5
Key
Operational
Takeaways
From the Cox Automotive Car Buyer Journey Study
For the past 15 years, Cox Automotive has been researching the consumer car buyer journey to uncover key trends and consumer preferences. Here are 5 takeaways from the Cox Automotive Car Buyer Journey Study to power your dealership in 2025 and beyond.
Key Takeaway #1
Enhanced online tools have pushed new car buyer sentiment to a record high
More car buyers reported being satisfied with the overall shopping experience, driven in part by advancements in digital tools such as online financing applications, the ability to view and select add-on products, and virtual showroom tours, all seamlessly integrated with in-dealership shopping activities. New car buyer satisfaction, in particular, climbed to an all-time high in 2024.
Satisfaction with
new car shopping experience
(+2 points since 2023)
Take Action
Don’t take your foot off the gas—integrated dealership technology continues to streamline the buying process, creating more efficient and profitable business operations.
Dealertrack’s flexible solutions, such as Dealertrack financing and Digital Contracting, are designed to adapt to the evolving needs of the automotive market. Dealertrack eContracting simplifies the financing process by enabling digital document submissions, reducing errors, and accelerating funding times. Meanwhile, Dealertrack DMS & F&I empower dealerships to provide online shopping tools, allowing customers to structure deals, select financing options, and even reserve vehicles from the comfort of their homes. These innovative tools ensure that dealerships remain competitive in an industry that continues to transform through technological and consumer-driven changes.
Key Takeaway #2
Digital tools continue to empower buyers
New-vehicle buyers continue to leverage key online tools to shop for cars. These buyers are also among the most engaged online shoppers, demonstrating high overall satisfaction with their experience.
58%
New vehicle buyers who visit dealership sites
Take Action
Continue to offer the digital tools that consumers want to facilitate the purchase and F&I process. Dealertrack delivers complete funding packages that can be signed in store or remotely, on any device. Dealertrack has over 200 integration points with other technologies to ensure a fully connected buying experience.
Key Takeaway #3
Longer dealership visits haven’t diminished customer satisfaction
Overall, buyers dedicated more time to the shopping journey in 2024. But with more emphasis on automation, dealerships were able to focus on the experience of test driving and learning about product features, benefiting the overall consumer experience.
Average total time spent shopping for new car
(+1hr 50mins from 2023)
Take Action
Ensure an efficient car-buying experience that minimizes in-dealership transactional time and maximizes buyer satisfaction. With Dealertrack, you can get funding faster, improve flooring time, and spend less time reviewing paperwork—delivering significant benefits to your dealership and the experience that today’s consumers demand.
Key Takeaway #4
Shoppers experience less sticker shock
Fewer buyers demonstrated dissatisfaction with vehicle prices in 2024, with only 34% of new-vehicle buyers and 41% of used-vehicle buyers expressing that prices were higher than expected.
New car buyers experiencing sticker shock
(-8 points since 2022)
Take Action
Keep costs low and overall efficiency high. Partner with Dealertrack to implement a range of fixed ops, financing, and analytics solutions designed to improve efficiency, speed up your processes, and help you stay competitive
Key Takeaway #5
Shoppers want to do more online
eCommerce has transformed buying in automotive, including selecting vehicles and interacting with the F&I department. Consumers categorized as “mostly digital” shoppers in 2024 spent less time overall on the deal process and were more satisfied with their activities at the dealership.
Mostly Digital buyers complete more than 50% of the steps in their buying journey online
Take Action
Put your financing and F&I aftermarket options online, so shoppers can “add to cart” and see monthly payment amounts before discussions take place during the F&I process at the dealership. Dealertrack F&I gives the consumer the option of remote signing or completing their journey at the dealership.
Visit Dealertrack.com to schedule a personalized demo and learn more about how you can leverage Dealertrack solutions to improve the car buying journey for your customers.
