Automotive News, April 19, 2019 — As new-vehicle prices rise, more consumers continue to shift to the used-vehicle market, according to a Cox Automotive study.
In another finding, the study said new- and used-vehicle customers who handle at least part of the process online are more satisfied with their overall dealership experience.
Last year, nearly two in three car buyers shopped primarily in the used-vehicle market amid inflating new-vehicle payments, according to Cox Automotive’s 2019 Car Buyer Journey study.
New-vehicle payments increased at twice the rate of used-vehicle payments last year. The average monthly payment on a new vehicle rose 4 percent from 2017 to $547.75, according to Cox. For used vehicles, the average monthly payment rose 2 percent to $411.04.
