Topic: dealer insights
2019 was a strong year for used car dealers in the US. The market was just ahead of 2018, with approximately a third (36.9%) of dealers reporting improvement year over year, and a smaller proportion (32.2%) finding conditions tougher. But if you polled a room of franchise and independent dealers how their year went, you’ll get a mixed response. 46% of franchise dealers reported improvements in their market over 2018, but only 32% of independent dealers agreed.
Built around a survey of nearly 1,000 independent and franchise car dealers and our annual Dealer Council meeting, the inaugural CarGurus One Voice Report examines topics set to be key to retailer performance in 2020.
2019 was a strong year for the US economy. There was record-low unemployment. Personal savings rates continued to climb. Small business optimism remained high. But 2019 was also full of economic challenges. Costs are rising faster than wages. 59% of Americans live paycheck to paycheck. Rumblings of a possible recession have ebbed and flowed this year. So what does this mean for car dealers in 2020?
At this year’s Navigate conference, George Augustaitis—CarGurus Director of Industry Analytics and Economics—shared the four key macroeconomic trends that will shape 2020 and what dealers should do to prepare. In this video, you’ll learn:
Disclaimer: This content is informational only and should not be taken as legal advice in regard to the California Consumer Privacy Act.
Data is at the core of any business, especially in the auto industry. It’s not uncommon for car dealers to collect sensitive customer info at numerous stages of the buying journey, from financing to warranty management. But most are not thinking about data security on a day-to-day basis. Data breaches are an unfortunate way of tech life—2018 was the second most active year for data breaches, with over 5 billion records exposed.
On January 1, the California Consumer Privacy Act (CCPA) will go into effect. At this year’s Navigate conference, Spurti Kanekar—Director and Corporate Counsel for CarGurus—presented a deep dive on the CCPA and what it means for car dealers across the U.S. Her talk was a highlight of Navigate and is a must-see for dealers in California and beyond as we sneak closer to 2020.
What goes into the car buying journey for the average auto shopper?
At a time when consumers are more indecisive than ever about key decisions, from what vehicle to purchase to which dealership to buy from, this question is crucial. The 2018 CarGurus Buyer Insight Report, released today, provides an answer. The report analyzes the digital purchase paths of more than 3,000 auto shoppers, giving an in-depth look at today’s complex car shopping process. Key findings include:
Last week, hundreds of automotive marketers from around the country joined us for CarGurus’ first-ever virtual Dealer Insights Summit. The event featured inspiring keynotes, an engaging dealer panel, and educational presentations focused not only on what’s happening in automotive now, but also what’s ahead. It was packed with actionable takeaways and powerful industry insights—here are some of the highlights: