Q2 2022 DealerPeak Peak Insight Report Points to Continuing Strength of Showroom Conversion Rates as Inventory Remains Low
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Q2 2022 DealerPeak Peak Insight Report Points to Continuing Strength of Showroom Conversion Rates as Inventory Remains Low

DealerPeak, the only CRM dedicated to making the industry regain their love of selling cars, announced today findings from their Q2 2022 Peak Insight Report. The quarterly report aims to reveal the top converting lead sources and partners as detailed through DealerPeak’s proprietary backend data.

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After an analysis of thousands of CRM transactions running through our system in the second quarter of 2022, the trends pointed to third party leads continuing to be the top lead source for conversion, but showroom floors as the place those leads actually convert. 

Some of the insights contained within the report include: 

· Third parties continue to be the top lead provider at 67.8%, compared to the next highest source, phones, at 14.6%.

· However, while third parties created the most leads, showroom floors continued to be the top converter at 34.5%.

· The highest converting digital retail provider for the quarter was AutoFi, followed closely by Gubagoo. 

“It’s no secret that Q2 2022 was fraught with recession fears, record levels of inflation, and a hawkish fed policy with rapidly increasing interest rates. Inventory remained tight for dealerships, continuing to hold car values high,” said Matt Moore, CEO of DealerPeak, in his letter accompanying the findings. “However, we saw used car values lower slightly compared to recent quarters. While inventory has remained tight, demand for cars has also decreased – easing some of the pain many dealers have felt from not having enough inventory to meet demand.” 

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DealerPeak’s best-in-class, enterprise-wide solutions automate the hard work of relationship building through real-time updates, customized workflows, desking solutions, and more. The aim is to bring joy back into the process, while helping each dealership contribute to a healthy bottom line. 

If you’d like to read more trends as discovered in our Q2 2022 Peak Insight Report, or to download past reports, please visit: https://www.dealerpeak.com/peak-insights-report/.

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