MenuMENU
SearchSEARCH

Car Buying Gets Easier as Dealer Inventory Rises

CDK Global’s monthly purchase scorecard highlights October consumer buying trends

November 4, 2022
Car Buying Gets Easier as Dealer Inventory Rises

Scorecard provides monthly consumer sentiment.

Credit:

IMAGE: CDK

2 min to read


As consumers continue to buy cars and trucks at dealerships, they’re finding the process increasingly easier to navigate, according to an October Vehicle Ease of Purchase Scorecard survey by automotive retail software provider CDK Global.

The scorecard shows that 84% of those polled found the customer-buying journey to be easier – a 2% improvement over September results.

The smoother process can be attributed in part to replenished vehicle inventory, as 68% of consumers found their tried-and-true choices to buy in October, slightly besting September’s results of 67%. Visiting dealerships on site is proving fruitful for shoppers looking to secure their purchases efficiently. Survey data from the October Ease of Purchase Scorecard included:

  • Consumer-preferred in-stock vehicle availability jumped 20% in October, compared to 37% in September. Last month, 44% of customers found cars and trucks they were looking for at dealerships. October’s change shows a modest improvement in in-stock vehicle availability as fewer customers had to wait for in-transit or factory-order deliveries.

  • Time spent at dealerships is improving, with the biggest shift showing a 20% relative dip compared to September results of those who found the shopping and purchasing process took longer than expected.

  • Price negotiation and trade-in processes fluctuated, with a slight increase in polled consumers finding it easier to agree on a final price (59%), while securing a favorable trade-in value dropped slightly to 52%, versus 53% in September.

“Despite the below-normal level of vehicle inventory consumers are used to, our October data is showing that shoppers are still finding their top choices at auto retailer locations,” said David Thomas, CDK Global director of content marketing and automotive industry analyst. “This positive shift is an indicator that the customer purchase journey may continue to become easier in the months ahead.”  

More Dealer Ops

F&Iby StaffApril 2, 2025

DOWC Powers the Future of F&I for NESNA

Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.

Read More →
IndustryNovember 27, 2024

Six Powerful Questions

Take the time to answer these and lay the groundwork for a successful year-end.

Read More →
Dealer Opsby Hannah MitchellSeptember 19, 2024

Sunny Side Up

Many dealers are going green – both environmentally and cash-wise – by powering their stores with solar-generated electricity.

Read More →
Ad Loading...
IndustryAugust 26, 2024

Is It Time to Rethink Business Development Centers?

Their role at automotive dealerships is essential today to give salespeople time to close deals.

Read More →
Product & Technologyby Hannah MitchellAugust 22, 2024

A Backup Plan

DMS outage revealed a gap that dealers may want to fill.

Read More →
Dealer OpsAugust 20, 2024

Maximizing Revenue Potential

The strategic imperative for auto dealers is to prioritize F&I product sales and wealth-building in challenging times.

Read More →
Ad Loading...
IndustryAugust 7, 2024

How to Optimize Liquidity in a Fluid Environment

It's wise to not take your dealership's banking relationships for granted.

Read More →
IndustryJuly 29, 2024

Unlocking the Keys to Success

Why customer retention matters now more than ever

Read More →
Dealer Opsby StaffJuly 23, 2024

Store Names First Female Dealer Principal

Howard Bentley Buick GMC is now headed by Taylor Bentley Conner.

Read More →
Ad Loading...
IndustryJuly 18, 2024

Masters in Training

Rick McCormick preaches the wisdom of breaking into what he considers the top 3% of F&I managers with a stance of continuous development.

Read More →