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The 2016 Car Buyer Journey Study by IHS (commissioned by Cox Automotive) has revealed new insights about the prevalence of online shopping, the relative importance of various Internet resources and the use of multiple devices during the car-buying process. The study also provides details about how car buyers consider a variety of makes/models and purchase options as they shop, and examines what consumers like and dislike the most about the car-buying process.
Today’s 16-year-olds — part of Generation Z — are 80 million strong and influence $200 billion in annual spending power on parental or household purchases. By 2020, their purchasing power will equal the GDP of some small countries. However, they’re by nature more cautious spenders, less likely to be influenced by prestige and more likely to be influenced by safety and practicality peppered with technology. Learn what’s most likely to influence these future car-buyers…
Since 2010, the Autotrader Sourcing program has been conducting an annual survey of consumers who bought vehicles from over 400 franchise and independent dealerships across the U.S. The research provided insights into a variety of important questions about these vehicle “re-purchasers,” including what percentage of them:
- Returned to buy from the same dealership
- Re-purchased the same make
- Re-purchased the same make and model
The survey also provided a glimpse of what drove their shopping decisions. Be sure to check out these additional shopper insights to see how you can better engage today's customers.
The 2015 Cox Automotive Consumer Video Research Study found that 65% of consumers consider vehicle videos to be an important part of their car-shopping process.
Download this information sheet to learn what types of video content shoppers find most helpful, and the ideal video length.
It’s a great time to be in the CPO business. Certified Pre-Owned (CPO) car sales continue to gain traction and are up 10.6% over 2014 (as of Oct. '15). Learn more about CPO from the 6th annual CPO study that includes trending data of car shoppers' attitudes about Certified Pre-Owned vehicles.
Get more insights from the 2015 Autotrader CPO Study
On November 17, Isabelle Helms, Vice President of Research & Market Intelligence for Cox Automotive, revealed additional insights from the study during Used Car Week. In this presentation, she identified the “new” used car shopper – the prime target for CPO, and shared 5 tactics to effectively turn this group of shoppers into CPO buyers.