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Prepare to change
3 new studies conclude that car buyers' changing expectations mean auto dealers and manufacturers must change, too.
Autotrader
• 54% of consumers would buy from a dealership that offers their preferred experience, even if it didn't have the lowest price.
• 72% would visit dealerships more often if the buying process was improved.
DrivingSales
• 56% of shoppers would buy more cars if the process was easier.
• Auto sales could rise about 25% if the retail experience improves.
McKinsey & Co.
• Manufacturers and dealers jointly spend almost $8,500 per vehicle on marketing and sales activities over a vehicle's lifetime.
• Dealership profitability could increase dramatically over today's average margin of 2.2% by making operational improvements and streamlining marketing expenses.
NEW YORK — If auto dealers and manufacturers would give customers a better shopping experience, those customers would visit dealerships more often and even buy more vehicles, two new studies conclude.
