2024 Car Buyer Journey Study Findings

The 2024 Car Buyer Journey Study by Cox Automotive is a report that reveals significant insights into buyer satisfaction among new and electric vehicle (EV) purchasers. The study indicates a record high satisfaction rate of 75% among new-vehicle buyers, with dealership satisfaction reaching 81%. The report highlights the impact of digital tools and an omnichannel buying experience on customer satisfaction. Notably, EV buyers reported even higher satisfaction levels, with 82% expressing they were highly satisfied with their shopping experience. The study also discusses the efficiency gained through digital tools, which saved buyers an average of 42 minutes at the dealership. Despite a slight decline in satisfaction among used-vehicle buyers, the overall satisfaction rate remains higher than pre-pandemic levels. The methodology includes surveys from over 2,300 consumers who purchased vehicles within a year, providing a comprehensive view of the current automotive market dynamics and buyer preferences.