Customers and auto dealers continue to be miles apart in their perceptions of transparency in the car buying process, according to Capital One.
Only 21 percent of consumers called car shopping very or fully transparent, compared with 68 percent of dealership owners and staffers surveyed, the 2023 Capital One Car Buying Outlook study reported.
"For the right dealerships, this is a huge area of opportunity," Sanjiv Yajnik, president of financial services at Capital One, said at a Jan. 18 webinar discussing the study results.
Capital One called the perception gap between the groups similar to that a year earlier, when 26 percent of buyers and 77 percent of dealers called car buying significantly transparent.
"It's a very, very simple thing," Yajnik told Automotive News during the American Financial Services Vehicle Finance Conference on Jan. 26. "The customer lives in a different world than the dealer."
A customer visiting a site like Amazon…