The 2022 Car Buyer Journey Study released by Cox Automotive reveals vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process.
Meanwhile, the latest survey showed that 87% of EV buyers are open to the idea of buying fully online, while 73% of buyers of traditional internal combustion engine (ICE) vehicles are open to ecommerce solutions.
Looking forward, 80% of EV buyers indicate their next purchase will be a mostly online process, compared to 61% of new ICE buyers. New ICE buyers view the ecommerce solution as an avenue to reduce buying pressure and achieve the best deal while spending less time at the dealership. EV buyers feel digital solutions can save time and make the process easier and more convenient.
Meanwhile, auto dealers appear to be on board. 87% of them indicate that digital retailing solutions have positively impacted at least one area of their business, reducing time spent, improving efficiency, and also benefitting sales, profits, and relationships with customers.
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