The number of franchised auto dealers that offer all-online vehicle purchases has doubled in the past two years, according to Cox Automotive research.
Almost half of the dealers have now added the capability, according to Cox’s Digitization of Automotive Retail study, which also examined the role of artificial intelligence tools and third-party technologies in purchase efficiency and satisfaction.
Nearly 400 dealers were surveyed, along with nearly 2,000 consumers who plan to buy a vehicle in the next 12 months.
Seventy percent of dealer survey respondents said online sales technologies improve transaction efficiency and customer satisfaction. The study found that 42 minutes are saved at the dealership by largely online shopping.
Of responding consumers, seven in 10 said online shopping steps increase their satisfaction with the buying process.
Cox also found that “high-performing” dealers provide more shopping steps online and are 53% more likely to use AI tools, though just 37% see AI as essential to the purchase process.
The company says integrating retailing tools will help further smooth the shopping process for consumers and dealers. And it doesn’t recommend offering consumers just one way to buy – in person or online.
“Today’s most successful dealers are rethinking the retail journey—creating seamless transitions between online and in-store, powered by automation, clean data, and personalization,” said President of Retail Solutions Lori Wittman.
“Opening all paths to purchase and connecting them is even more important in this rising cost environment we’re all facing.”
