Carsales has today released an in-depth study into the shifting habits of Aussie car buyers, and what lies ahead for researching and purchasing new vehicles.
The online marketplace teamed with consumer research specialists, Ipsos, to revisit its ‘The Journey to Vehicle Ownership’ studies from 2013 and 2017, and compare results with those recorded since, particularly during the past year’s unprecedented business conditions.
The study found:
- The car buyer of 2021 is more informed, more confident and has done their research before arriving at the dealership.
- The journey has extended from 2.7mths in 2017, to 7mths in 2021 (including the phase where they take ownership of the car), with more touchpoints to help them visualise life with the car; · Finance and Insurance are considered earlier in the journey than 2017.
- Openness to the concept of purchasing a vehicle entirely online has significantly increased from 57 per cent of respondents in 2017, to 73 per cent in 2021.
- Likelihood to purchase an Electric Vehicle saw a significant increase in 2021 as buyers became more familiar with technology and availability increases.
Carsales General Manager, Customer Advocacy & Research, Deb Heaphy, said: “With 800 respondents from across Australia, this study truly reflects the Aussie car buyer. Since the first edition of this research was conducted in 2013, we’ve witnessed the shifting influences on the car buying decision-making process.
“Now in 2021, with marked changes in the automotive landscape and buying habits in general, we see a more confident and informed car buyer who has done their research and is ready to get into their new car.”
Carsales Managing Director – Australia, Ajay Bhatia added: “If consumers are provided with the tools and services to further enhance their car-buying journey, the future of the digital age will continue to evolve.
“With a further willingness of consumers to buy online, demand for a full digital retail experience is growing. Online buying and selling will increase into the future and we are leading the charge and changing the game with services such as Instant Offer and carsales SELECT.
“As Aussies look for convenient ways to sell their cars in as little as 24 hours, carsales has seen triple digit growth in cars sold through its Instant Offer service in 2021 alone.
Bhatia also commented on the recent proliferation of electronic vehicles (EV), with the new study having found a significant increase in the likelihood of respondents purchasing an EV, from 26 per cent in 2017 to 42 per cent in 2021.
“As consumers become more curious about EVs and the role they could potentially play in their lives, we have a responsibility to give consumers the information they need and that’s exactly what our hub aims to do with new electric cars for sale, EV advice and buying guides, and independent reviews,” added Bhatia.
Ipsos and carsales will present the auto industry with these latest findings in a series of upcoming events. The study will also assist the carsales in shaping and updating their future customer offerings.
