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Americans Rethinking How They Buy CarsBack

Laptop2A new study shows car buyers around the world, including in the U.S., are changing how they buy new cars and trucks. Multiple visits to a series of auto dealers are out, while the trend of consumers doing more advanced research ahead of buying a car is in. “This is the most dramatic change we’ve seen in the auto industry and how people buy cars in the last fifty years,” said Hans-Werner Kaas, McKinsey’s senior partner. Kaas and his team conducted their study by looking at consumer auto buying patterns at dealerships around the world. The conclusion: car buyers are doing more of their own leg work on-line and spending less time at auto dealerships. The McKinsey report says the average buyer visits just 1.6 auto dealerships while car shopping, down from ten years ago when buyers visited an average of five dealerships. “The consumer now has more information on-line and through other sources, so they do not need to visit as many dealers,” said Kaas.

Source: CNBC

Posted by Sue Robinson on 07/03/2014