car buying statistics

Released Jan 1, 2020

There are several intriguing vehicle acquiring stats to evaluate as 2019 concerns shut. Allow’s have a look at the current automobile sales fads as well as failure vehicle customer demographics for the previous year.

Tabulation

Cars And Truck Sales Stats for 2019

In 2018 we saw the sale of automobile going down, however in 2019 there’s been a resurgence with several customers thinking about 4-door cars as their following lorry. Nonetheless, the leading 3 offering cars for 2019 were all SUVs. Although recognition is high for crossbreed as well as electrical cars, a bulk of customers still choose a typical gas/diesel lorry. Car connection is coming to be an extra common function however there is a personal privacy issue from the majority of customers.

  1. These were the very popular cars in 2019 (GoodCarBadCar): 2019 10 Best Selling Vehicles
  2. Total lorry sales have actually gotten on a decrease over the previous couple of years. 7.2 million in 2018, 16.8 million in 2019, as well as predicted for 16.5 million in2020 (Cox)
  3. Made use of lorry sales had to do with the exact same over the previous couple of years. 39.5 million 2018, 39.5 million in 2019, as well as predicted for 39.2 million in2020 (Cox)
  4. 54% of customers would certainly think about a 4-door car as their following lorry. (ThinkNow)47% of car buyers find Internet connectivity beneficial
  5. 71% of Americans still choose gas/diesel (ICE) for their following lorry. (Deloitte)
  6. 47% of Americans assume lorry connection is valuable. (Deloitte)

Cars And Truck Purchasing Customer Routines as well as Fads

The total buying experience has actually a little boosted as well as come to be a lot more effective, however there still might be a great deal of enhancement in the last acquisition procedure. Numerous vehicle customers hung out thinking about as well as investigating made use of automobiles this year also. Infant Boomers are the least most likely to acquire or rent an automobile within the following 12 months. Amongst the hefty need for SUVs in 2019, midsize SUVs were one of the most prominent.

  1. 30% of customers prepare to acquire or rent within the following 12 months. Of those that prepare to acquire within the following 12 months, 35% were in between 18-34 39% of those that do not intend on acquiring in the future were in between 55-64 30% of car buyers plan to purchase or lease within 12 months( ThinkNow)
  2. 79% of customers on the market for a brand-new lorry intend on acquiring, while 12% strategy to rent. (ThinkNow)
  3. Customers are leaning a lot more in the direction of made use of cars for their following acquisition; 64% would certainly think about a made use of lorry, while 35% would certainly choose a brand-new lorry. (Cox)
  4. Behind 4-door cars, SUVs are one of the most prominent option for a customer’s following lorry. (ThinkNow)consumer preferences about type of SUV
  5. 22% intend on getting a pickup as their following lorry as well as 14% intend on getting a minivan. (ThinkNow)
  6. Customers invest in standard 96 days on the market for a brand-new lorry, which has actually dropped substantially from 118 days in2017 (Cox)
  7. The typical time purchasers invest in investigating as well as buying has actually gone down from 14: 44 hrs in 2017 to 13: 55 hrs in2019 (Cox)
  8. 35% of customers familiarize a brand-new make from loved ones, 22% from the net, as well as 13% from TELEVISION. (Cox)
  9. 61% of lorry buying is done online, while 20% is done at the dealer. (Cox)

Cars And Truck Customer Demographics as well as Preferences

The highlights customers are seeking in a brand-new lorry are still dependability as well as safety and security, however the need for price has actually been boosting in2019 A bulk of customers select a car due to the function listing, however several remain to make their option based upon the brand name. Customers are beginning to look in the direction of made use of cars since the cost of brand-new lorry acquisitions as well as leases have actually been continuously increasing over the previous couple of years.

