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
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%.