CDK Global Ease of Purchase Scorecard improves in October, fueled by available inventory
Sales might be softening for a myriad of reasons, but dealerships appear to be making it an easier path to successful delivery.
October survey results of the Vehicle Ease of Purchase Scorecard from CDK Global showed that 84% of those polled found the vehicle-buying journey to be easier.
The reading represented 2% improvement over September results.
The automotive retail software provider explained through a news release that the smoother process can be attributed in part to replenishing vehicle inventory, as 68% of consumers found their “tried-and-true” choices to purchase in October, slightly edging out September’s results at 67%.
CDK Global added that 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, relative to 37% in September. Last month, 44% of customers found cars and trucks they were looking for at the dealership. October’s change shows a modest improvement with in-stock vehicle availability as fewer customers had to wait for in-transit or factory order deliveries.
—Time spent at the dealership is improving, with the biggest shift showing a 20% relative dip as 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 consumers polled 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,” CDK Global director of content marketing and automotive industry analyst David Thomas said.
“This positive shift is an indicator that the customer purchase journey may continue to become easier in the months ahead,” Thomas added.