AI Readiness in Automotive Retailing Study

This document is a research report that outlines the findings from the Cox Automotive AI Readiness in Automotive Retail Study. The study involved various phases, including focus groups, quantitative surveys, and in-depth interviews with automotive dealers to assess their readiness for AI adoption. It identifies key statistics regarding dealer perceptions of AI, including a significant belief in its potential benefits and the critical need for investment in AI for long-term success. The report details the stages of AI adoption among dealers, highlighting that most are still early in their journey. It also discusses the barriers to AI adoption, such as trust issues and concerns about accuracy. Furthermore, the report presents recommendations for dealerships to effectively integrate AI into their operations, emphasizing the importance of training, transparency, and a strategic roadmap for AI implementation. The findings suggest that those with a strategic plan for AI adoption tend to experience better business performance and efficiency.