In a healthy automotive market, new car buyers are more inclined to purchase vehicles out of want then need, says AutoTrader.com. Its 2015 Automotive Buyer Influence Study found that to be the case for 61 per cent of the 2,300 new and used car buyers surveyed.
“When consumers start to make big purchases out of desire rather than necessity, they are clearly showing more confidence about their personal financial situations,” said Jared Rowe, president of Autotrader.com.
The study also looked into the shopping process, with the majority of new car buyers researching their vehicles first and then setting their budgets. According to the study, new car buyers are spending around 16.9 hours in total on car shopping, dedicating 70 per cent of that time spent online.
More than half of those surveyed said they use dealer websites to do their research. Of the research tools available, including third party websites, OEM sites, dealer sites and social media, only 19 per cent of the buyers rated dealer sites as the most useful.
By the time buyers visit a dealership, 77 per cent of them purchase the vehicle they have in mind.
“The key to reaching and influencing those shoppers is to get the right message in front of them at the right time and in the right places,” said Rowe.
