KEY CAR BUYER TRENDS DEALERS NEED TO KNOW

Overall shopping satisfaction reached 71%, with new-vehicle buyer satisfaction climbing to 76%, the highest level ever recorded. Satisfaction with the dealership experience also hit an all-time high, especially among new buyers at 81%.

Use Dealertrack tools to streamline workflows and reduce friction. Let customers explore financing options, structure deals, and reserve vehicles online. Connect your DMS, F&I, and digital contracting tools to create a seamless experience that boosts satisfaction and enables you to close more deals.

Completion of digital steps is increasing, with online trade-in offers up six percentage points year over year among new buyers, and F&I product selection up four percentage points year over year.

Offer digital tools that guide buyers through key steps online. Use Dealertrack solutions to enable customers to structure deals, review financing options, and complete contracts remotely or in store. This minimizes idle time, improves efficiency, and helps you deliver a more convenient and satisfying buying experience.

Streamlined workflows and digital tools are reducing wait times and creating a faster, more convenient experience for customers. Mostly digital car buyers spend less time at the dealership, saving an average of 41 minutes.

Provide buyers with the experiences they want. With Dealertrack, you can streamline funding and improve flooring time to move deals faster. Use connected technologies to create a more efficient, seamless experience.

Buyers who engaged with AI and automation tools are more likely to trust that they received the best deal (81% vs. 67%). They’re also more satisfied with the process duration (81% vs. 65%) and reported higher overall satisfaction (84% vs. 71%).

Use AI-powered tools to improve speed, efficiency, and trust. Implement Dealertrack solutions to streamline operations and accelerate deal flow. Leverage AI-powered fraud detection, ID verification, and Driver’s License Validation to make the buying process faster and easier for you and your customers.

Most consumers prefer the versatility of omnichannel shopping, but actual behavior skews toward in-person purchases. Currently, 47% of consumers complete some or all of the purchase process online, presenting real opportunity to push more steps online, especially as digital tools become more trusted.

Be ready to capture and convert leads from every channel, and identify friction points and develop strategies to encourage more online completion. Ensure that you have a finance engine that supports deals from all sources, including third-party sites. Use connected Dealertrack tools to deliver a consistent, seamless experience no matter where the car buying journey takes your customers.