Edmunds the new GroupOn?

Is Edmunds the new Groupon of the auto industry? In the last day Edmunds has announced plans to start a members-only car buying service similar to a GroupOn type of buying site. Car buyers will have access to members-only deals and specials at the Edmunds site from local dealers. The service aim is two-fold, it increases the reach and influence of Edmunds with the car-buying public and, according to the company, will help OEMs and dealerships rid themselves of excess or slow-moving inventory.

While the service isn't like GroupOn in terms of volume buying (but how cool would that be if it was?), it is a significant step toward a new car shopping experience. Will dealers and OEMs get on board? Too soon to tell, but I applaud Edmunds for re-engineering the car buying experience in such an elemental way. According to comScore, the group-buying market will triple to $3 billion this year, so it could be a triple win - consumers get a great deal on a car, dealers and OEMs get a novel way to move slow inventory and Edmunds gets a major PR push.

Word on the street is the beta version is live in South Florida now with other markets rolling out this summer. What do you think of Edmunds new offering? Will it help or hurt?