New research from Cox Automotive, developed in consultation with NIADA, offers a detailed look at the buyers walking onto independent lots—and the picture is one of necessity rather than aspiration. The study, “Know Your Buyer, Grow Your Lot,” draws on responses from 384 consumers who purchased from an independent dealership between September 2024 and August 2025.
The findings point to a customer under real financial pressure. Seventy-nine percent of buyers say they need a vehicle rather than want one, and among those purchasing vehicles 11 to 20 years old, 77 percent report household incomes below $75,000. These shoppers are also doing their homework: buyers spend an average of 16.5 hours researching online, visit more than five websites, and 77 percent rely on third-party listing sites before ever contacting a dealer.
The research identifies trust—not price alone—as a leading barrier to conversion and repeat business. Only 21 percent of buyers say they would return to the same dealership, with dissatisfaction often tied to unclear financing terms, unexpected fees, or inconsistent communication. Among the operational priorities the study highlights are transparent pricing, upfront vehicle history, and faster, simpler digital experiences.
For independent dealers, the data frames the modern buyer journey as one largely shaped before the first conversation ever takes place.
To download the eBook, visit https://b2b.autotrader.com/growyourlot/.
