News Coverage
How the Car Buyer Journey Has Changed and What it Means for Your Dealership
Monday April 29, 2019
Article Highlights
- More than one-third of car buyers now visit just one dealership before purchase.
- Nearly half of all buyers take less than 30 days to shop for and purchase a vehicle.
- Used-vehicle consideration and online shopping are increasing as prices rise.
CBT News, April 29, 2019 — According to a new study released by Cox Automotive, budget-minded, time-strapped, tech-savvy U.S. car buyers are spending a higher percentage of their shopping time online and less total time in market as they hunt for their perfect ride.
The 2019 Cox Automotive Car Buyer Journey study also indicates consumers continue to be frustrated by new-vehicle prices and are more likely than ever to be shopping for used vehicles. On today’s show, Isabelle Helms, vice president of research and market intelligence for Cox Automotive, joins Jim Fitzpatrick to discuss what its findings mean for dealerships.
To find out more about Cox Automotive’s 2019 Car Buyer Journey Study, click here.