2020 COX AUTOMOTIVE CAR BUYER JOURNEY - Autotrader B2B
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2020 COX AUTOMOTIVE CAR BUYER JOURNEY
Study Methodology
Background
Cox Automotive has been researching the
car buying journey for 10 years to monitor
key changes in consumer buying behaviors
Goal
Inform strategic decisions for Cox Automotive
and OEM & Dealer clients
In-Field Dates
September 12 – October 1, 2019 (Pre-COVID)
2,008
3,005
Recent Vehicle Buyers* 997
New Buyers
Used Buyers
*Purchased their vehicle within the last 12 months and used the Internet during the
shopping/buying process. Results are weighted to be representative of the buyer population
2
Top Trends in 2020 Cox Automotive Car
Buyer Journey
1 New vehicle buyers are less satisfied with the shopping
experience as they are less confident and trusting in the deal
2 Used buyer are more focused on research and show prominent
online engagement
Active DR activity (where a dealer is contacted
3 or engaged) is still limited, but promising.
Those fully committed have the best experience.
4 Time in-market continues to decline,
as consumers are driven by needs
In-field dates: Sept – Oct 2019 (Pre-COVID) 3
THE WINDOW OF
OPPORTUNITY TO REACH
BUYERS IS NARROWING
4
Consumers Continue to Spend Less Time In-Market
Total Days In-Market Motivated by Needs
118 Lease is Expiring
Vehicle was Damaged/Totaled
89 Vehicle was Unreliable/
Expensive to Repair
2017 2018 2019 2020
Note: Excludes zero days
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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Increased Time Spent Shopping is Helping to Reduce the Total Time In-Market
Total Time Spent
14:53 (+0:58) (13:55 in 2019)
Researching & Researching Talking to Others Visiting Other With the Dealer/Seller
Shopping Online Through Print 0:28 (+:01) Dealerships/Sellers Where Purchased
9:29 (+1:05) 0:17 (+:01) 3% of Time Spent 1:49 (-:07) 2:50 (-:02)
64% of Time Spent 2% of Time Spent 12% of Time Spent 19% of Time Spent
2 3 4 5
1
2019 (8:24, 61% of Time Spent) (0:16, 2% of Time Spent) (0:27, 3% of Time Spent) (1:56, 14% of Time Spent) (2:52, 20% of Time Spent)
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 6
Third-Party Sites Continue to Lead the Way to Buyers
Changes in Website Usage
Total Buyers
79% 80% 79%
4.2
76%
Total Websites
Visited (2020) 49%
45% 44% 46%
4.5 4.1 4.2
2017 2018 2019
29% 27%
25% 26%
2017 2018 2019 2020
Third party sites Dealer sites OEM sites
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 7
Cox Automotive Site Usage Is Stable and Strong
Third-Party Websites/Apps Used to Research & Shop
1
2
67% Tied
2
4
of total buyers used
Cox Automotive
(68% in 2019)
5
6
7
*Question added in 2020.
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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Implications: Seize the Opportunity
Strategize a plan to maintain a comprehensive
online presence that includes third party sites
Intensify the urgency in offers and
strategically feature messages around
special deals and vehicle attributes
In-field dates: Sept – Oct 2019 (Pre-COVID) 9
NEW BUYERS HAVE
AN ISSUE WITH TRUST
10Shopping Satisfaction Levels Soften Among New Buyers
Satisfaction With the Overall Shopping Experience
(%8-10)
New Used
69%
66% 66%
62%
59%
58% 60%
57%
2017 2018 2019 2020
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 11New Buyers Spent Less Time Visiting Dealers Overall
New (A) 11:56 (-1:10) (13:06 in 2019)
Used (B) 15:53 (+1:41) (14:12 in 2019)
Researching & Researching Talking to Others Visiting Other With the Dealer/Seller
Shopping Online through Print Dealerships/Sellers Where Purchased
2 3 4 5
1
New (A) 6:44 (-:12) New (A) 0:23 (-:07) New (A) 0:21 (-:09) New (A) 1:40 (-:33) New (A) 2:48 (-:09)
Used (B) 10:25A (+1:32) Used (B) 0:16 (+:05) Used (B) 0:30 (+:03) Used (B) 1:52 (+:02) Used (B) 2:50 (-:01)
New 6:56 New 0:30 New 0:30 New 2:13 New 2:57
2019
Used 8:53 Used 0:11 Used 0:27 Used 1:50 Used 2:51
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 12New Buyers Are Less Trusting in the Deal...
