CarGurus’ inaugural One Voice Report, released today, brings together the opinions of more than 400 influential UK dealers on hot topics affecting the used car market. It touches on rising overheads, increased competition, government issues, and more, and provides valuable insights into how digital is helping dealers adapt to today’s changing market. Key findings include:
- Over 80% of dealers found sourcing stock to be more difficult in 2018—and the majority were unsure how stock availability will play out in 2019
- Over 70% of dealers have adopted digital practices for financing, trade-in evaluations, marketing, and more to improve performance
- As opportunities for online financing continue to grow, dealers predict online finance completion to be at or near 100% saturation by the end of the year
- SEM and video are gaining ground with dealers, with roughly 40% increasing these tactics in their marketing mix
- With fuel policies in flux, 68% of dealers have adjusted their stock to reduce their reliance on diesels
In the report, it’s clear that forward-thinking dealers are both resilient to the challenges—many of which are not necessarily new—and keen to embrace change and move closer to consumer buying habits.
To learn more about business pressures in the industry and the role digital plays in helping dealers counteract them, download the full CarGurus One Voice Report.