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9 min read
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…
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Car Buyer Journey
Press Releases
1 min read
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…
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Car Buyer Journey
Market Insights
Commentary & Voices
3 min read
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…
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Car Buyer Journey
Market Insights
Commentary & Voices
4 min read
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. …
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Car Buyer Journey
computer chip shortage
chip shortage
Market Insights
Commentary & Voices
2 min read
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…
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Car Buyer Journey
Market Insights
Commentary & Voices
5 min read
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…
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Car Buyer Journey
Press Releases
4 min read
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…
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Car Buyer Journey
Market Insights
Data Point
6 min read
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…
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Car Buyer Journey
Press Releases
8 min read
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…
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Digital Retailing
Research
shopper insights
Car Buyer Journey
Sales
Marketing
8 min read
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…
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Research
shopper insights
Car Buyer Journey
Sales
Marketing