#1 Cochran Introduces Innovative New Car Buying Experience

Pittsburgh, PA – October 21, 2013 - #1 Cochran, Western Pennsylvania’s leading automotive retailer, announced today that it has launched a new and dramatically different buying experience for customers. Centered upon transparency in pricing, the company’s groundbreaking initiative is named Clearly Better Car Buying.

The strategic goal to optimize the customer experience began with extensive consumer research and has been under development for nearly four years. Now, with the completion of a three-month pilot program and training by #1 Cochran’s more than 800 team members, the new concept is being introduced in a series of television commercials and web videos that can be seen at www.cochran.com/clearly-better.

“With Clearly Better Car Buying, we are embracing the expectations of today’s consumers,” said Rob Cochran, president and CEO of #1 Cochran. “Customers want a fast, pressure-free experience without the hassles traditionally associated with auto retailing. As the region’s industry leader, we have responded with a more contemporary, customer-centric business model.”

Available at each of the company’s 21 dealerships, Clearly Better Car Buying features an array of uniform sales processes designed to build credibility and trust into the car-buying experience.

A key component of the new system is that customers are shown exactly how each car is priced through #1 Cochran’s exclusive ClearCut Pricing with Best Price Guarantee. Rather than utilizing MSRP, new vehicle prices are pre-adjusted to reflect the actual selling prices of identical vehicles in the market. Reputable sources of independent pricing information such as Edmunds.com are used to validate the pricing with customers.

“For far too long, our industry has allowed aggressive sales tactics to turn what should be an enjoyable event into one of the most frustrating experiences a consumer will encounter. With Clearly Better Car Buying, we’ve eliminated the hassles and confusion, and made it impossible for customers to overpay,” said Mr. Cochran.

Another important feature of the program is #1 Cochran’s TradeMax Guarantee with Dual Evaluation. Customers receive two valuations for their trades: one from an independent third-party and one from #1 Cochran. The customers are paid the higher of the two valuations, guaranteed. “This new method takes the guesswork out of trading in a car,” noted Mr. Cochran.

For an added measure of consumer confidence, #1 Cochran has implemented a 3 Day/150 Mile Money-back Guarantee that allows customers to return a purchased vehicle with no questions asked.

According to Mr. Cochran, the summer pilot program was strikingly successful, generating high levels of customer enthusiasm and back-to-back company sales records in July and August. More than 96 percent of customers surveyed during the test period indicated that their experience was significantly better than past car buying experiences.

Clearly Better Car Buying is exclusive to #1 Cochran, noted Mr. Cochran. “Our scale allowed us to examine the question of how to make the customer experience better and to develop innovative solutions and technologies to answer that question. We’ve undergone a complete cultural, structural and process transformation to create a uniquely enjoyable – and empowering – experience for customers,” stated Mr. Cochran.

About #1 Cochran
#1 Cochran is Western Pennsylvania’s leading automotive retailer and one of the top private dealer groups in the nation. Founded in 1965 as a single-point Pontiac dealership, the company now operates 21 new-vehicle franchises representing 16 domestic and imported brands. With the largest geographic footprint of any dealer in the Greater Pittsburgh region, #1 Cochran showrooms are located throughout Monroeville, Robinson Township, Allegheny Valley, South Hills and North Hills. Through its various sales, service, and collision repair operations, the company employs more than 800 team members. #1 Cochran is the only automotive company ever to win the Pittsburgh Business Ethics award and the only Pittsburgh dealer endorsed by Edmunds.com. More information is available at www.cochran.com.

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