2022 Car Buying Outlook
Car buyers plan on adopting a hybrid approach to buying their next car
Dealers plan to innovate with new digital tools.
82% of car buyers are most comfortable with a hybrid or in-person approach to buying a car
38% of dealers reported financing as the aspect of their business that is most in need of innovation, and 45% plan on digitizing financing in the next six months
Future car buyers are planning to visit more dealerships, with 42% planning to visit at least three dealerships, compared to current car buyers
Car Buyers Say Dealerships Matter More than Dealers Think
Consumers are increasingly interested in conducting aspects of car shopping in person rather than entirely online.
Two out of Five Car Shoppers Are Likely to Consider an EV for Their Next Car
Electric vehicles are making inroads among in-market shoppers.
Used Car Prices Are Likely to Remain High. Here's Why.
Recent sharp price increases of used vehicles are not going away anytime soon.
The 400 respondents work for an automobile dealership as an owner, general manager, F&I director, sales manager, internet manager, or in the business development center at dealerships with an approximate annual sales volume of at least $1M.
The survey was fielded June 07-09, 2022 with the margin of error +/- 5%.
Of the 2,209, 378 have purchased a car in the last six months and are considered “current buyers”, and 1,831 self-reported that they’re planning to purchase a car within the next two years and are considered “future buyers”.
The survey was fielded June 08-12, 2022 with a margin of error of +/- 2%.