On the Dash:
- CDK’s Ease of Purchase index remained stable at 89%, despite the surge in purchasing activity.
- In-stock availability rose to 48%, though many buyers still visited multiple dealerships or ordered from the factory.
- Financing improved, and 24% of customers completed purchases faster than expected.
The $7,500 federal tax credit for new electric vehicle purchases officially ended on Sept. 30 under the One Big Beautiful Bill Act (OBBBA). Despite the rush of customers into showrooms to take advantage of the savings, the buying experience remained strong. According to CDK Global’s Ease of Purchase index, 89% customers said that it was easy to purchase a vehicle in September. This score remains unchanged from August and aligns with the September 2024 results.
Recently, finding the desired vehicle at a dealership has become increasingly complex for customers. In September, in-stock vehicle availability improved to 48%, a three-point increase from August, although still below the ideal benchmark of 50%. Approximately 12% of buyers had to visit four or more dealerships to find the vehicle they were looking for. Another 23% had to order their vehicle from the factory, and only 8% were able to find an alternative in stock.
Despite the constrained availability, most customers (77%) reported it was easy to find the car they wanted, a three-percentage-point increase from August.
There were also notable improvements in the finance department, though the results were mixed. Most customers (70%) found it easy to apply for financing, a 6% increase from the previous month. Over half (58%) of customers found it easier to reach an agreement on the trade-in value, a 5% increase. However, agreeing on a final price became slightly more difficult, rising to 63% from 62%.
Surprisingly, the increase in dealership activity did not negatively impact the overall process time. Twenty-four percent of customers said the process took less time than expected, up five points from 19% in August.
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