CDK Global Launches Consumer Vehicle Ease of Purchase Scorecard
Monthly report to highlight vehicle buying trends among customers at U.S. dealerships
HOFFMAN ESTATES, Ill. – Oct. 12, 2022 – CDK Global Inc., a leading automotive retail software provider, today announced the Ease of Purchase Scorecard, a monthly snapshot of the consumer vehicle purchase process at dealerships. Over 1,000 customers were polled across the U.S. highlighting vehicle availability, the ease of securing cars or trucks of choice, and consumer expectations on time spent from the beginning of shopping experiences to completed sales.
According to the latest survey data, 82% of auto retailer customers are finding the vehicle purchase journey is becoming easier to navigate. The Ease of Purchase Scorecard revealed valuable insights for dealers looking to secure loyal customers and build trust for future sales, including:
- As inventory challenges continue to impact the industry, over 50% of those surveyed are visiting auto retailers to order their vehicles or are selecting ones in transit versus finding a car or truck in stock.
- Whether starting the process with online shopping or visiting a dealer location, 67% of customers are finding it easier to find vehicles they hope to purchase.
- Price negotiation and trade-in processes are becoming smoother at the dealerships, with 58% of those polled found it easy to agree on a final price and 53% receiving trade-in value for their former vehicle.
- Consumer perception shows an increase in time from interest to acquisition, with 56% of those surveyed said the process met their expectations or was faster than anticipated, compared to 65% in August.
“Dealerships will continue to play an integral role throughout the vehicle-purchase journey, securing cars and trucks that fit their customer’s lifestyle and in a timely and convenient manner,” said Peter Kahn, Senior Director of Research and Insights at CDK Global. “The Ease of Purchase Scorecard will offer auto retailers up-to-date and detailed monthly snapshots on how dealerships can streamline that process and strengthen areas to create a positive experience that stays with the consumer.”
About the CDK Global Inaugural Ease of Purchase Monthly Scorecard
The CDK Global inaugural Ease of Purchase Scorecard began in September 2022 with a monthly national sample average of 356 consumers who purchased new vehicles within the last three months. The interviews were conducted online by CDK Research & Insights. The Scorecard will be published each month for media use.
About CDK Global Inc.
CDK Global is the preferred enabler of automotive commerce, delivering a comprehensive, modern dealer management software platform and suite of solutions designed to help automotive dealers and manufacturers run their businesses successfully and create great experiences for consumers. The company serves over 15,000 retail automotive locations in North America and is a subsidiary of Brookfield Business Partners, the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Partners owns and operates high-quality businesses like CDK that provide essential products and services and which benefit from a strong competitive position.