New report from Cox Automotive reveals car buyer satisfaction continues to decline in 2022 despite industry efforts to better serve in the face of economic headwinds became.
Cox analysts made their conclusions based on survey responses from more than 10,000 participants looking to buy a car in 2022. According to the responses, car buyer satisfaction has dropped to 61% for him, and from 2021 he has decreased by 5%. Note that the numbers are nearly identical. In pre-COVID stats, researchers cite increased shopping hours, lack of vehicles, and price tags as the main causes of this slide.
Car buyer satisfaction figures are useful for dealers looking to up their game in the new year. But the three issues he mentions in Cox’s report are largely factors beyond the control of store owners. Barring a miracle in 2023, retailers will have to adapt if they want to avoid further hostility from vehicle buyers and bring them back into the market.
Thankfully, as Cox researchers point out, there are strategies that hold promise for improving car buyer satisfaction. This figure shows that 87% of dealers and 81% of consumers believe e-commerce has improved their shopping journey. Auto retailers have lagged in adopting digital sales solutions, which could be the answer to American consumer disillusionment.
That being said, dealers have worked hard to integrate better equipment and strategies into their operations. Additionally, entrepreneurs are increasingly interested in improving the car shopping experience, creating companies that promise to change the market landscape. Declining car buyer satisfaction is never good news, but the resilience of car dealerships and their ability to adapt has been proven more than a dozen times by him, and a solution is almost certain to be found.
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