HAUPPAUGE, N.Y.–At the end of a year during which 18.43 million vehicles were sold in the U.S., GrooveCar is reporting its auto buying platform and lead generation service were significant drivers of new volumes for credit unions during 2016.
Indeed, the company reported use of its online services was up 250% over 2015.
"Experiencing this level of growth is unprecedented in most industries,” said Robert O’Hara, VP-strategic alliances with GrooveCar. “However, we knew we had the winning recipe with a new online automotive shopping and research platform that is both innovative and customizable while providing modern marketing support for our credit unions.”
Among the initiatives rolled out by GrooveCar during 2016:
The launch of the new auto-buying website and a refinance calculator feature to help credit unions capture loans lost to competitors.
An incentive feature allowing members to take advantage of automotive deals from both their credit union and local dealerships.
New website features provided a platform for credit unions to promote directly to members with special pricing from their preferred dealer networks.
Expanded video marketing and member messaging through customized marketing collateral built into the program.
As 2017 begins to unfold, there are many more enhancements that will be rolled out this year, according to GrooveCar.
"As we anticipate a double-digit growth year ahead, our strategy includes expansion plans in several areas. This includes, but is not limited to, adding more staff, introducing new design and functionality features to the program, more customization and lead generation tools while adding more value to the mobile design platform," said O'Hara.
Although the platform has been mobile responsive since its launch in February 2016, additional features will be added to exceed the digital trends taking place in mobile website design, the company said.
GrooveCar noted that nearly 60% of the total car buying process takes place entirely on the Internet, coupled with 90% of research happening online before they enter a dealership, "Members are on the go and the entire process needs to be available to them while being super responsive," O'Hara adds.
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