Toronto, Ontario – Satisfaction among car buyers is at a record high, according to Cox Automotive’s newly released 2024 Car Buyer Journey Study, wherein the company reports a 75 percent satisfaction rate among new car buyers.
The study’s data was acquired between August 14 to September 15, 2024 and featured responses from 2,310 total buyers; or, 1,552 new buyers and 758 used buyers.
When looking at the study’s data more specifically, key takeaways include overall satisfaction with vehicle buying in total. Notably, new car buyers reported dealership satisfaction, reaching a historic high of 81 percent.
Comparatively, the study also notes that the new vehicle buying process took more than 13-and-a-half hours in 2024, with more time spent in the research and discovery phase than before.
Finally, when looking at electric vehicle trends, the study concludes that satisfaction among new EV buyers exceeded hybrid and traditional internal combustion engine (ICE) buyers in 2024.
For Cox Automotive, this trend is due to EV buyers tending to be more engaged online and embracing an omnichannel approach to buying.
To see the full study, click here: 2024-Car-Buyer-Journey-Study-Research-Summary
