A new Cox Automotive survey of U.S. franchised auto dealers finds only 15% of respondents have integrated or embedded AI tools and processes at their stores. But that group is 50% more likely to report revenue growth, higher profitability and improved efficiency.

Dealership decision-makers and influencers who have created a “strategic plan” for AI are more likely to rate their current performance (1.2 times) and efficiency (1.4 times) as “strong.”

The findings, summarized in Cox’s newly released Dealer’s Guide to Driving Outcomes With AI, show 60% of dealers are “starting to explore” or “testing the [AI] waters” and 25% are in “wait and see” mode.

“The risk isn’t in trying AI; it’s in waiting too long and missing out on the competitive and financial
advantages that early adopters are already realizing. Even worse, latecomers risk losing shoppers
to competitors who have it figured out — only to realize it when it’s too late.”

Read the full report at Cox Automotive