31. 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. (Tubular Insights) 32. Time spent watching test drives, features and options, and walkthroughs, has doubled on YouTube in the past year. (Tubular Insights) 33. 22% of buyers purchase the make and model of the car they first searched. (Tubular Insights) 34. 62% of purchasers would rather spend time online researching, com- pared to 29% that would prefer to speak to sales person. (Oppmax)
Dealership Experience and Trends The overall attitude by consumers of
dealerships is disappointing. Consumers either do not trust the dealership or they think the process takes too long. This can be resolved by the auto dealership imple- menting a pressure-free shopping expe- rience paired with transparent pricing. They could also provide options for dig-
ital purchasing, which many consumers would prefer. Dealerships are still high- ly valuable to consumers though. Even though they don’t trust dealerships, con- sumers would rather negotiate in person than online. 35. 67% trust that the dealership gave them the best deal. This can be in- creased through simple, pressure-free shopping and transparent pricing. (Cox Automotive) 36. 46% satisfaction level for how long the car buying process takes at the deal- ership. 59% satisfaction level for inter- actions with the financing department. This can be fixed through shortening the purchase making process, loyalty re- tention, and options for digital purchas- ing. (Cox Automotive) 37. 1 in 4 buyers are unaware of the F&I products and services offered by dealership. For example, 84% of con- sumers were not aware that their deal- ership offered lost or stolen key replace- ment. (Cox Automotive) 38. 76% of consumers believe they can
get a better price through negotiations in-person vs online. (Retail Dive) 39. 72% of consumers would visit a dealership more often if the buying pro- cess was improved. 54% of consumers would buy from a dealership that offers a better experience, even if they didn’t have the lowest price. (V12Data)
Overall Car Buying Trends and Analysis
Car consumers are increasingly turn- ing to digital platforms to research and get pricing on cars, but still want to see a car in person before committing. Digital research is no longer performed solely on manufacturer and auto industry web- sites as consumers turn to social media and YouTube to get impartial opinions from industry outsiders. To see where the auto industry and buying patterns are headed, check out the website’s predictions on auto indus- try trends for 2019 and beyond.
Information reprinted from
www.findthebest
carprice.com/auto-industry-trends
AUTOMOTIVE RECYCLING • January-February 2019
23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68