25 Amazing Statistics on How Consumers Shop for Cars

By Larisa Bedgood

Sources used to shop

1. Car buyers spend 59% of their time online researching. (Autotrader)

2. When researching online, 46% of car shoppers use multiple devices. (Autotrader)

3. Most car buyers are undecided at the start of the shopping process. When they first begin to shop, 6 out of 10 them are open to considering multiple vehicle options. (Autotrader)

4. Third-party sites are the most used sites for car shopping, used by 78% of shoppers. (Autotrader)

5. Walking in remains the common form of initial contact with a dealership by more than half of car shoppers. (Autotrader)

Initial contact with dealership

6. The top five activities conducted online by car shoppers include researching car prices (71%), finding actual cars listed for sale (68%), comparing different models (64%), finding out what current car is worth (63%), and locating a dealer or getting dealer info (46%). (Autotrader)

7. When asked to rate their satisfaction on a scale of 1-10, 81% of car buyers gave the test-driving process an 8-10 rating. However, satisfaction declined to 67% when interactions with the F&I department were factored in. Of the 3-hours average time spent at the dealer during the purchase process, more than half of that time is spent negotiating or doing paperwork, resulting in a 56% satisfaction rate for the process. (Autotrader)

Satisfaction with purchase process

8. Among automotive internet shoppers, 22% use a social media site as a source while shopping for their new vehicle, up from 16% in 2015. The most popular social media sites used by auto internet shoppers during the shopping process are YouTube (13%), DealerRater (7%) and Facebook (5%). (D. Power 2016 New Autoshopper Study)

9. Among automotive internet shoppers who use social media, only 13% indicate that the information posted on social media sites influenced their purchase decision, and only 2% say a social site was the “most useful site” they visited. (D. Power 2016 New Autoshopper Study)

10. Slightly more than one-third (34%) of new-vehicle buyers using social media for automotive information post a picture of their new vehicle on a social site. Facebook is by far the most posted site at 88%, followed by Instagram at 21%. (D. Power 2016 New Autoshopper Study)

11. Smartphones Surpass Tablets for Automotive Research: More than half (53%) of automotive internet shoppers use a mobile device in their quest for automotive information. For 2016, smartphone usage surpasses tablet usage (37% vs. 33%, respectively). The use of desktop or laptop computers remains most common at 92%, but has been steadily decreasing from 99% in 2012. Consequently, the proportion of time spent shopping on mobile devices continues to increase, with 33% of the total shopping time now conducted on a mobile device. (D. Power 2016 New Autoshopper Study)

12. When looking to buy, Millennials consider slightly more vehicles on average than Baby Boomers. Millennials also usually take longer to decide what car to buy than Baby Boomers, an average of 16.9 vs 15.7 weeks. Millennials invest Go to the full article.

Source:: Business 2 Community

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