In its second-largest acquisition, Amazon buys the company for $970 million.
Of the leading third-party sales sites, AutoTrader.com maintains the largest online inventory with more than 1 million used cars followed by Cars.com with 418,000.
Now that it’s abundantly clear that online car buyers are flocking to the web to research at least a portion of their next vehicle purchase, a new research service from Corzen Inc. aims to track how many used cars, trucks and sport utility vehicles are listed on the web for sale by leading third-party sites.
The new online auto indicators service from Corzen, a New York City market measurement company, reports that AutoTrader.com maintains the largest inventory with more than 1 million used cars for sale in the 100 largest U.S. automotive retailing markets. Corzen says Cars.com is second with an online used car inventory of 418,000 vehicles, while Yahoo Autos is third with 216,000.
“The market for used car advertising is clearly migrating from traditional print media such as newspapers to online sites,” says Corzen CEO Bruce Murray. “In the New York City and Los Angeles metropolitan areas more than 2,000 individual dealers are using at least one of the leading online used car sites.”
According to Corzen, the New York and northern New Jersey metropolitan area is currently the nation’s biggest used online vehicle market with 3,391 cars, trucks and SUVs listed on leading third-party sites. New York is followed by Los Angeles with 2,727 used vehicles, Philadelphia with 1,178 and Chicago with 1,558.