Car
Buyers
Report
H1 2019
KEY FINDINGS
AFFORDABILITY
Price is at the core of the whole car buying process. Buyers have a budget in mind but are as concerned about getting a good deal. How a car buyer perceives a seller or dealer has as much importance as the car itself.
TRust & Anxiety
Many car buyers mistrust the motor industry to start with and are anxious about the whole car buying process. Avoiding jargon, providing as much detail as possible and pricing to the market will all help to build trust with car buyers.
OPEn-MINDEDNESS
Buyers regularly change their minds about what they need and are open to influence from start to finish, even passive influence before they have decided upon changing their cars.
Planning ahead
Car buyers contemplate their next car for a very long time, except those forced into unplanned purchases. Car buyers relish reaching certain milestones but can be easily set back to a previous stage of the journey.
INFORMATION OVERLOAD
A significant proportion of car buyers grow weary and settle on a car that is 'good enough'. The wealth of information available contributes to a delay in committing. Reassurance is needed throughout that they are on the right path.
STAGE ONE CONTEMPLATION
All car buying begins with contemplation, though it's difficult to precisely say when this stage begins, as, regardless of how far away from purchasing a car the buyer is, they will sub-consciously be influenced by a wide variety of factors. The contemplation stage can take months according to our respondents, but in reality it could be going on for a lot longer than that.
Before actively looking for a new car, many are already
passively considering their options.
44% of those currently
on the buying journey
have spent
several months
in the contemplation stage
STAGE TWO TRIGGERS
Car buyers may be contemplating what car they'll get next for a very long time, forming opinions on what will suit them, but nothing will happen until something in their life triggers, moving them along the car buying path with more intention.
Triggers come in THREE categories
Unplanned
Planned necessity
Planned choice
STAGE THREE CONSIDERATION
Now, following a trigger, car buyers admit to themselves that they're on the path to getting their
next vehicle. It's time for them to enter the consideration phase, actively thinking about what
they want from a car, talking to people about it and spending more time online researching.
97% of buyers are open to recommendations during their journey
44% from
PEOPLE
THEY
KNOW
50% from buying
and selling
WEBSITES
STAGE FOUR PREFERENCES
Having considered their influences and options, car buyers move into the fourth stage of the journey and narrow down their preferences, trying their best to align them with the realities of their car needs.
At this stage, ADDITIONAL CARS will be considered
as car buyers refine their preferences.
94% of buyers changed
their mind about the
make
they were considering
85% of car buyers
changed the
budget they were willing to spend
at least once
Over 50% of buyers reconsidered
whether they wanted a
used or new
car at least once
STAGE FIVE DECISION
Following stage four, the car buyer should have a firm handle on what they want and
what they need, so it's time to start making decisions. For many, this is likely to be the
first time in the journey that they will actually sit in and drive potential future cars.
Buyers are still open to influence, therefore it is
important that they are given the best experience possible at this stage.
STAGE SIX DOING THE DEAL
Finally, the car buyer has decided on the one they want and it's time to make a deal.
It's possible that the buyer will change their mind at this stage, but more likely they will not.
However, making the experience a pleasurable one will reap rewards.
It can take quite a while to actually complete
the transaction ONCE DECIDED
TIME SPENT to actually buy the car
