New Cox Automotive Research Reveals Independent Dealership Buyers Are Driven by Necessity--Not Aspiration

Research developed in consultation with NIADA highlights how trust, transparency and digital experience increasingly shape independent dealer success

ATLANTA, June 22, 2026 /PRNewswire/ -- Cox Automotive today released new research, "Know Your Buyer, Grow Your Lot," developed in consultation with the National Independent Automobile Dealers Association (NIADA), examining the realities shaping today's independent dealership buyers and the operational strategies dealers can implement to improve conversion, trust and long-term loyalty.

Independent buyer research from Cox Automotive reveals that independent dealer buyers are fundamentally different from traditional retail auto shoppers. Rather than shopping based off wants, most buyers are navigating financial pressure, urgent transportation needs and constrained credit situations—factors that influence every stage of the purchase journey.

"Independent dealers are serving a customer who is often under real pressure and making one of the most important financial decisions they can afford," said Elizabeth Stegall, senior director, client retention. "This research shows that success today is not simply about having the right inventory—it's about creating a buying experience rooted in speed, transparency and trust."

Key findings from the research include:

• 79% of buyers say they need a vehicle rather than want one
• 77% of buyers purchasing 11 to 20-year-old vehicles earn an under $75,000 household income
• Buyers spend an average of 16.5 hours researching vehicles online
• 77% use third-party listing sites during their search
• Only 21% say they would return to the same dealership for their next purchase

The research found that the customer journey is increasingly shaped before a buyer ever contacts a dealership, with shoppers visiting more than five websites, and 83% begin shopping without knowing exactly which vehicle they want. The findings underscore how dealership listings, responsiveness and digital merchandising play a critical role in shaping buyer trust early in the process.

"The digital experience has become one of the most important competitive differentiators for independent dealers," said Stegall. "Dealers that prioritize accurate listings, transparent pricing, fast response times and clear financing information are far more likely to earn trust before a customer ever steps onto the lot."

The research outlines several operational priorities for dealers, including:

• Simplifying and accelerating the buying process
• Increasing pricing and financing transparency
• Investing in stronger digital merchandising and responsiveness
• Creating financing pathways that reflect buyer realities
• Strengthening post-sale communication to improve loyalty and referrals

The research found that trust—not price alone—has become one of the largest barriers to both conversion and long-term loyalty. While many buyers report satisfaction with the final purchase price, fewer say they trust they received the best deal, with dissatisfaction often tied to unclear financing terms, unexpected fees, or inconsistent communication.

To address these concerns, the research recommends dealers prioritize transparent pricing, upfront vehicle history information, simplified financing communication and a more straightforward purchase process designed to reduce friction and uncertainty for buyers.

"Know Your Buyer, Grow Your Lot" was developed in consultation with NIADA and is based on responses from 384 used-vehicle buyers who purchased from an independent dealership between September 2024 and August 2025.

To download the eBook, visit www.b2b.autotrader.com/growyourlot.

About Cox Automotive
Cox Automotive is the world's largest automotive services and technology provider. Fueled by the largest breadth of first- and third-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, auto manufacturers, dealers, lenders and fleets. The company has 29,000+ employees on five continents and a portfolio of industry-leading brands that include Autotrader®, Kelley Blue Book®, Manheim®, vAuto®, Dealertrack®, NextGear Capital™, CentralDispatch® and Cox Fleet®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately owned, Atlanta-based company with $23 billion in annual revenue. Cox Automotive has been included on Glassdoor's Best Companies in Tech & AI 2026 and Best Place to Work in 2026 lists. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook or Cox-Automotive-Inc on LinkedIn.

About NIADA
NIADA is a dealer-driven nonprofit association representing more than 13,000 independent auto dealers throughout the nation. For more than 75 years, NIADA has engineered programs and leveraged technology to fulfill its mission to advance, educate and promote the independent used car dealer. Along with its many education programs, including 20 Groups, it lobbies for the industry in Washington, D.C., and at the state level. For information about NIADA programs and educational opportunities, visit www.niada.com.

SOURCE Cox Automotive