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Dealer Learning Center
This monthly report leverages Cox Automotive’s multifaceted insight into the automotive marketplace to provide a one-page overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry.
Key takeaways from the 22nd Annual Used Car Market Report.
While 2016 saw new vehicle sales hit a record high, and used vehicle sales accelerate for the seventh year in a row, Cox Automotive’s Chief Economist Tom Webb recommends those in the industry “prepare for volatility, enjoy today’s calm, relish having maximized returns during the recovery, and remain agile and liquid to capture the coming opportunities.”
The 2017 Car Buyer Journey Study explores how consumers shop, conduct research, make vehicle purchase decisions, and allocate their time along the car buying journey. Check out this year’s compelling new data about:
· How dealer websites drive dealership visits.
· Why shoppers didn’t buy from the first dealership they visited.
· How prior consumer awareness is critical to F&I sales.
· The importance of maintenance & repair services and how to optimize fixed ops.
· Which differentiators have the biggest impact on customer satisfaction.
We surveyed 400 consumers nationwide who visited a dealership within the previous 24 hours. Three out of four went to buy but only 1 actually did. Download the infographic to take a look at the findings.