Market Insights – Cox Automotive Inc.

Cox Automotive’s Car Buyer Journey Study Shows Growing Frustration with Car Buying Process 01/18/2023 ATLANTA, Jan. 18, 2023 – New research released today by Cox Automotive shows that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study reveals vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are often more price sensitive and face higher interest… Read Article

Car Buyer Journey Press Releases

2022 Car Buyer Journey Study Released 01/18/2023 The 13th annual Cox Automotive Car Buyer Journey Study reveals that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study shows vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are often more price sensitive and face higher interest rates, were particularly… Read Article

Car Buyer Journey Market Insights Commentary & Voices

New Form Online Retailers See Significant Rise in Shoppers 02/28/2022 The new used-car online retailers like Carvana, Vroom and Shift reported explosive revenue growth in the last quarter and for the full year of 2021. That comes as no surprise in that these so-called New Form Online Retailers (NFORs) also have experienced a steady and substantial rise in the number of shoppers visiting their websites. One in four vehicle buyers visited a site like Carvana, Vroom… Read Article

Car Buyer Journey Market Insights Commentary & Voices

How Chip Shortages Changed the New Car Buying Journey 01/27/2022 For 12 years, the annual Car Buyer Journey Study, conducted by Cox Automotive, has analyzed new and used car buyer survey data to track trends in car shopping behavior over time. In 2021, we found that inventory disruptions have impacted many facets of the new car buying journey. Here’s what our latest study shows. The chip shortage affected the new car buying process, but shopper satisfaction remains high. … Read Article

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2021 Car Buyer Journey Study Released 01/18/2022 The 12th annual Cox Automotive Car Buyer Journey Study reveals that overall car buying satisfaction remains at a near-record level, with the number of highly satisfied buyers higher than before the pandemic. The latest Car Buyer Journey Study finds that the modest retreat from the record high set in 2020 was due mostly to lack of inventory and high prices. Overall, 66% of consumers were highly… Read Article

Car Buyer Journey Market Insights Commentary & Voices

Despite Inventory Shortage, High Prices, Overall Car Buyer Satisfaction Remains Near Record Levels, According to Cox Automotive Study 01/18/2022 ATLANTA, Jan. 18, 2022 – The 12th annual Cox Automotive Car Buyer Journey Study released today reveals that overall car buying satisfaction remains at a near-record level, with the number of highly satisfied buyers higher than before the pandemic. The latest Car Buyer Journey (CBJ) Study finds that the modest retreat from the record high set in 2020 was due mostly to lack of inventory and… Read Article

Car Buyer Journey Press Releases

2020 Was a Breakout Year for New Form Online Retailers 03/03/2021 For 11 years now, the Cox Automotive Research & Market Intelligence team has been tracking the journey of car buyers, a winding road roughly 50 million Americans take every year as they set out to buy a vehicle, either new or used. The study, which has evolved over the past decade, is designed to provide a comprehensive look at the vehicle buying process in America, from the earliest… Read Article

Car Buyer Journey Market Insights Data Point

Cox Automotive Study Finds Car Buying Process Improved During COVID-19 Pandemic 02/23/2021 ATLANTA, Feb. 23, 2021 – Cox Automotive today released its 11th annual Car Buyer Journey Study. The extensive study is based on a survey of consumers who bought or leased a new or used vehicle and is designed to offer a detailed look at the vehicle buying process in America, from start to finish. While the global COVID-19 pandemic has negatively impacted nearly every measure of… Read Article

Car Buyer Journey Press Releases

2019 Car Buyer Journey Study 06/04/2019 CONSUMERS INCREASINGLY FEEL THAT OWNING A CAR IS TOO EXPENSIVE Nearly half of consumers feel like owning or leasing a vehicle is becoming too expensive (see Diagram A).1 The percentage of vehicles costing more than $50K has, in fact, grown from 6% in 2012 to 23% in 2018. This increase in new car prices, coupled with rising interest rates, has created a bigger gap between new… Read Article

Digital Retailing Research shopper insights Car Buyer Journey Sales Marketing

2018 Car Buyer Journey Study 01/29/2018 The 2018 Car Buyer Journey Study explores how consumers complete the entire vehicle purchase process by exploring when, where and how consumers decide to start their research, make their decision and close the deal – and how dealers can best position themselves to be their store of choice. In addition to continuing analyses of online shopping trends and customer satisfaction with various aspects of the dealership experience, this… Read Article

Research shopper insights Car Buyer Journey Sales Marketing