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Be in the Know: Current New Car Buying Trends

Posted on: July 18th, 2012 by credit

It is important for dealers to understand how car shoppers think and behave when they buy a new car. Understanding current consumer behavior trends in the automotive industry is one important element in causing your dealership to prosper. Through studies and research findings, you would know how you could more effectively capture new car leads despite frequent shifts in car shoppers’ behavior. Consider the following findings from a few researches.

Kelley Blue Book (KBB) asked their visitors through a poll about their thoughts on different aspects of buying a new car. Here’s what they found:

  • Nearly 60% of Americans do not like haggling the price when buying a new car.
  • 67% of the respondents said that they are more likely to test drive a vehicle if they will not be required to do it with a salesperson. They prefer doing the test drive alone.
  • Car manufacturers usually come all-out in their end-of year clearance promotions. However, KBB’s poll results showed that majority (60%) said that end-of-year clearance promotions do not affect their car buying decision.
  • The poll results showed that most (42%) of the respondents will never buy a car online. This is despite what other recent surveys showed that most car buyers now turn to the Internet, and even access it through their phones, to shop for cars.
  • Most of the respondents defined vehicle quality as a vehicle with a long life span that is able to withstand “wear and tear.”
  • Despite the new technology set up in new vehicles now, majority (29%) said that they do not need any hi-tech features in the new car they are going to buy.

Meanwhile, Ad-ology also found interesting and significant facts from their 2012 Auto Shoppers Forecast. The study found that 36% of U.S. Consumers plan to buy a new car in the next 12 months. Comparing that to last year’s result, it shows a 64% increment. Moreover, the study also found factors that affect or influence the car purchase process.

  • Websites of auto makers and dealers appeared to be as influential as the dealer’s sales people in a car shopper’s car buying decision.
  • The dealership’s service department ranked 4th most important factor that car shoppers consider in choosing a dealership. At the top of dealership’s service department are willingness to negotiate, dealership reputation, and selection of vehicle available.
  • Automotive advertising was found to be more influential than the prospective buyer’s friends or parents.
  • More than half of the respondents said that television advertising caused them to take action than newspaper and Internet banner ads which ranked only 2nd and 3rd, respectively.

These findings, and others as you do more research, can greatly help you in creating more efficient strategies in generating and converting more new car leads into sales.

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