Ease of Purchase Score Slumps
CDK Global says result dipped from 85% to 81% in November.
Fewer buyers reported finding the car they wanted in stock in November.
IMAGE: Pexels
In October, higher inventories improved car availability and boosted positive feedback in CDK's Ease of Purchase survey. However, the trend took a swift turn in November when the overall ease of purchase score dropped from 85% to 81%.
While national inventories remained higher than in 2022, CDK Global also found just 46% of November buyers reported finding the car they wanted in stock compared to 52% in October.
It attributed the shift to the fact that 35% of buyers reported visiting only one dealership to complete their purchases in November compared to 30% of buyers in October.
Another area that took a hit in November, falling to 76% from 80% in October, was the ease of taking a test drive, the research showed.
The financial side of the purchase process remained a sore spot among consumers, CDK reported. The ease of trade-in value agreement remained unchanged for the third consecutive month, with just 49% of consumers finding it easy. Agreement on a final price also remained unchanged at 60%, while applying for credit only slightly improved to 63%from 61% in October, consumers indicated.
Survey respondents who reported a negative experience said the process took too long, according to CDK. In fact, one respondent called the wait time "ridiculous,” according to Dave Thomas, automotive industry analyst at CDK.
Still, 50% of buyers said the time it took was in line with their expectations, compared to 48% in October. More buyers in November (78%) also said salespeople efficiently used their time compared to 76% in October, the research showed.
Originally posted on Auto Dealer Today
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