4 Min Read • December 16, 2024
CDK Global Research Year in Review
Each year CDK produces an array of class-leading research to help dealers better understand their customers, their employees and the broader automotive retail industry. This leads to power insights that can help improve their business. Here are the white papers and e-books CDK published in 2024 to date with more being added before the end of the year.
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The automotive industry seemed to return to car business as usual in 2024 thanks to a number of inventory and financial factors and much to the relief of car shoppers everywhere. Read this year’s Friction Points Study, which surveyed 1,200+ car buyers, and get details on dealer strategies and improvements, why customer satisfaction continues to decline, and how much time shoppers are spending at the dealership and why. The next edition of Friction Points will be unveiled ahead of NADA in January 2025.
2024 CDK Dealership Workplace Study
Do you know why 1/3 of your dealership staff could be updating their LinkedIn profiles and preparing for job interviews elsewhere? In our inaugural Dealership Workplace Study, CDK asked 300 dealership employees for their opinions on everything from job satisfaction to compensation and benefits to why they left or are planning to leave auto retail now.
Drivers are trading in their gas cards for electric charging stations on the regular as more brands roll out electric options and charging perks. Plus, many EV drivers say they have no plans to park a gas car in their driveway again. So CDK surveyed 300 EV owners to understand exactly who’s bringing an EV home and why, as well as their charging habits, if they’re dealing with range anxiety, and what their service plans are for the next year.
Dealers Face the EV Transition
Covering shoppers and owners is one thing, but how does dealer leadership feel about EVs? CDK talked to dealers from every corner of the country whether they’re rural, suburban or urban to understand their perspective. They share how optimistic they are about the future, the impact on their bottom line and how fast they’re moving to fully support EV sales and service. Geography also played a role as attitudes found along the Pacific don’t mirror those around the Great Lakes or the Gulf Coast and this research uncovers where there may be more optimism than expected.
2024 Automotive Retail Industry Trend Report
Instead of worrying about vehicle inventory, one of the top hurdles dealers faced in recent years, these days dealers are concerned about supply chain issues and interest rates. We break down these trends and more in our Automotive Retail Trend Report (formerly the Trendsetter’s Report) where we query dealers about how they responded to volatile interest rates, year-over-year challenges and the impact on their operations plus how they plan to move forward in the coming year.
The Net Promoter Score (NPS) for dealership service rose significantly in 2024 and also for independent shops. These positive gains are noteworthy given that the service lane remains the top profit center for franchised car dealers. CDK surveyed over 2,000 customers who had car maintenance and repairs to uncover what they experienced and what they expect.
AI in Automotive: Insights and Innovations Survey 2024
The dealership’s relationship with AI has evolved since CDK started surveying North American executives and department heads in 2021. Our third annual report, AI in Automotive Insights and Innovations Survey 2024, indicates that AI is transforming every corner of the auto retail operations from Sales to Fixed Ops to Service. The study also looks at the growth of AI in the automotive industry, top challenges facing dealers, AI and Fixed Ops, dealership familiarity with AI, and why industry experts should be building dealership AI tools.
Anyone on the road today can see that EV adoption is well on its way. Yet, despite a variety of affordable EV makes and models available, shoppers are still opting for hybrids, plug-ins and gas cars over EVs. CDK surveyed over 1,100 car shoppers to find out why. This year’s report looks at EV shopper myths, charging and range comfort, what’s holding shoppers back from EVs, and dealer sentiment versus customer needs.
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