With more incentives likely to be offered from 2021 and beyond on low-cost green cars like Daihatsu Sigra, more purchases will definitely be witnessed. Especially now interactions are minimal and families are seeking family cars the search for fuel-efficient MPVs is more than before.
This has led to an increase in purchases of new cars by 4.8% YOY and used cars by 9.7% YOY according to Cars.com. Besides searching for specific car models, shoppers are looking for specific features as shown below:
- Tow Hitch: up 55.4%
- Cooled seats: up 36.3%
- Heated steering wheel: up 34.0%
- Apple CarPlay/Android Auto: up 24.3%
- Rear cross-traffic alert: up 116.5
Even though there most car enthusiasts are addicted to certain models, first car buyers are more inclined to the features incorporated in the car. Car usage and road conditions are other factors influencing the choice of car to buy. According to research by Autotrader.com, 72% of young millennials’ use cars as an important component of their social life. Advanced technological and infotainment features have become a must-have to them.
Walking to car dealers and making enquiries about car features is not only time wastage but tedious. There is almost every kind of information on any car model or variant online. And at a time when everyone should observe social distancing, car shoppers have no alternative but to rely on online statistics and other information. With most online car purchases today influenced by online research, more and more information is made available by car experts, dealers and auto manufacturers.
Here are the 5 crucial car sales statistics shoppers should know:
1. Even though the demand for hybrid and EV vehicles had gone down due to the pandemic, the demand is estimated to grow by a higher margin. Tesla the market leader in the sale of hybrid and EV cars expects deliveries to grow by approximately 50%. This means more shoppers are going for greener and fuel-efficient vehicles.2
2. According to Deloitte, battery electric vehicles (BEVs) shall have a market share of 81% of the new EVs sold by 2030. This is despite the fact that EVs are also expected to witness an annual growth rate of 29% for the next 10 years.
3. More shoppers are turning to online purchasing. If the words of Paul Hennessy, CEO of Vroom are to be taken seriously, every car buyer should shift to digital purchases.
In his statement, customers love the idea of having 15,000 cars in their pocket as opposed to moving from one dealership to another. ThinkWithGoogle estimates 92% of auto shoppers do conduct online research before making their choice.
4. Brandwatch estimates 30% of new car buyers to incline more to the quality of the car as opposed to 21% who considers affordability. Technology and features may blow all the other factors out of the water in the near future if every manufacturer takes the Hyundai, Tesla and Nissan route.
5. Shoppers looking to buy cars are searching for both new and used cars in equal measures- but used cars are seeing slightly high growth in sales compared to new cars.