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New CarGurus Buyer Insight Report shows significant consumer trends

Posted by Beth Burke on February 9, 2021

What goes into the path to purchase for the average car buyer? What happens when a global pandemic disrupts the auto industry?

At a time when dealers must adapt and evolve their marketing and selling processes in order to succeed, these questions are crucial. The inaugural CarGurus 2021 Buyer Insight Report for the United Kingdom, released today, aims to provide the answers. The report analyses the digital purchase paths of more than 1,500 buyers in the UK to give an in-depth look at today’s complex buying journey. Key findings include:

  • Car buyers start the process full of uncertainty. Most (72%) are undecided on where to buy at the beginning, and more than half are undecided on make (53%) and model (57%).
  • Despite their initial uncertainty, buyers narrow their consideration set significantly before taking action. On auto shopping sites, 86% wait to submit a lead until they are at least somewhat certain the vehicle is a good fit, and about half (45%) wait until they’re very/extremely certain. This is higher among CarGurus users in particular (59%) compared to competitor site users (50%).
  • Due to the pandemic, many buyers are considering purchasing a car online for the first time. Before Covid, 42% said they were open to buying online. Now, 63% are.
  • Car ownership is here to stay. While the way people buy cars may change in the next decade, nearly all (93%) plan to maintain or increase the number of vehicles in their household.

 

These valuable insights can be used to better target and reach low-funnel buyers and, ultimately, help you sell more cars. To learn more about today’s digital car buyers, download the CarGurus 2021 Buyer Insight Report.