Satisfaction Reaches a Record High for New-Car Buyers

New-vehicle buyers reported a record 75% satisfaction rate with the overall shopping experience, the highest in the CBJ study’s history. This is largely attributed by Cox to advancements in digital tools, pricing transparency and a balance between online and in-person dealership experiences. During 2024, improving sales incentives and a wider selection of new-vehicle inventory contributed to increased satisfaction as well. Notably, 42% of new-car buyers stated their experience was better than their prior purchase, with dealership satisfaction reaching a historic high of 81%.

Satisfaction among all vehicle buyers, however, declined slightly in 2024 compared to the prior year, pulled lower by a decline in satisfaction among used-vehicle buyers. Looking at satisfaction across the industry, among both new and used buyers, 67% were highly satisfied with the journey, down from 69% in the previous study.

The overall decline in 2024 was likely driven by several factors Cox said, including elevated auto loan rates, which hit a 20-year high in 2024. Used-vehicle inventory remained tight throughout 2024 as well, and used-vehicle buyers are less likely than new-car buyers to encounter improved digital tools that support that “seamless, efficient, omnichannel vehicle-buying process.”

Nonetheless, a 64% satisfaction rate among used-vehicle buyers was higher than at any time before the global COVID pandemic. Research suggests that many automobile dealers, both franchised and independent, invested in improved processes to deliver a more digital buying experience during the pandemic, resulting in changes that have boosted overall satisfaction with vehicle buying.