The car buyer of the future
Challenging Outdated Assumptions: Debunking Key Industry Myths
The Car Buyer of the Future directly confronts several pervasive myths that continue to hinder progress in automotive retail:
Car ownership will become obsolete.
Despite the growth of different channels, the traditional 'sales funnel' still works.
Most consumers don't decide what car to buy until they get to the dealership.
Better online channels mean that consumers are already making fewer dealer visits
The dealer role will decline further as more consumers move to buy online.
Whether online or in-dealership, there will still be a need for a price negotiation to close the deal.'
Customer loyalty will protect traditional brands and their dealers from the new entrants.'
The Car Buyer of the Future: An Evolution, Not a Revolution
ICDP believes the car buyer of the future will be an evolution of current behaviours, not a radical revolution. This premise is founded on three key reasons: the inherently physical nature of a car purchase, the overwhelming consumer desire for omni-channel experiences, and the economic challenges limiting non-traditional mobility solutions as wholesale replacements for individual car ownership.
The report predicts that future car buyers will:
Be informed and empowered individuals
Expect seamless, intuitive, and personalised digital experiences
Need to balance quality, convenience, and cost
Seek personalised experiences
Expect evolving technology
The report serves as an urgent call to action for OEMs and dealers to embrace true omni-channel strategies, hyper-personalisation, and advanced technology to meet the demands of today's empowered car buyer.
“The automotive industry has a rich history of innovation in engineering and design; the next frontier is the innovation of the customer journey itself,” the report states. “Those who successfully navigate this transformation will not only meet the needs of the car buyer of the future but will also drive the future of automotive retail.”
The report is available to ICDP members to download here, or our other industry friends can request a copy by email through the Project Office projectoffice@icdp.net