DETROIT - The Internet may be gaining in popularity as a tool to research car prices and even purchase a new vehicle, but just how accurate are car and truck prices on the Internet? Not very, says a recently conducted study by CNW Marketing/Research. After comparing the prices of 86 different vehicles, representing 57% of all U.S. car sales from every manufacturer and every vehicle segment, the study found that new car and truck prices on the Internet, a key source for about half of all vehicle purchases in the U.S., overstated the actual price by as much as $888 on average. The study found that Kelley Blue Book missed by an average of $324, while Edmunds was an average $570 above the actual manufacturers suggested retail price (MSRP). For example, according to the study, for the Lexus LS400 luxury sedan with six options selected, each of the online sites surveyed except CarsDirect.com tallied an inaccurate MSRP. CarPrices.com scored the worst among the online sites - it overshot the MSRP by nearly $2,700. In addition, several Web sites reportedly charged for some equipment which is standard on a vehicle, or improperly allowed option packages to be added. -
ekingoff@cutimes.com