  1. What consumers are seeking in a brand-new lorry: Durability/reliability, safety and security, price, driving convenience, as well as driving efficiency. (Cox)
  2. These are some the factors customers utilize for picking a certain lorry (Cox): Top Reasons for selecting a new vehicle
  3. 64% of customers price price as an essential variable; need for price is boosting. (Cox)
  4. Nonetheless, vehicle rates are boosting. The share of cars valued in between $20,000– $29,999 has actually dropped from 47% in 2012 to 34% in 2019, while the share of cars valued over $50,000 has actually increased from 6% to 23%. (Cox)
  5. 60% of vehicle customers are in between 18 as well as 54, as well as a lot more particularly, customers in between 35-54 choose to get an SUV (48%) over customers in between 18-34 (37%). (AdColony)
  6. 53% of purchasers think about the overall cost of the lorry as more crucial than regular monthly. 47% think about the regular monthly cost equivalent to or more crucial than the overall cost of the lorry. Yet typical regular monthly repayments have actually boosted (Cox): average monthly car payments for 2019
  7. Brand-new purchasers have a tendency to position even more worth on the offer for the lorry (26%) than on the brand name itself (20%). (Cox)
  8. Customers in between 18-34, Millennials (41%), are a lot more curious about independent cars than 55-64, Infant Boomers (15%). (ThinkNow)

Online Cars And Truck Purchasing Customer Routines

One more factor vehicle buying has actually come to be a little bit a lot more effective is since on the internet involvement has actually boosted. Numerous customers think about a smart device crucial when they go to the dealer in order to contrast rates. Nonetheless, desktop computer use is still one of the most prominent alternative for customers when on the internet vehicle buying. A bulk of customers in 2019 resorted to third-party vehicle websites for honest info. Third-party vehicle websites additionally drive brand name recognition, while individuals resort to OEM websites for particular trim information as well as supplier websites to look for a particular lorry.

Dealers can boost the client complete satisfaction degree if they can persuade consumers to utilize an online/digital system throughout the last 77% of car buyers use a desktop computer for car shopping acquisition procedure. Customers are still greatly counting on the net for their study in vehicle rates as well as functions. There is additionally an increasing need for insightful vehicle video clips that would certainly aid consumers make their last acquisition choice.

  1. 77% of individuals still utilize a desktop computer as the key system for on the internet vehicle buying. (Cox)
  2. There is a 52% boost from 2018 in numerous device/mobile use to search for lorry rates, pictures, or information on requirements. (Cox)
  3. 80% of web site gos to from purchasers are for third-party vehicle websites, 46% for dealer websites, as well as 27% of gos to are for the OEM website. (Cox)
  4. 80% of customers check out a minimum of 2 sites throughout the buying procedure; typical variety of websites seen is 4.2 (Cox)
  5. Amongst those going to numerous websites, 65% begin their search with a third-party website as well as 58% end with a third-party website; 32% end at the dealer website. (Cox)
  6. A few of the factors customers utilize electronic or on the internet systems for lorry buying (Cox): top reasons consumers use a computer while car shopping
  7. 61% of customers will certainly think about a pertinent vehicle ad when looking for an automobile. 54% have actually clicked a car advertisement while buying. (AdColony)
  8. 70% would certainly have a rate of interest in enjoying or involving with a video clip on their mobile phone to discover designs as well as functions. (AdColony)
  9. Customers in between 18-34 (18%) are a lot more available to on the internet vehicle acquiring than customers in between 35-54 (9%). Nonetheless, 81% still choose to acquire or rent in-person. (ThinkNow)
  10. Clients can conserve time making use of an online or electronic system:

digital platforms save car buyers time in these categories Dealer Experience as well as Fads

There is a little boost in commitment in the direction of a solitary dealer in 2019, with typical variety of sees to a car dealership on a decrease. A solid bulk of customers choose to make their lorry acquisition in-person since they value the examination drive experience as well as communication with sales individuals. Consumer complete satisfaction boosts as the moment invested in the dealer decreases, so car dealerships require to concentrate on making the documentation procedure a great deal a lot more effective.

  1. The typical variety of sees to a car dealership prior to purchasing has actually dropped from 2.7 gos to in 2017 to 2.3 gos to in2019 (Cox)
  2. Nonetheless, individuals have a tendency to go to one dealer currently; 41% in 2019 from 30% in2017 (Cox)
  3. The different kinds of interaction as well as get in touch with for car dealerships are (Cox): car buyers engage with dealerships using these channels
  4. Customers do not wish to hang out at the dealer; typical time invested is 2: 52 hrs in2019 Customers that invest in standard of 3: 36 hrs have an even worse total dealer experience. (Cox)
  5. The majority of consumers are dissatisfied in the size of the acquisition procedure, with 47% of the moment invested discussing as well as authorizing documentation. Within the documentation phase, 55% assume waiting on the documentation to procedure is one of the most irritating component. (Cox)
  6. 74% of customers were pleased with the examination driving experience as well as 66% were pleased with the communications with the sales individuals at the dealer. (Cox)

Ride-Sharing Solution Trends

The recognition as well as periodic use ride-sharing solutions has actually boosted however total use has actually reduced over the previous 2 years; Millennials comprise the majority of its user-base. Although ride-sharing solutions are still a preferred alternative, several chauffeurs do not assume it will certainly affect their lorry acquisition prepare for the future.

