New Study Indicates Variance of Dealer Sales Experience

Market Watch

Fore­sight Research study shows not all buy­ers use the same cri­te­ria to choose a deal­er or are influ­enced by the same deal­er expe­ri­ence and sales process­es.

Find out more about what the study indi­cates for deal­ers.

Accord­ing to the Fore­sight Research 2013 Deal­er­ship Report ©, based on a study of 7,543 recent US new car and truck buy­ers, not all buy­ers use the same cri­te­ria to choose a deal­er or are influ­enced by the same deal­er expe­ri­ence and sales process­es. Auto­mo­tive fore­cast­ers believe that old­er buy­ers will con­tin­ue to dom­i­nate the new car mar­ket for a least a few years, while younger buy­ers will slow­ly but steadi­ly enter the mar­ket as the econ­o­my and job mar­kets con­tin­ue to recov­er. Dif­fer­ent buy­ers have dif­fer­ent pri­or­i­ties and meet­ing these expec­ta­tions impact the out­come — influ­enc­ing the pur­chase. This study is about how deal­ers can mod­i­fy the sales expe­ri­ence to meet the needs of these dif­fer­ent buy­er groups and bet­ter influ­ence the pur­chase — the essen­tial goal for improv­ing sales.

Fore­sight Research found:

  • While 17 dif­fer­ent auto­mo­tive mar­ket­ing com­mu­ni­ca­tion chan­nels are ana­lyzed in this study, none are more influ­en­tial to the pur­chase deci­sions of new car and truck buy­ers than the deal­er­ship expe­ri­ence with the excep­tion of pri­or brand expe­ri­ence. (49% of all buy­ers this past year report that their deal­er­ship expe­ri­ence was high­ly influ­en­tial to their deci­sion to pur­chase the vehi­cle they did).
  • The aver­age new vehi­cle buy­er today is old­er (near­ly half are over age 55). They are also wealth­i­er and expe­ri­enced with the buy­ing process. Deal­er rep­u­ta­tion and rela­tion­ships are key to this group.
  • Younger buy­ers (many of them first time buy­ers) bring a nar­row­er set of expec­ta­tions into their buy­ing process. These buy­ers want and need deal­er assis­tance, but one out of four say their deal­er­ship expe­ri­ence took too long.
  • Buy­ers aged 35–54 (rep­re­sent­ing 37% of cur­rent buy­ers) reflect a mix­ture of their younger and old­er coun­ter­parts. Like younger buy­ers, they are very con­cerned with get­ting a good price/deal, and financ­ing options. Yet like old­er buy­ers, they have high expec­ta­tions of their deal­er expe­ri­ence.

 

 

 

 

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