Overall Satisfaction With Experience at Dealership of Purchase Among New Buyers
(% 8-10)
73% (+1)
Trust Dealer Interactions with Selection
How Long the Interactions The Price Paid The Test Driving
Gave the Dealerships’ of Vehicles
Process Took with Finance For the Vehicle Process
Best Deal Sales Available
61% (-6) 48% (-3) 62% (-2) 68% (-1) 73% (+1) 78% (+1) 69% (+2)
Figures in parentheses show difference to prior year
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 13…More Focused on Monthly Payments
Most Important Aspect of Pricing
Total Price and
Total Price of the Vehicle Monthly Payment Monthly Payment
Total 44% 22% 34%
46% 25% 29%
B
New
(A)
Used
(B) 44% 20% 36%
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 14New Buyers Are Less Likely
to Visit Their Prior Dealer
Changes in Dealership Experience
Among New Buyers
Number of Dealerships Visited
2.2
2.5 in 2019
Prior Dealership Experience
46%
52% in 2019
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 15Opportunity for Dealer Sites to Be More Influential
Buyers Visiting Dealer Influence on Visiting
Sites Before Purchase the Dealership
64%
44% 45%
42%
40% 58%
59%
54%
2019 2020 2019 2020
New Used New Used
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 16New Buyers Trust Cox Automotive as Having the Most Accurate Price
Sites Trusted to Have the Most
Accurate Price Among New Buyers
2020 2019
30% 28%
7% 6%
33%
of new buyers trusted Cox Automotive
7%
4%
8%
8%
to have the most accurate price 4% 3%
(32% in 2019)
3% 4%
1% 2%
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 17Cox Automotive Reaches Almost 6 in 10 New Buyers
Third-Party Websites/Apps Used
to Research & Shop
1
59%
2
3
of new buyers used 4
Cox Automotive
(63% in 2019) 5
Tied
5
7
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 18Nearly 3 in 4 New Buyers Make Use of KBB Tools
Use of KBB Tools Among New Buyers
2020 2019
KBB Website for
Researching 55% 57%
and Shopping
KBB Values 54% 60%
KBB Price Advisor 38% 43%
KBB Value for
35% N/A
Purchased Vehicle
KBB Touch 72% 76%
N/A indicates question was not asked that year.
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 19Implications: Provide Assurance to Yield Trusting Deal
Leverage valuation tools to promote
transparency and strengthen trust
Develop influential messaging to impact
dealer sites in driving traffic to showrooms
In-field dates: Sept – Oct 2019 (Pre-COVID) 20USED BUYERS
ARE MORE ENGAGED
21There Is a Shorter Window to Engage Used
Buyers as Their Purchase Horizon
Declines By a Month
Days In-Market
100
85
2017 2018 2019 2020
New Used
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey Study 22Inventory Levels Increase, Leaving Buyers More Vehicles to Choose From
Off-Lease Inventory Volume (Millions)
4.1 4.1
3.9
3.5
2017 2018 2019 2020F
Please note: Volume for 2020F is subject to change due to Covid impact on deferrals on lease returns and extended lease maturities
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: Cox Edit
Automotive
Master text
Estimates
styles 23Used Buyers Spend More Time Online Shopping
Research & Shopping Online
Time Spent Among Used Buyers
10:25 (+1:32)
(8:53 in 2019)
In-field dates: Sept – Oct 2019 (Pre-COVID) 2019 Cox Automotive Car Buyer Journey 24… And They Are Spending Their
Time on 3rd Party Sites
Changes in Website Usage
Used Buyer
82% 83%
78% 81%
47% 48%
46%
44%
27%
21% 23% 21%
2017 2018 2019 2020
Third-party sites Dealer sites OEM sites
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 25Third Party Sites are Essential as They are Most Likely to Be the First and Last Destinations
Used Vehicle Buyer First And Last Website Visited
(Among Those Visiting Multiple Websites)
5%
14% 3%
81%
6%
Google Search
65%
OEM Sites
69% Third-Party Sites
of used vehicle buyers
Dealership Sites
visited at least 2 websites
27%
11%
First Last
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 26Keep Used Buyers Engaged By Touting
The Vehicle Features and The Deal
Reasons For Selecting Vehicle
The The
Vehicle The Deal The Brand Dealership
New (A) 39% 25% 26% 10%B
Used (B) 39% 29%A 25% 7%
† Not sure excluded
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 27Cox Automotive Leads 3rd Party Site Usage
Third-Party Websites/Apps Used to Research & Shop
1
2
Tied
70%
2
4
of used buyers used 5
Cox Automotive
(70% in 2019)
6
7
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 28Over 8 in 10 Used Buyers Employ KBB Offerings
Use of KBB Tools Among Used Buyers
2020 2019
KBB Website for
Researching 63% 60%
and Shopping
KBB Values 59% 59%
KBB Price Advisor 55% 58%
KBB Value for
61% N/A
Purchased Vehicle
KBB Touch 84% 80%
N/A indicates question was not asked that year.