  1. Total ride-sharing use has actually reduced in the previous 2 years. 12% usage it greater than when weekly in 2019 versus 23% in2017 (Deloitte)
  2. The probability of making use of a ride-sharing solution, like Uber as well as Lyft, are still high. 36% are most likely as well as 23% are rather most likely to utilize solution. (ThinkNow)
  3. Amongst ride-sharing solution customers, demographics that assume they still require their very own lorry (Deloitte): Demographics of Ride Sharing users
  4. 35% of chauffeurs that utilize a ride-sharing solution assume that it would certainly have no influence on their future vehicle possession. (ThinkNow)
  5. 48% of ride-sharing solution customers are in between 18-34 while 34% are in between 35-54 (ThinkNow)

Electric as well as Crossbreed Car Trends

Recognition is really high for crossbreed, electrical, as well as plug-in cars however customers are dissuaded by the pricey rates as well as absence of understanding regarding the engine kind. In 2019, the recognition of alternative-fuel cars boosts as client revenue rises. 22% of consumers would consider a hybrid vehicle

  1. 22% choose a crossbreed alternative as their following lorry option, while just 4% would certainly think about an all-electric (BEV). (Deloitte)
  2. Recognition for crossbreed as well as electrical alternatives boost with revenue. There is a 38% degree of recognition for individuals transforming 80 k a year. While there is a 17% recognition degree for individuals making under 40 k a year. (ThinkNow)
  3. Reasons that customers do rule out alternative-fuel cars (ThinkNow): top reasons consumers forgo alternative fuel vehicles

Car Connection Trends

A few of the functions from lorry connection in more recent automobiles enables chauffeurs to open their doors, check gas degrees, begin their lorry, as well as readjust systems from their mobile phone. It additionally has possible for future independent functions that would certainly attach automobiles to bigger environment. Sensing units might enable the lorry to autonomously respond to various roadway problems as well as aid the chauffeur. Yet in 2019, customers do not actually wish to pay added for these functions.

  1. 63% of customers are rather or really worried regarding bio-metric information being shown exterior celebrations. 31% trust fund the OEM to handle the information produced from cars as well as 31% do not trust fund any person to handle the information. (Deloitte)
  2. What chauffeurs are seeking in lorry connection (Deloitte): what drivers are looking for in vehicle connectivity
  3. 25% of customers want to pay greater than a little, 42% would certainly pay just a little, while 33% would certainly not pay any type of added for connection functions that will certainly boost roadway safety and security as well as framework. (Deloitte)

Total Cars And Truck Purchasing Fads as well as Evaluation

Cars and truck customers are remaining to utilize electronic devices to help their acquisition choice, particularly using third-party vehicle websites. Customers desired a trusted as well as feature-full SUV in 2019, however we might possibly see a change in the direction of traveler cars in2020 New vehicle rates as well as leases are continuously boosting numerous customers are looking in the direction of made use of automobiles. Customers still choose to head to the dealer to make the last acquisition, however car dealerships as well as consumers might significantly gain from boosted on the internet monetary solutions as well as recognition.

Resources:

https://www2.deloitte.com/us/en/pages/manufacturing/articles/automotive-trends-millennials-consumer-study.html

https://b2b.autotrader.com/wp-content/uploads/2019/06/2019-Cox-Automotive-Car-Buyer-Journey-Study-Research-Deck.pdf

https://thinknowresearch.com/blog/the-future-of-vehicle-ownership-2019-purchase-trends/

2019 US Vehicle Sales Figures By Model

https://www.adcolony.com/wp-content/uploads/2019/04/Car-Buying-Survey-Feb-2019.pdf