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 unsatisfied with the experience in 2022, the research shows.
The 2022 Car Buyer Journey Study was created from surveying more than 10,000 consumers who were in the market for a vehicle in 2022 – 4,150 vehicle shoppers and 6,118 vehicle buyers. As part of the process, dealers were also surveyed. Most of the research was conducted during the second half of 2022. This extensive study is designed to measure vehicle buyers’ satisfaction with research and shopping as well as the dealership experience including what websites were leveraged when shopping and what digital retailing steps they completed during the transaction.
To learn more, read the press release.