New Autotrader Study: Consumers Want Big Changes to the Car Buying Process, from Automotive Finance & Insurance.
ATLANTA, March 31, 2015 /PRNewswire/ — Autotrader’s Car Buyer of the Future study, which was released today, shows that only 17 out of 4002 people prefer the current car buying process, and the rest want significant changes, particularly in the test drive, deal structuring, financing paperwork and service phases. As a leader in the automotive retail space, Autotrader is sharing the findings of the study to aid in the industry’s understanding of consumer behavior and help dealers and manufacturers prepare to meet the needs of tomorrow’s car buyers.
“While there is good work going on right now to adapt decades-old sales processes, consumers are telling us that we as an industry are not moving fast enough,” said Jared Rowe, president of Autotrader. “By recognizing—and embracing—the need for change, we have a tremendous opportunity to surprise and delight our consumers.”
A multiphase study that included a quantitative survey among 4002 car shoppers and buyers, the Car Buyer of the Future study identifies which changes consumers desire, the underlying reasons behind those changes and the benefit to dealers and manufacturers adopting to tomorrow’s car buyers. In addition to identifying the changes that consumers do want, the study also dispels some commonly held beliefs about the future of car buying.