Buying A Car an Infographic and Some Important Stats

[Jeff Kershner]

 

According to a recent study by Lab42, the top four frustrations in the vehicle purchasing process are, dealing with salespeople, finding the right vehicle, the time spent on the process and understanding finance.

Four out of four of these frustrations sit at your dealership.

1. Spending time on the process
   What processes does your dealership have in place to prevent these four frustrations?
   
2. Dealing with Sales People
   How do your salespeople treat potential customers with such respect and create that lasting relationship that will keep them in the service lane year after year - and coming back to them for their next vehicle purchase?
   
3. Finding the right car
   What does your website do to lower the time spent researching their next vehicle?
   
4. Understanding Financing
   Are you further complicating finance due to your own incentives and priorities?

Additional stats include:

• 52% Don't know what make or model they intend to buy before arriving at the dealership.
  
• 73% wish there was one fixed price for each car so there was no negotiation needed - really?
  
• 48% of buyers are spending 1-3 months shopping before making their purchase.

What do you think of these stats?

Add your comments, suggestions and opinions below.



Infographic courtesy of Lab42

 

[Janis Williams Showers]

That's why SP need to confirm car on the follow-up call - you are losing people because you're on the wrong car - we are sooooo focused on price we miss this. Good Point Dealer Refresh!

 

[Aaron Wirtz (blog)]

Simple, useful, to the point. Great post!

 

[Hunter Swift]

Biggest mistake in the sales process a salesman can make is trying to hard sell/close someone on the wrong car.

 

[Livefyre]

Biggest mistake in the sales process a salesman can make is trying to hard sell/close someone on the wrong car.

 

[Dealer HD]

Very cool info graphic.

 

[Livefyre]

Very cool info graphic.

 

[DrewAment]

** 73% wish there was one fixed price for each car so there was no negotiation needed
 
There is one price.. it is called MSRP!  

 

[William Bryant]

I'm curious about the source of this data... 73% want one and ONLY one price??? I wouldn't be surprised to find a half-truth in that... consumers wish they only had to deal with one price. But once they get to the store to do the deal, so many want to negotiate. Even with all the research being done and that research being sold as a benefit. I know a lot of people do want just one price but it's not 73%.
 
And 52% don't know what make or model they're going to buy? I know a lot buy something other than what they intended, but 52% have no clue?
 
I dunno....

 

[Jeff Kershner]

52% don't know what they want to buy? I would argue with this. I WOULD agree that over 52% don't purchase the exact vehicle (model, color, trim, option, used/new) they intended to before they stepped into the dealership.
I do believe consumers want One Price, in theory, but have been conditioned to negotiate. Thats the industries fault. Reversing that conditioning has proven to be a huge challenge.