Carseek.com Tracks Efforts to Restore Consumer Confidence During the Economic Downturn

Share Article

The writers at Carseek.com have added a new section, "Auto Industry Financial Recovery, a Group Effort," to help readers understand the facts about the health of the automotive industry, the ramifications of the credit crunch, and the nature of government efforts to bolster consumer confidence. Known for its up-to-date database of automotive reviews, daily news updates, and comprehensive articles, Carseek.com has assumed the responsibility of keeping its readers accurately informed in the midst of the current recession. This coverage, along with practical material on car financing, makes Carseek.com a complete automotive resource for the modern driver.

getting buyers back to the showroom and opening up the flow of credit so that they can drive away in something new.

based Carseek.com, in response to widespread confusion over the health of the American automotive industry, has added a new section entitled "Auto Industry Financial Recovery, a Group Effort." The material focuses on the current state of the industry, the ramifications of the credit crisis to its recovery, and the role consumer confidence plays in the overall picture. The material is intended to keep readers informed about the latest developments in the car market and to help them make good decisions about their own transportation needs.

"Here's where things stand now," said Wes Mayder, CEO and President of Carseek.com. "Carmakers opened the year with too much inventory sitting on the lots, about a million units. In normal times that would be gone in a couple of months. Now, those new cars are apt to sit there four to six months. The companies have to find a way to either move that inventory or get something on the lots that people will buy in the middle of an economic crisis. Frankly, that's not going to be easy."

Measures coming out of Congress are aimed at getting credit flowing again so the discrepancy in supply and demand can be rectified as quickly as possible. The key element in the success of that effort will be the consumer's confidence that he can get credit, buy a vehicle that will serve him well even if gas prices go back up, and that he will be able to reasonably pay off.

"Consumers who are hard-pinched need more reassurance," said Mayder. "We saw $4 a gallon gasoline last year and we could see it again. Now buyers want to see top-rated fuel economy. They want alternative fuel choices they can afford. They want -- and here's a big switch -- smaller cars. I'm not going to be surprised if the dealers are all but giving SUVs away by summer."

Emergency loans at the end of the Bush administration to the tune of $17.4 billion were geared toward developing new products the public will buy. Many concepts and improvements in hybrid technology were on display in January at the North American International Auto Show. "Now comes the tricky part," said Mayder, "getting buyers back to the showroom and opening up the flow of credit so that they can drive away in something new."

"Our new section profiles a number of vehicles that are being introduced to meet changed consumer demands and also some that are on the way," said Mayder. "We also look at some of the industry re-structuring that has been accomplished and more that is on the way. This isn't going to go away overnight and we're going to make every effort to keep our readers apprised of current developments so they can make car buying choices from a well-informed position of confidence."

Carseek.com reviews all vehicle releases, posting the articles according to manufacturer and also supplies daily news briefs which appear in the site's right-hand column. Additional tools like "car insurance quotes" and "car financing" can also be found on the top menu with access to the site's comprehensive library under "Articles." The editors invite your questions, comments, and ideas. Send email to: editor (at) carseek.com.

Corporate Summary

Carseek.com, based in San Jose, California, works with a nationwide clientele. Since its launch in 2005, Carseek has processed more than 200,000 new car purchases. With an expanding database of news, articles, and more than 350 extensive car reviews, the site is a "one stop shop" for auto enthusiasts and new car buyers.

Contact Information:
Wes Mayder, CEO and President
Carseek.com
Santana Towers
3031 Tisch Way, 7th Floor
San Jose, CA 95128
Ph. 408-554-8990
Fax 408-554-8996
Email: partners (at) carseek.com

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jon Davidson
Visit website