A new era in car buying 🚗 is emerging as manufacturers shift towards fixed, non-negotiable prices in direct-to-consumer models. According to a recent Boston Consulting Group (BCG) study, nearly 68% of car buyers prefer paying a mark-up to avoid the hassle of price negotiations. This trend, discussed by BCG’s Ferdinand Harries and Professor Dominik Papies, highlights a significant change in consumer behavior, with fixed prices becoming increasingly popular. Discover more in our latest article, featured in the St. Gallen Marketing Review: https://lnkd.in/een_enR5 #AutoAIbyBCG #AutomotiveIndustry #AutoInnovation #FutureOfMobility #DigitalTransformation
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Navigate the ever-evolving auto landscape with a robust understanding of consumer behaviors. View this infographic to explore key findings from our recent auto retailing study: http://transu.co/6047b73QT #TransUnion #AutomotiveSolutions #CustomerIntelligence #AutoRetailing
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Navigate the ever-evolving auto landscape with a robust understanding of consumer behaviors. View this infographic to explore key findings from our recent auto retailing study. https://lnkd.in/dyYz4y85 #TransUnion #AutomotiveSolutions #CustomerIntelligence #AutoRetailing
[INFOGRAPHIC] Insights Into the Car Buying Experience
transunion.com
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Excited to share our latest US Auto Retail Survey from the Boston Consulting Group (BCG) Auto and Mobility Team. Three key themes: 1. Dealers went from bearish to bullish on EVs and are more worried about competitive threat from EV OEMs going direct to consumer than a year ago 2. In response, legacy OEMs want to evolve the franchise model – 98% of dealers are actually willing to make concessions and find common ground with OEMs in defining new rules of engagement 3. As digital shopping continues to gain traction, a strong omni-channel experience becomes a must-have, even if the brick & mortar dealership remains a key piece of the buying journey Huge thanks to Augustin K. Wegscheider, Karen Lellouche Tordjman, and Eric Jesse for their leadership on this important topic. Read the full report: https://lnkd.in/gdbz5r-g #ElectricVehicles #AutoRetail #EVs #BCGDealersurvey
2023 US Auto Retail Survey: A Three-Point Turn for Retailers
bcg.com
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Our auto retailing study revealed key findings on how car shoppers prefer to communicate with dealerships and their behaviors before purchasing. View our new infographic for pertinent metrics and insights. https://lnkd.in/gB_bD2P4
[INFOGRAPHIC] 2023 Auto Retailing Study
transunion.com
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Our first monthly Industry Insights Report is in the books. So much incredible data from our platform around supply, demand, pricing, and consumer and dealer behavior. More to come in early March!
Hey check it out: our first Industry Insight Report dropped today. 📈👀 Our team is analyzing supply, demand, pricing, and consumer behavior data from across our platform — and then simplifying outlooks and insights for you to take action on. View the full report to get a pulse on key trends, including: 1️⃣ The active shift to a buyers market with rising new car inventory levels 👨👩👦 2️⃣ Shifting financing activities still leading to total purchase costs significantly exceeding MSRP 💰 3️⃣ Increasing options for budget-conscious consumers on the new car side helping maintain sales growth 📈 4️⃣ Decreasing used car supply introducing even more volatility to the used car market 📉 5️⃣ Growing EV inventory and the strategies dealers are putting in place to help move them ⚡️ Check out the full report at https://lnkd.in/gUDUWizh #AutomotiveInsights #NewCarStrategies #UsedCarStrategies #Automotive #CarsCommerce 🤓
Industry Insights Report | January 2024
https://www.carscommerce.inc
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Hey check it out: our first Industry Insight Report dropped today. 📈👀 Our team is analyzing supply, demand, pricing, and consumer behavior data from across our platform — and then simplifying outlooks and insights for you to take action on. View the full report to get a pulse on key trends, including: 1️⃣ The active shift to a buyers market with rising new car inventory levels 👨👩👦 2️⃣ Shifting financing activities still leading to total purchase costs significantly exceeding MSRP 💰 3️⃣ Increasing options for budget-conscious consumers on the new car side helping maintain sales growth 📈 4️⃣ Decreasing used car supply introducing even more volatility to the used car market 📉 5️⃣ Growing EV inventory and the strategies dealers are putting in place to help move them ⚡️ Check out the full report at https://lnkd.in/gUDUWizh #AutomotiveInsights #NewCarStrategies #UsedCarStrategies #Automotive #CarsCommerce 🤓
