Back to Category
Jan 10, 2021

Question of the Day: What's the average amount of time (in hours) a consumer spent shopping for a new car in 2019?

Answer: Almost 15 hours

Questions: 

  • What do you think your process will be? 
  • Where is the bulk of this time spent? Do you think so much people spend so much time on that step? 
  • Do you think it's important to know how much you can spend BEFORE you start this process? Why or why not?
  • Almost 5 hours was spent visiting dealerships in the last 2 steps of the process. How do you think COVID has changed the car buying process when it comes to dealerships? Do you think this will be a permanent change? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Image from COX 2020 Car Buyer Journey Study and a recent article about changes due to COVID):

After COVID-19, consumers can now buy cars online as they do almost everything else, with the ability to complete the entire transaction digitally and take delivery without ever setting foot in a showroom.

-------------------

Want to know what was the Best of 2020?...Here's our lists:

 

 

arrow left solidPREVIOUS POST

Reading List for January 8-10
NEXT POST: arrow right solid

MATH MONDAY: Return on Investment [Investing | Order of Operations]

Related Posts
Question of the Day thumbnail

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

author image More by Tim right solid arrow
Mail Icon

Subscribe to the blog

Join the more than 12,000 teachers who get the NGPF daily blog delivered to their inbox:

Back to Category