Navigating Inventory Challenges: CDK Global Insights on Car Buying Experience in October

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Navigating Inventory Challenges: CDK Global Insights on Car Buying Experience in October

Inventory Impact on Ease of Purchase

In October, CDK Global observed a notable decrease in the Ease of Purchase score, with only 87% of car buyers finding the process easy. This decline from the previous months suggests that disruptions in inventory, such as stop sales, model year turnovers, and natural disasters, have affected the car buying experience. Despite the drop, the current score is still higher than the same period last year, indicating ongoing challenges for franchised car dealers.

Challenges in Finding Desired Vehicles

One significant impact of inventory disruptions was the decrease in the number of buyers who were able to find the vehicle they wanted in stock. This percentage fell to 49% in October from 54% in September, leading to difficulties in test driving as well. While more buyers resorted to buying their cars in transit or ordering from the factory, the overall ease of the process remained consistent at 76%.

Extended Purchase Timeline and Customer Concerns

The data also revealed that shoppers experienced longer-than-expected purchase timelines in October, with 32% indicating delays compared to 25% in September. Some buyers expressed challenges with the finalization process, citing an overwhelming number of choices and excessive paperwork. Moreover, the completion of necessary forms saw a slight decrease in perceived ease.

Outlook for the Fourth Quarter

As the fourth quarter progresses, CDK Global anticipates further challenges in the Ease of Purchase metric if inventory issues persist. The industry may face continued declines unless inventory smooths out to ensure a strong finish to the year. Addressing these inventory-related hurdles is crucial for enhancing the car buying experience and maintaining customer satisfaction.

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