A new report by software provider Foureyes revealed that car dealerships are losing sales—not because they don’t have leads—but because they’re not handled properly.
The details: The findings—detailed in the company’s seventh annual Automotive Dealer Industry Benchmarks Report—indicate that almost half of dealers poorly managed the leads generated through their sites last year.
43.2% of dealers’ website leads were mishandled, including 47.7% of website calls, 42.2% of forms, and 35.5% of chats.
And 14.1% of those website leads were never even logged to dealer CRMs.
Worth noting: Foureyes’ Automotive Dealer Industry Benchmarks Report was drawn from 1.1 billion dealer website visits, 30 million unique pieces of inventory, and 22,500 automotive dealership websites, including group sites.
Why it matters: Phone calls continue to generate the most leads. However, with more consumers turning to digital platforms when considering new and used vehicle purchases, dealer websites continue to grow as a major lead source.
Between the lines: The biggest issue is timing. When a customer revisits a dealer’s website, that’s often the moment they’re ready to buy. But Foureyes found that most dealers (65%) didn’t respond within 24 hours—and many took days (sometimes more than a week).
Big picture: When buyers are ready—dealers need to be, too.
Become an automotive insider in just 5 minutes.
Get the weekly email that delivers transparent insights into the car market.
Join 90,000+ others now, it's free:
Want insider knowledge on the most up to date trends in auto retail?
The Haig Report® is auto retail's longest-published and most-trusted quarterly report tracking trends and their impact on dealership values. Since 2014, this report has delivered analysis on dealership performance, market trends, and franchise valuations—offering a clear view of opportunities and challenges in automotive retail.
Join the leaders in the industry who rely on the Haig Report® for:
Exclusive insights into dealership values and valuation trends
Franchise insights and outlooks on brand desirability
Market trends to help you make informed business decisions
The only report to publish blue sky values every quarter.
Subscribe to receive auto retail's longest published and most trusted report tracking trends and impact on dealership values.
