chase process. They will resort to 3rd par- ty sites over manufacturer or dealership sites. Auto dealerships may want to focus in on loyalty programs; customers tend to return to the dealership where they pre- viously purchased a vehicle. Different de- mographics look at car pricing different- ly, some view the monthly costs as being more useful compared to the total price. 22. 60% of shoppers are unsure of which car to buy when starting research on their next vehicle. (Tubular Insights) 23. 61% (55% in the previous year) of total buyers in 2018 NEED a new vehicle versus 39% (45% in the previous year) that WANT a new vehicle. (Cox Automo- tive) 24. Car buyers spend 62% of their time on various sites on 3rd party sites, fol- lowed by 13% on OEM/Manufacturer sites, and 12% on dealership sites. (Cox Automotive) 25. 67% of consumers visit only one or two dealerships before making a pur- chase. (Netsertive) 26. 49% of the initial contact with a

dealership is done through walk-ins. 26% through phone, and 17% through email. (Cox Automotive) 27. 53% of car buyers look for monthly payment information first, while 47% look at the total price of the vehicle. Generally, females, younger age groups, lower in- come consumers, and those with children are more likely to be interested in monthly payment price. (Cox Automotive) 28. 40% of customers purchased/ leased from the same dealership where they previously made their decision. Compared to 34% in 2017. (Cox Auto- motive)

Digital Side of Car Buying Process Most consumers prefer to do their

own research online and a majority of the time they are researching car pric- es. They are using consumer reviews, search engines, and dealer websites to influence their decision. YouTube is be- coming a very popular resource for po- tential car buyers. Auto dealerships and manufacturers should utilize YouTube

70% of people who used YouTube as part of their car buying process were influenced by what they watched. This is much higher than TV, newspapers, or magazines.

videos in order to influence and convert their customers online, where a majority of their time is spent. A lot of consumers use their mobile devices to research, so a user-friendly and consistent web pres- ence is important. 29. 83% of car shoppers expected that online buying technology would help with their purchasing decision. 80% said they would likely use some form of on- line payment. (Wharton) 30. The highest online activity conduct- ed by online car shoppers is researching car prices with 71%. (V12Data)

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January-February 2019 • AUTOMOTIVE RECYCLING