Industry Insights Report | January 2024
https://www.carscommerce.inc
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Visionary Leader | Acquisition Specialist | Corporate Purchasing Director | 5F Consulting Founder | Automotive Advisor | Vice President
The ongoing inventory shortage in the used car sector, estimated at 800,000 vehicles, is expected to perpetuate volatility within the market. This presents a challenging landscape for stakeholders. However, with a strategic plan in place, it is possible to navigate these complexities effectively. Crafting a well-thought-out approach is essential for stakeholders to adapt to the current market dynamics and maintain resilience in the face of adversity. Great insight in this article. John Ellis Durran Cage Brian Kramer #strategicexecution #carbusiness
Hey check it out: our first Industry Insight Report dropped today. 📈👀 Our team is analyzing supply, demand, pricing, and consumer behavior data from across our platform — and then simplifying outlooks and insights for you to take action on. View the full report to get a pulse on key trends, including: 1️⃣ The active shift to a buyers market with rising new car inventory levels 👨👩👦 2️⃣ Shifting financing activities still leading to total purchase costs significantly exceeding MSRP 💰 3️⃣ Increasing options for budget-conscious consumers on the new car side helping maintain sales growth 📈 4️⃣ Decreasing used car supply introducing even more volatility to the used car market 📉 5️⃣ Growing EV inventory and the strategies dealers are putting in place to help move them ⚡️ Check out the full report at https://lnkd.in/gUDUWizh #AutomotiveInsights #NewCarStrategies #UsedCarStrategies #Automotive #CarsCommerce 🤓
Industry Insights Report | January 2024
https://www.carscommerce.inc
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Wondering about the recent drop in new vehicle prices? With increased incentives and a growing inventory, the landscape of the market is evolving. But what implications does this hold for consumers? #NewVehiclePrices #CarMarketTrends #VehicleIncentives
Incentives Double, Driving Down New Vehicle Prices in March
autobodynews.com
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The really interesting piece for me is current EV owners being more likely to consider petrol than electric for their next vehicle. Importantly, I don't think this means they're going to replace their EV, but that they're not yet ready to change the other vehicle they own to electric. Talks to the current state of the market, and the fact that consumers still feel like they need a safety net 'just in case'... #EVInsights #AutomotiveInsights #NewVehicleInsights
New vehicles sales in Australia are undergoing a seismic shift, with brands transitioning to agency models, Direct To Consumer (DTC) sales on the horizon, supply chain issues ongoing, and EV sales surging Given this, consumer buying patterns are in a state of flux, so the latest from our Consumer Tracking Study dissects the changing landscape of automotive brand loyalty. Find out which manufacturers are leading the way in retaining current owners, which are lagging behind, and which need to overcome challenges with legacy models. Follow these shifts and more with us as we navigate the rapidly evolving Australian automotive sector. https://lnkd.in/gQ_Q62bH
car loyalty in flux as consumers consider new makes and models - Fifth Quadrant
fifthquadrant.com.au
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New vehicles sales in Australia are undergoing a seismic shift, with brands transitioning to agency models, Direct To Consumer (DTC) sales on the horizon, supply chain issues ongoing, and EV sales surging Given this, consumer buying patterns are in a state of flux, so the latest from our Consumer Tracking Study dissects the changing landscape of automotive brand loyalty. Find out which manufacturers are leading the way in retaining current owners, which are lagging behind, and which need to overcome challenges with legacy models. Follow these shifts and more with us as we navigate the rapidly evolving Australian automotive sector. https://lnkd.in/gQ_Q62bH
car loyalty in flux as consumers consider new makes and models - Fifth Quadrant
fifthquadrant.com.au
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