A new segment of buyers has been uncovered, which research suggests have a higher preference for cars over SUVs.

Representing more than one-in-ten new buyers in the automotive market, this new group consists of younger individuals with a higher income, who are highly influenced by online resources.

With a greater interest in cars (53 percent) than SUVs (30 percent), the segment shows a clear disparity compared to the typical automotive buyer (41 percent and 45 percent).

The report, titled Connect with the New Digital Car Buyer, was commissioned by Autotrader and Gumtree Cars, and was undertaken by BrandSpark, to identify trends within the automotive industry.

The report identifies that two-thirds of buyers say their purchase is encouraged by an online showroom that provides transparent details such as fuel consumption and safety reviews.

“Over the last 12 months, the automotive industry has faced the decline of new car sales and a change in credit conditions which has caused the need to pivot business strategies,” Autotrader and Gumtree Cars dealer sales director Richard Dicello says.

“While customers transitioning to an online environment is nothing new, the increased adoption rate and demand for dealerships to meet them online has caused the industry to take note.”

With one-in-two buyers beginning their search on vehicle marketplaces and automotive review sites, the need is highlighted for dealerships to utilise every channel at their disposal to ensure maximum exposure.

Source: Auto Talk | Research reveals younger buyers prefer cars not SUVs

13 November 2020