Trucks and SUVs Hold Shoppers Interest as Family Cars Re-emerge According to August Site Data From AutoTrader.com

ATLANTA, Sept. 14 /PRNewswire/ -- Style, performance and utility still win out with new-car shoppers on AutoTrader.com, with the super stylish Ford Mustang, Chevrolet Camaro and Chevrolet Corvette jostling with large trucks, SUVs and sedans for spots on AutoTrader.com's top 20 most-searched new vehicles list in August.  The reappearance of popular family cars such as the Honda Accord and Toyota Camry signaled wider interest in these vehicles from in-market shoppers compared to the previous month.

Overall, trucks and SUVs continued to show strong signs of recovery, no doubt supported by relatively stable gas prices, the continued economic recovery and American consumers' propensity toward larger vehicles.  On the list of the most-searched new vehicles, trucks and SUVs took 12 of the top 20 spots, and they faired equally as well on the lists of most-searched used and CPO vehicles with 11 of the top 20 spots on each list.

The recently redesigned Jeep Grand Cherokee continued to hold shoppers' interest this month, coming in at No. 8 on the top 20 most-searched new vehicles list—moving up from No. 9 in July 2010 and No. 69 in August 2009.

The Honda Accord, Toyota Camry and Honda Civic—all perennial favorites which were surprisingly absent from the top 20 new-car list in July of 2010—returned to the new-car top 20 list in August. Coming in at No. 11, the Honda Accord leapt from No. 23 in July 2010. Similarly, the Toyota Camry and Honda Civic made even bigger leaps from July 2010, with each moving up 16 places to land at No. 12 and No. 14, respectively.

These popular cars' return to the top 20 reflects several trends. First: aggressive marketing and incentive programs by both automakers helped influence car shoppers to research these cars. Both brands' marketing efforts included mass/traditional media advertising and targeted on-line advertising on sites like AutoTrader.com.  Second: these vehicles' return to the AutoTrader.com top 20 new-car lists show a renewed desire among car shoppers for practical but stylish vehicles.

"There is a healthy balance of style, utility and practicality across new, used and CPO vehicles, which bodes well for the industry as well as the economy," said AutoTrader.com's President and CEO, Chip Perry.  "When gas prices are high, car shoppers turn to smaller, more fuel efficient vehicles.  When gas prices are low, like they are now, shoppers widen their options and lean toward traditional favorites, which is what we're seeing with the still-strong showing of large trucks and SUVs and the return of the family car."

Used and CPO Prices Rise; New Car Prices Decline

Average asking prices for used and CPO cars continued to reflect rising demand and tight inventories, while new cars faced a challenging month.  Average asking prices across AutoTrader.com's lists of the top 20 most-searched used and CPO vehicles rose for another consecutive month, with all but two cars on each list posting year-over-year increases.  

Used and CPO SUVs were the biggest winners in the price game, accounting for all of the double-digit increases on both lists year-over-year.  The used Jeep Wrangler posted an increase of 11.7%, moving from $18,854 in August 2009 to $21,060 in August 2010.  On the CPO list, the average asking price for the Acura MDX went up 14.83% from $28,564 in August 2009 to $32,800 in August 2010; the Honda Pilot moved from $22,560 in August 2009 to $25,138 in August 2010, a jump of 11.43%; and the Chevrolet Tahoe's price increased 10.80% from $30,712 in August 2009 to $34,029.  

The price story for the most-searched new vehicles in August is a little less rosy, with average asking prices down for 14 of the top 20.  

"This is the first month in the last two quarters where we've seen the majority of new-car asking prices decrease," Perry continued.  "If this trend continues, the price gap between new cars and late-model used or CPO cars will continue to shrink, perhaps making September the best time for car shoppers to more seriously consider purchasing a new car."

In brighter news on the new car front, American muscle cars accounted for three of the six cars that showed increases in average asking prices.  The Dodge Challenger rose 12.98% from $33,733 in August 2009 to $38,112 in August 2010—becoming the only new car to show a double-digit percent increase year-over-year.  In the same time period, the Chevrolet Camaro gained 7.39%, moving from $33,771 to $36,265, and the Ford Mustang posted a modest gain of 0.98%, moving from $33,614 to $33,942.  

Record Site Traffic

AutoTrader.com reached record traffic in August, with over 16.6 million unique monthly visitors, up more than 7% from August 2009.  This continued the upward trajectory and record monthly site traffic AutoTrader.com has experienced throughout the year.

Additionally, AutoTrader.com reached an important milestone in its quest to become the ultimate mobile automotive marketplace, with more than one million unique visitors coming to AutoTrader.com via mobile devices in August.  The mobile platform provides an exciting, streamlined experience, giving shoppers access to the popular "Find a Car" and "Find a Dealer" features and to AutoTrader.com's "My AutoTrader" function, which allows users to store, quickly retrieve and reference past vehicle searches.  Shoppers accessing AutoTrader.com from a mobile device are automatically redirected to the mobile platform, which optimizes the experience for each mobile device.

"The mobile car shopping continues to be something that many consumers want," said Perry.  "We did a lot of research to make sure our mobile experience matched what consumers were asking for and the pace at which we've surpassed this important milestone is proof we got it right."

About AutoTrader.com

AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet's leading automotive marketplace and consumer information website.   AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers.   AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to view vehicles for sale, research and compare vehicles, review pricing and specials, and read auto-related content like buying and selling tips, auto maintenance tips and coverage of major auto shows and automotive trends.   Through innovative merchandising functionality such as multiple photos, videos, detailed descriptions and comprehensive research and compare tools, AutoTrader.com unites new and used car buyers and sellers online to improve the way people research, locate and advertise vehicles.  AutoTrader.com is a majority-owned subsidiary of Cox Enterprises.   The venture capital firm Kleiner Perkins Caufield & Byers and the private equity firm Providence Equity Partners are also investors.   For more information, please visit www.autotrader.com.

SOURCE AutoTrader.com