The 2024 Cox Automotive Car Buyer Journey Study reveals a shifting landscape in buyer behavior—one that rewards dealers who are proactive, data-driven, and digitally savvy. As a sales manager, general manager or dealer principal, your next move can make all the difference.
Advancements in dealership technology have revolutionized the car buying experience, equipping dealers with innovative tools to better meet consumer expectations and streamline interactions.
Powered by exclusive Cox Automotive insights, dealers can now engage customers earlier, close more deals, and maximize profitability. Here’s your action plan: three strategic steps to turn insight into impact.
1. Ride the Wave of Record-Breaking Satisfaction
Insight:
New-car buyer satisfaction reached an all-time high in 2024, driven by a combination of factors that reshaped the automotive shopping landscape. Improved vehicle options, more attractive incentives, and the seamless integration of digital tools with in-person dealership experiences played pivotal roles. Buyers now enjoy (and expect) an easier process, from the research stage online to actually coming in and seeing you face-to-face.
What It Means:
Buyers are willing to talk—but only if it’s on their terms.
Action Step:
Use VinSolutions to follow up with personalized, AI-driven communications based on their service history, vehicle equity, and online behavior. Turn goodwill into long-term loyalty by staying connected with customers beyond the sale.
2. Engage Earlier in the (Longer) Shopping Journey
Insight:
Buyers are spending more time researching, exploring their options, and comparing features across brands and models. They delve into product reviews, specifications, and even financial considerations to ensure their purchase aligns with their expectations and lifestyle. It’s not just about making a transaction; it’s about gathering information and ensuring they make the most informed decision possible. The longer research phase shows how important it is to offer clear and helpful online resources to guide buyers through the process.
What It Means:
There’s a bigger window to influence decisions—but only if you know who’s shopping.
Action Step:
Leverage VinSolutions’ AI-driven tools to identify shoppers early and send them personalized recommendations based on their browsing history and preferences. This proactive approach helps engage potential buyers before they consider other options.
3. Price Transparency Is Your Advantage
Insight:
Today, fewer buyers are encountering sticker shock compared to previous trends. Statistics reveal that only 34% of new-car buyers and 41% of used-car buyers felt that the prices were higher than they had initially anticipated. This change highlights the importance of clear pricing and tools that educate shoppers about costs, helping them negotiate confidently and make better purchasing decisions.
What It Means:
Shoppers are more informed and prepared to engage in meaningful price conversations.
Action Step:
Check out VinSolutions’ Predictive Insights to see what shoppers are looking for when it comes to payment plans and down payments. Use this info to create offers that match their budget and feel like a better fit for them.
See these insights and more in our online infographic.
Ready to turn insight into action? Visit https://www.vinsolutions.com to explore our full suite of solutions and see how we can help your team win in 2025.
