Recent Study by CAR-Research XRM
CAR-Research XRM recently released findings from its study of the top reasons car buyers really leave the auto dealership without buying.
The study used a sampling pulled from January 2012 through December 2012 of 167,503 Interviews with customers from over 150 auto dealerships across the US, conducted by CAR Research XRM’s Certified Research Call Center.
In response to the question “Why did you leave the Dealership?” the generic answer “Still Shopping” ranked at 25% as the highest single reason. However, a full 48% of customers surveyed gave further details that they left because of a specific reason that they were still shopping; including Price, Financial, Inventory, and Style.
The survey found the top reasons car shoppers left without buying to be as follows:
- Still Shopping 25%
- Price 15%
- Financial 13%
- Inventory 10%
- Style 10%
- Payments 5%
- Other 5%
- Sales Staff Issues 4%
- Trade 4%
- Decision Maker Absent 3%
These results are taken from a sampling of 167,503 Interviews from over 150 auto dealers pulled from January 2012 through December 2012.
Other key findings from the survey include:
- Items that ranked from 2–5 (Price, Financial and Inventory) accounted for 38 percent of the reasons cited by customers for leaving a dealership without purchasing a vehicle.
- The majority of these customers did receive key Road to Sale process steps while at the dealership, Including Product Presentation (79%), Demo Drive (62%), Service Introduction and Walk (38%), and Manager TO Interview (52%).
“According to JD Powers, today’s shoppers only visit 1.4 dealerships before purchase, DOWN from 4.5 in 2005. Showroom visitors come to the first dealership they visit more ready to buy than at any other time in modern car sales history: In other words, it’s not about Be-backs any more–it’s about being FIRST! And our own data from over four years shows that the ones that DO leave for other dealerships left because of financing, inventory, and price. Don’t let them leave for these reasons–it’s time to sharpen our processes and our sales skills!” said Patrick Kelly, CAR-Research President and COO.