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 29Used Buyers Are Most Likely to Visit More Dealers In Their Quest
to Find the Right Inventory
On Average, Buyers Visit
New (A) Used (B)
2.2 2.4 A
(2.5 in 2019) (2.2 in 2019)
Prior Dealership Experience
New (A) Used (B)
46% B
26%
(52% in 2019) (32% in 2019)
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer Journey 30Walk-ins Are Still the Most Popular, However They are Declining as Phone-In is Gaining Some
Traction
Initial Contact With Dealer of Purchase
Among Those Who Purchased/Leased From a Dealership
Walk-in Phone Email Online Chat
B
51% A
44%
21% 28% 5% 6%
16% 15%
New Used New Used New Used New Used
(A) (B) (A) (B) (A) (B) (A) (B)
2019 49% 53% 20% 23% 16% 13% 6% 4%
Other contact methods: Text - New 3%, Used 2%; Social Media - New 1%, Used 1%
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 31Used Buyers’ Thorough Research
Efforts Help Boost Their Satisfaction
69%
Overall Satisfaction with
Experience at Dealership of Purchase
(65% in 2019)
In-field dates: Sept – Oct 2019 (Pre-COVID) Edit Study
Source: 2020 Cox Automotive Car Buyer Journey Master text styles 32Implications: Ensure Time Spent Online and Offline Is Quality
Time
Keep listings updated and spotlight
popularly equipped vehicles to drive incremental
online and showroom traffic
Utilize valuation tools to optimally
price vehicles for faster turn
In-field dates: Sept – Oct 2019 (Pre-COVID) 33A TRUE DIGITAL RETAILING
WIN REQUIRES COMMITMENT
34The Used Buyer Experience at the Dealership Improves
Overall Satisfaction with
Experience at Dealership of
73% (+1) 69% (+4)
New (65% in 2019)
New (72% in 2019)
Purchase
Interactions with Selection of Trust Dealer
The Test Driving The Price Paid Interactions How Long the
Dealerships’ Vehicles Gave the
Process for the Vehicle with Finance Process Took
Sales Available Best Deal
New (A) 78% (+1) 73% (+1) 68% (-1) 69% (+2) B 62% (-2) 48% (-3) 61% (-6)
Used (B) 78% (+5) 69% (+5) 66% (+7) 61% (+2) 60% (+9) 46% (+7) 55% (+3)
77% 72% 69% 67% 64% 51% 67%
2019 New
73% 64% 59% 59% 51% 39% 52%
Used
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 35Buyers Spend Nearly Half of the Time at the Dealer on Negotiations and Paperwork
Time Spent With Dealership/ Total New (A) Used (B)
2:50 2:48 2:50
Seller Where Purchased
Looking at Vehicles and Talking with Sales People 0:48 0:48 0:48
Test Driving Vehicles 0:28 0:25 0:29A
Negotiating a Price and Trade-in Offer 0:32 0:36B 0:30
1:21
Discussing and Signing Paperwork 0:49 0:41 0:52A
Setting Up the Vehicle Upon Purchase 0:13 0:18B 0:12
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 36Negotiations and Time Spent Completing
Paperwork are Top Pain Points
Top Frustrations at the Dealership
Among Total Buyers
Filling out paperwork/contracts 33%
Negotiating a price 27%
Finding the best deal/price 20%
Dealing with the salespeople 16%
Searching inventory/Finding a vehicle 12%
Applying for financing 12%
The most frustrating
Valuing a trade-in 11% aspect of filling out
paperwork continues
Receiving an offer for a trade-in 8% to be time spent waiting
All other frustrations 6% or less.
