Covid kickstarts car buying
New research has found that Covid-19 might have prompted thousands of car sales in 2020.
According to a new study by CarGurus, nearly a quarter of buyers who bought a car this year were not actually planning to purchase a car before the pandemic.
While overall car sales have suffered this year, the research suggests that many of the 6.5 million new and used car sales this year may not have been planned before March. This is attributed to a shift in buying habits and perception of public transport and ridesharing services.
More than a third (36%) of ridesharing users and four in 10 public transport users say they expect to decrease or stop using these services, suggesting that many will need to turn to cars as a more COVID-secure way to get around.
In fact, among those who did buy during the pandemic, nearly half said they had an immediate need (44%) while the desire to have a vehicle for personal travel, leisure, hobbies, or projects was another top motivator (32%).
Further, a growing openness to online buying journeys may have supported the thousands of car sales, with many actually preferring online price negotiation (56%) and online financing (35%).
Madison Gross, director of Customer Insights at CarGurus, said: “With the challenges of 2020, it’s natural that we are seeing a change in behaviour among consumers, not only in their approach to buying, but also in their perception of public transport and ridesharing services, which can clearly fuel a demand.
“What is really encouraging is that the automotive industry is getting more agile in its response to these changes. New facilities including contactless services and online buying journeys, which clearly resonate with consumers, are being championed by retailers across the UK, and hopefully this continues well into 2021 and beyond.”
