Customers Buying Preferences Continue to Evolve
For more than a decade, Cox Automotive has been tracking what consumers appreciate and expect from dealers when the time arrives to purchase a new or used vehicle. From this research, two clear trendlines emerge that hold significant implications for dealers who want to grow their sales volume and profitability of their new and used vehicle departments.
Online Resources and Research Drives Purchase Behavior
The first trendline is that consumers appreciate it when dealers embrace the way today’s consumers use online resources to research the vehicles they might purchase.
Consumers Expect an Accurate Online Valuation
For dealers, it’s become essential to offer vehicle valuation tools online, and to ensure that the expectations and experience that starts online extends consistently into your in-store appraisal process.
More Purchase Decisions are Based on the VDP Quality
“Increasingly, we’re finding that the VDP is the place where consumers either get more interested in a vehicle and the dealer who’s offering it or they lose interest, moving on to another vehicle and VDP that better tells the story they want to see,” Fox says.
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