It goes without saying that the automotive market has changed significantly over the past 12-24 months. For the second year in a row, CarGurus analysed the path to purchase of more than 1,500 car buyers to offer an in-depth look at how today’s consumer journey is more complex than ever before in our CarGurus 2022 Buyer Insight Report.
Key findings include:
Buyers are uncertain and brand-open at the start of their search
- Most car buyers feel they need to stay open-minded in today’s challenging buying environment and are prone to switching behaviors. 68% of buyers switch make and 87% switch model during the car-buying journey.
Auto-shopping sites and social media platforms are the leading online resources
- Since buyers are more open-minded, they rely on digital channels more than ever to narrow down their options. 95% of car buyers report using at least one listings site while shopping for a car. Just shy of a quarter of buyers (21%) say that social media directly informed their car purchase, which is up from 16% a year ago.
Buyers are increasingly turning to mobile devices
- People have become more tech-savvy during the pandemic. As a result, more now use their mobile phones while on the forecourt. 71% of buyers use mobile devices to research in-store, which is up 17% since 2020. Top activities include checking vehicle specs, shopping other sellers, and reading car and dealer reviews for last-minute reassurance.
Interest in digital retail has accelerated due to the pandemic
- 61% of buyers say they would prefer to do more of the car-buying process from home for their next purchase. For now, the test drive remains the biggest deterrent to a completely digital purchase.
The insights in this year’s report underscore the value of leveraging an omnichannel marketing approach that caters to changing buyer preferences and unlocks the power of your digital retail offerings. For more information, download the full CarGurus 2022 Buyer Insight Report.