Infographic with key statistics on how consumers are shopping for cars
The 2014 Automotive Buyer Influence Study provides insight into consumer behaviors for vehicle shopping.
Since 2011, the IHS Automotive Buyer Influence Study has provided groundbreaking information about the influence of media among New and Used Car Buyers. This 2014 study shows that the Internet continues to be the most-used and most-influential source among consumers, with Millennials leading the way in this growth. Car buyers are spending 75% of their time shopping online, and mobile device use is growing.
This infographic highlights key statistics from the 2014 Automotive Buyer Influence Study, including:
- How much time consumers are spending car shopping
- The amount of time allocated to online car shopping
- How and where consumers are spending their online car shopping time
In this intensely competitive market, it is critically important for automotive marketers to understand how new vehicle buyers shop for their vehicles. The 2014 Automotive Buyer Influence Study, commissioned by AutoTrader.com through IHS Automotive, provides insight into consumer behaviors for vehicle shopping. Its findings highlight the importance of reaching shoppers before they reach the dealer’s lot, Internet and smartphone use during the shopping process, and more.
- Used-car values to end 2014 higher than last two years
- Sports car, subcompacts tied for worst-performing segments
- Full-size truck values continue declines in third quarter
- Compact and mid-size SUV/crossover values remain higher year-over-year
- Full-size car values at lowest levels in 2014
In order to better understand what defines operational excellence, AutoTrader examined 20,000 dealerships on its website to discover which ones were the highest performers in terms of driving customers to their virtual experience. Using these results, AutoTrader commissioned a third party to conduct a qualitative analysis of these dealers. The analysis identified eight fundamental areas of front-end dealership operations leading to a sale.
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