NEW YORK - Total Dealer Compliance (TDC), a car dealership compliance-auditing firm, today announced key findings from its latest auto dealership survey conducted online in July among 200 U.S. adults age 18+. Upon examining the survey results, nearly 65% of consumers said they believe that US car dealerships’ business practices are not ethical. While over 50% of consumers are more likely to shop at a dealership if their code of ethics were clearly displayed when shopping.
“A code of ethics is designed to reinforce a dealers' personal commitment to quality service and high ethical standards,” said Max Zanan, President of TDC. “Our survey confirmed that the trust between the consumer and car dealer is well and truly broken. Ensuring a code of ethics is on display will be the first step in rebuilding the consumer’s trust, where compliance is of top priority.”
Highlights from the consumer survey include:
Nearly 65% of consumers believe that US car dealerships’ business practices are not ethical
Over 50% of consumers are more likely to shop at a dealership if their code of ethics were clearly displayed
40% of consumers said that it would not make a difference if a dealership’s code of ethics was clearly displayed upon purchasing
With 40% of consumers admitting that it would not make a difference if a dealership’s code of ethics was clearly displayed upon purchasing, the survey highlighted one common theme which is overall consumer fatigue towards car dealerships’ sales processes.
“Car dealers have a lot of work to do when it comes to changing the public’s perception. While ethics and compliance go hand in hand, car dealers should execute regular audits, provide online courses to employees and conduct their business ethically,” said Zanan. “TDC’s survey further highlights the need for a strong compliance training program that will proactively mitigate risks while helping dealerships to build a positive reputation.”
