AutoTrader SA has done extensive studies on consumer demand and supply over the last couple of years. And found that there is one thing that comes up consistently and that is consumers want more and more transparency from both buyers and sellers on marketplaces.

A competitive advantage for car dealers is to make the car buying and selling journey as transparent as possible. Brand transparency has been cited by Google as a critical competitive advantage. 

Be transparent about your pricing

It’s important to explain to the customer all the factors you’ve considered in coming to the offer price. 

The lack of transparency makes the customer think that they can get a better deal from your competitor. Being transparent gives the consumer confidence that you are divulging information to them that most car dealers wouldn’t. Thus creating an even better customer experience. 

An example, AutoTrader’s Instant Offer product has proven that consumers want transparency from the moment a car dealer is introduced to a car seller. 

The customer sees you as being truthful rather than trying to play a “cloak and dagger” game or price haggle with them. By giving them the lowest possible offer. This puts the consumer in a relaxed state of mind to accept the offer nine times out of ten.

Actively drive transparency in your business 

AutoTrader SA is constantly trying to drive consumer transparency in our own business. AutoTrader has to constantly balance the transparency needs of the car buying and selling consumer with the needs of AutoTrader’s other customer, the car dealership. 

However, the only way for us to bring the consumer to you is for us to offer up more and more consumer transparency. 

Car buying consumers want to know things like:

  • how many times a car has been viewed,
  • whether the car is priced correctly or not,
  • What other cars like the one they are looking at are in the market, 
  • And they want to know all this and more before they begin engaging with the car dealer. 

This allows the consumer to come into the dealership with the intention of a closed sale because they have all the data and knowledge needed to make a final purchasing decision. 

Transparency is key.