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-- the dealerships closing we just talked about and people still want to buy cars right so what about a new way to buy cars -- -- online.
A lot of people like to do it but they wonder am I really gonna get.
What I want how to I know the cars a quality car while joining us -- -- talk more about this.
-- motors CEO.
-- Monday Reza welcome to Fox Business listen to sort of creative destruction right just a shot -- -- type stuff.
Something's changed but markets evolve in a lot of people buying cars online and of that firsthand it but you worry about protection.
How's the market for.
On last selling and what guarantees do you have.
We and it's interesting because this last year in 2007.
There -- seventeen million new cars there -- so the United States and this -- tracking to do about nine to ten million new cars units sold.
25% almost of dealers are going out of business and a lot of customers are underwater on their vehicles so the trade in option is more painful than ever.
Now what we're seeing this year vs last is that we're tracking to do 44 million units of used cars this year vs 42 last year.
And about 50% of market is becoming private party vs 35% in 2006.
But how do you know or -- protections what guarantees -- you have buying online.
Well there isn't that many right now but consumers are using the Internet to to purchase vehicles research their cars.
And the used car market is a highly fragmented one and has a lot of moving parts.
And that uncertainty and fear permeates the market despite the economic benefits now -- our company intends to consolidate the market.
By providing online tools that deliver trust convenience and value.
And the economic formula the powers -- companies the same economic formula that delivers value customers.
That each step of the transaction involves pricing your car appropriately.
Getting an inspection on it -- -- it in case you wanna protect the vehicle as you purchase it and then also maybe even financing the car in -- peer to -- transactions.
So there -- tools out there -- -- delivers a product service that integrates all those tools.
In an easy to use customer experience I hate to cut it's a short Reza we had so much breaking news we'll get you back on sooner you wanna business -- most promising start -- through 2009.
Reza -- C a motive voters motive dot com thank you very much Reza we'll invite you back on soon okay.
President -- to be here thank you very much.
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