Car Business: More customers are shopping online for vehicles - News Report

29/March/2021

About 30% of U.S. new car sales last year were completed online, according to Alan Haig, an automotive retail consultant and president of Haig Partners.

However, before the pandemic, less than 2% of vehicles were purchased digitally.

The retail experience was "ripe for change" but dealerships are not going away, according to Michelle Krebs, an executive analyst at Cox Automotive.

According to the National Automobile Dealers Association, there were 16,623 franchised new vehicle dealerships at the end of 2020, and more than 1.1 million workers are employed in the sector.

Buyer satisfaction reached an all-time high in 2020. The overall car shopping experience took less time and was more efficient, according to a recent Cox Automotive study.

Online car retailers like Carvana and Vroom have seen big jumps in sales in the past year. Carvana sold 244,111 cars in 2020, up 37% versus 2019, and the company is investing $500 million in new facilities and hiring thousands of new employees, a spokesperson told ABC News...abcnews.go.com