Arrows indicate significant difference to prior year at the 95% confidence interval
Source: 2020 Cox Automotive Car Buyer Journey Study
37
In-field dates: Sept – Oct 2019 (Pre-COVID)Buyers Who Are More Committed to DR Activities Reap the Most Rewards
Satisfaction Level
(Among Digital Retailing Users - Completed Online Away From the Dealership)
Light User Moderate User Heavy User
(1-2 Activities) (3-6 Activities) (7+ Activities)
(A) (B) (C)
AB
How Long the Process 54%
Took (at Dealership) 43% 44%
(%8-10)
A
Shopping Experience A 40%
was Better than 36%
29%
Previously
Time Spent at the 2:59 2:58 2:45
Dealership
Letters indicate significant difference between groups at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 38Those Who Engage in Active DR Activities Yield The Best Buying Experience
SATISFACTION LEVEL
(AMONG DIGITAL RETAIL USERS – COMPLETED ONLINE AWAY FROM THE DEALERSHIP)
Passive Active
Find Select
Find Find out
information on Research Request a Negotiate Apply for extended
information what my Calculate
extended financing/ dealer a final a car warranty, Schedule a Finalize Reserve a
DR Activities on current warranties, leasing
a monthly
price purchase loan/get service test drive the deal vehicle
special vehicle is service payment
options quote price financing packages
offers worth packages, etc. and add-ons
How Long the Process 61% 59%
51% 56% 53%
Took (at Dealership) 47% 46% 49% 46%
44% 44% 43%
(%8-10)
Shopping Experience 56%
44% 39%
was Better than 33% 32% 36% 38% 37% 34% 37% 38% 38%
Previously
Time Spent at the
3:02 2:56 3:01 2:58 2:59 3:07 2:35 2:45 2:47 2:59 2:25 2:43
Dealership
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 39Implications: Catapult Digital Retailing Into a Major Win
Educate buyers on DR benefits and
encourage them to partake in DR activities
Ensure a seamless process online and in-store
In-field dates: Sept – Oct 2019 (Pre-COVID) 40STUDY IMPLICATIONS
41Implications for OEMs
Make use of the retention and conquest versatility
of 3rd party sites as they reach the most buyers
and can help drive traffic to OEM sites
Time-savings is a priority, however customer experience
is crucial as consumers are more satisfied with the
dealership experience if they spend time getting to know
the vehicles and securing a trusting deal
Continue to develop training to educate dealers on
vehicle attributes, the value pricing tools bring and
creating quality time with prospects
Leverage digital retailing tools to drive
consumers to partake in DR activities
for improved showroom experience
Encourage dealers to acknowledge
and reward buyers who performed DR activities. Position
it as time well-spent versus a waste of time
In-field dates: Sept – Oct 2019 (Pre-COVID) 42Implications for Dealers
Identify customers in your CRM program who are
likely to return to the market in the near term and
proactively communicate offers to them
Provide assurance to buyers by promoting
valuation tools to help them reach a deal they trust
Make impactful enhancements to dealer sites to drive
more traffic to showroom for improved loyalty
Keep listings updated and spotlight popularly
equipped vehicles to drive incremental online
and showroom traffic
Leverage Digital Retailing tools to drive
consumers to partake in DR activities
for improved showroom experience
In-field dates: Sept – Oct 2019 (Pre-COVID) 43APPENDIX
Edit Master text styles 442020 Buyer Profile
Buyer Profile
Total New (A) Used (B) Total New (A) Used (B)
Male 44% 52%B 41% Suburban 61% 63% 61%
Female 56% 48% 59%A Urban 18% 19% 18%
Gen Z (1996-2011) 1% 1% 2%
Rural 21% 18% 21%A
Millennial (1982-1995) 23% 18% 24%A
Income Under $75K 42% 33% 45%A
Gen X (1965-1981) 38% 35% 38%
Baby Boomer (1946-1964) 32% 36%B 31% Income $75K+ 58% 67%B 55%
Pre-Boomer (Pre-1946) 6% 10%B 5% Have Children 47% 42% 49%A
