Understanding Car Buyers' Expectations
In the wake of the pandemic, the automotive industry has made a steady return to its pre-pandemic state by the end of 2023. However, car buyers are still approaching their purchases with heightened expectations influenced by their pandemic experiences. To shed light on these changing dynamics, CDK Global conducted a comprehensive study involving nearly 1,200 car buyers and around 350 dealerships. The aim was to identify pain points and opportunities for improvement in dealerships nationwide over the past year.
Key Findings from the Friction Points Study
The latest Friction Points Study by CDK Global revealed insightful details about today's car buyers. It delved into aspects such as customer satisfaction levels with wait times and the duration spent on the vehicle purchasing process. The study also highlighted areas where dealerships have demonstrated improvements, key strategic focus areas for dealers, the influence of modern retail practices, and future trends based on the study data. Notably, the study offers detailed breakdowns on various factors including gender, household income, sales journey stages, and the evolution of wait times throughout the year.
Empowering Dealerships with Actionable Insights
With a commitment to assisting dealers in enhancing their customer relationships, CDK Global's annual Friction Points Study serves as a valuable resource. By uncovering both successful practices and challenges within the car-buying process, the study provides a robust research foundation for CDK's content and research teams all year round. Moreover, insights from the study help dealers understand the evolving landscape of customer preferences and expectations, enabling them to adapt and refine their approaches for improved customer satisfaction.