promise shoppers say they are "very satisfied" with the buying experience and 73 percent of customers who received a Price Promise quote said the price on the certificate was on par or lower than what other dealerships were offering.
  • "If you make the car shopping process easier, you create better trust and engagement with car buyers," said Seth Berkowitz, Edmunds president.

SANTA MONICA, CaliforniaEdmunds Price Promise program is showing strong positive results from car dealers and consumers after one month.

Four out of five Price Promise shoppers say they are "very satisfied" with the buying experience and 73 percent of customers who received a Price Promise quote said the price on the certificate was on par or lower than what other dealerships were offering.

Participating Price Promise dealers have seen customer contacts increase as much as 100 percent and their closing rates with shoppers within a 15-mile radius increase by an average of 15 percent.

"If you make the car shopping process easier, you create better trust and engagement with car buyers," said Seth Berkowitz, Edmunds president.

Edmunds' research shows that the biggest unmet need of car shoppers is finding an actual price for a car. The Price Promise offers an instant, locked-in price that the dealer will honor. Users get the dealer's guaranteed price for a car by providing three basic pieces of information: name, phone number and e-mail address.

Edmunds says: The up-front price and the personal contact at the dealership are proving to be a hit with consumers.

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