White/Caucasian 88% 89% 88% Use Uber or Lyft 43% 42% 44%
African American or Black 6% 5% 6%
Do your own oil changes 18% 13% 20%A
Hispanic 5% 6% 5%
Asian 4% 5%B 3%
Other 4% 3% 4%
*Ethnicity/Race & Income excludes prefer not to answer
Letters indicate significant difference between New and Used at the 95% confidence interval
Arrows indicate significant difference to prior year at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 45Buyers Predominately Prefer Third-Party Sites for Their Shopping Tasks
Third-Party, OEM and Dealer Site Usage in Traditional Online Shopping Activities*
Third Party Sites OEM Sites Dealer Sites
Browse vehicle images/pictures/videos 45% 11% 20%
Research vehicle pricing 64% 4% 13%
Find actual vehicles listed for sale 52% 5% 23%
Compare vehicles/brands of interest 62% 6% 10%
Find information on specific vehicle specifications,
44% 14% 21%
options, or features
Read expert/consumer ratings & reviews 62% 5% 6%
Locate a dealer or get dealer information 40% 8% 23%
Determine how to get rid of my car 58% 2% 14%
*Question added in 2020. Excludes Google
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive Car Buyer
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styles 46KBB Continues to Be Critical in
Building Trust With Buyers
Sources Used to Value Vehicle Among New Buyers
(Among those who sold or traded in their vehicle)
2020 2019
KBB 66% 63%
69%
Edmunds 21% 20%
CarFax 9% 12%
AutoTrader 8% 12%
of New Buyers Used Cars.com 8% 13%
Cox Automotive to Value Vehicle
(68% in 2019) TrueCar 8% 14%
CarGurus 4% 6%
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Auto Car Buyer Journey Study 47A Third of New Buyers Utilize Cox Automotive Sites Without Even Visiting an OEM Site
40%
38%
59%
of new buyers visited
34%
of new buyers visited
31%
KBB or Autotrader KBB or Autotrader and
not an OEM
31%
31%
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 48Regardless of What Brands Consumers Bought, They Cite Third-Party Sites
as the Top Site Used to Make Their Final Decision
New Buyer Deep Dive
Luxury Non-Luxury
(A) (B) (C) (D) (E) (A) (B)
Top Websites Third Party 48%BC 37% 36% 47%BC 38% 42% 45%
Used To
Make Final OEM 32% 26% 33% 38%B 29% 37% 32%
Decision on
Vehicle Dealer 40% 38% 36% 37% 36% 32% 38%
The Vehicle 36% 37% 35% 37% 37% 44% 38%
Reasons for The Brand 36%BCE 23% 17% 34%BCE 19% 30% 26%
Selecting
Vehicle The Deal 19% 28%A 35%AD 24% 35%AD 16% 27%A
The Dealership 9% 12%D 13%D 5% 9% 10% 9%
Letters indicate significant difference between groups at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 49Among New Luxury Buyers, Third-Party Sites Are Most Used to Make Their Final Decision
New Luxury Buyer Deep Dive
(A) (B) (C) (D) (E)
Third Party 59% 40% 54% 43% 42%
Top Websites
Used To Make
OEM 34% 26% 24% 44% 48%BC
Final Decision
on Vehicle Dealer 31% 33% 41% 40% 33%
The Vehicle 38% 34% 53% 37% 45%
The Brand 36% 42%CD 21% 19% 33%
Reasons for
Selecting Vehicle
The Deal 18% 9% 13% 27% 22%
The Dealership 8% 15%E 13%E 17%E 0%
Letters indicate significant difference between groups at the 95% confidence interval
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 50Distinction of Passive vs. Active DR Activities
Passive DR Activities Active DR Activities
• Find out what my current vehicle is worth • Apply for a car loan/get financing
• Find information on special offers • Schedule a test drive
• Calculate a monthly payment • Reserve a vehicle
• Research financing/leasing options • Negotiate a final purchase price
• Find information on warranties, • Select extended warranty, service
service packages, or add-ons packages and add-ons
• Finalize the deal
• Request a dealer price quote
In-field dates: Sept – Oct 2019 (Pre-COVID) Source: 2020 Cox Automotive
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styles 51You can also read
