Auto Industry Trends: Online Vehicle Purchase

COVID-19 induced changes in the way people search for and buy cars. As a result, customers have built a new habit of searching for vehicles online, pushing dealership businesses to adopt new approaches and snatch opportunities to win clients before their competitors.

So, how can you stay on top of the developments in the auto industry trends while ensuring that your dealership follows the best industry practices?

In this article, we delve into the new auto industry trends and what they mean for your business so you can be in the best position to reap the benefits of the new ways people purchase their vehicles.

Thus, let’s jump right into it. Shall we?

Trends in Online Vehicle Purchases That Your Dealership Should Know

Buying a Car Online Is Becoming a Norm

If in the past we couldn’t imagine purchasing a new vehicle entirely online without seeing it in person, this is no longer the case. According to statistics, just 2% of automobile purchases were made online before the pandemic; however, in 2020, more than 30% of new vehicles were sold online. Hence, as a dealership owner, you must adapt to the new digital ways your clients research and purchase cars.

The Vast Majority of Vehicle Purchase Research Starts Online

A study by Google shows that 95% of vehicle buyers research their next car online rather than visiting the dealership in person. During the discovery phase, customers conduct extensive web research, looking into numerous aspects, such as vehicle cost, finding new or used cars listed for sales, comparing makes and models, and locating the nearest dealership.

The Importance of Instance and Up-To-Date Customer Support Is Growing

People want minimum friction when it comes to shopping online. So, your job is to remove digital obstacles and simplify the customer journey from the initial contact to the vehicle purchase and aftersale support. 

If a potential customer is on your dealership website, you must ensure that it contains relevant and up-to-date information. You also must be prepared to answer any questions that might arise to your prospects, whether they want to find out more about a particular vehicle or even book a test drive.

Especially during off hours, the DealerAI automated chatbot can continue to provide customer support and keep up with inquiries from prospective clients without needing to tap into human agents. Instead, the tool offers conversational AI-powered live chat automation delivering instant and real-time customer service, so you can capture your leads at the right time and convert them into buying clients.

Want to see for yourself how we do it? Book a demo with us today!

Top Vehicle Purchase Consumers Millennials Prefer a Self-serve Experience

Technology-savvy millennials topped baby boomers are at the stage of needing a new vehicle to start their own families. However, they have unique expectations while shopping. Surveys indicate millennial consumers want technological customer service solutions they can use independently; they enjoy self-serve customer services. However, enhancing customer service does not necessarily mean employing more BDCs. Hence, dealerships should look for ways to simplify the car buying process and answer their queries as quickly and efficiently as possible.

Final Thoughts

Online automobile sales have boomed thanks to people using the internet to shop for new or used vehicles, research, and compare dealerships.

It’s not too late for dealership owners and executives to take action now and invest in improving digital car shopping capabilities for your prospective and existing customers.

Explore how you can elevate your car dealership business with the help of Dealer AI.

See How DealerAI Can Boost Sales and Revenue for Your Dealership