Study: 75% of New Car Buyers Satisfied With Shopping

Study: 75% of New Car Buyers Satisfied With Shopping

The car shopping experience is getting better. New car buyers were more satisfied with their shopping experience in 2024 than at any point in the last 15 years, according to a new study.

Digital tools get much of the credit – 82% of shoppers completed more than half the steps of the buying process online.

Cox Automotive’s researchers surveyed more than 2,300 consumers who bought a new or used vehicle in a 12-month period ending August 2024 for their 15th annual Car Buyer Journey Study. Cox Automotive owns Kelley Blue Book.

Related: Is Now the Time to Buy, Sell, or Trade-in a Car?

Notably, 42% of new-car buyers stated their experience was better than their prior purchase, with dealership satisfaction reaching a historic high of 81%.

New Car Shoppers Happier Than Used Car Shoppers

While 75% of new car shoppers were pleased with their experience, just 64% of used car shoppers said the same. That pulled the overall satisfaction score down to 67%, 2% below last year’s figure.

Dealers may be able to do little about some of the factors separating the two scores. New car shoppers had an abundance of choices in 2024 as the industry recovered from several supply chain crises. By the end of the year, some automakers had significantly more inventory than they wanted to have, triggering discounted prices.

Used cars, however, remained in shorter supply throughout the year, propping up prices. That’s likely to remain the case in 2025. Due to COVID-19-related supply problems, automakers built about 8 million fewer cars than they otherwise would have. That will keep the used supply thin for years to come.

Buyers of used vehicles are also less likely than those who buy new to encounter improved digital tools that support a seamless, efficient buying process.

Online for Some Steps, off to the Dealership for Others

Using those digital tools saved the average buyer time at the dealership. Buyers completing key steps online, such as applying for credit or pre-filling paperwork, saved an average of 42 minutes at the dealership. New vehicle buyers saved more time — at 49 minutes — while used vehicle buyers saved 40 minutes.

But most shoppers said they value visiting the dealership for some steps, like completing a test drive, asking questions, and picking up their new car.

The overall shopping process, including online research, took longer in 2024 than in 2023. However, buyers spent less time in the dealership and were more satisfied.

EV Buyers More Satisfied

Eighty-two percent of shoppers who bought an electric vehicle (EV) described themselves as “highly satisfied” with their shopping experience, compared to 75% of those who bought a gas-powered car.

Seventy-six percent of EV buyers indicated they used digital tools in the buying process, whereas only 42% of traditional gas-powered car buyers took steps online. Sixty-four percent of hybrid buyers engaged online tools.

With more buyers embracing online buying tools, EV buyers, on average, spend the least time at a retailer negotiating and finalizing paperwork. EV buyers were also more satisfied with how long the entire shopping process took.

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