New and used vehicles can be purchased in a variety of ways in North America, whether through franchised car dealerships, original equipment manufacturer (OEM) agency sales channels, or third-party online marketplaces. The need for an online marketplace came into focus in the early months of the COVID-19 pandemic as many companies selling cars did not offer fully digital services and OEMs had to temporarily close physical dealerships to the public.
Consumers’ demand for more buying choices and intra-brand competition among dealerships drive the growth of online marketplaces, which facilitate the sale of new cars between a variety of brands’ dealers and car buyers. A marketplace partnership can help automakers and dealerships expand their reach to a wider customer base.
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