7:36 am, September 21, 2020
Coronavirus hasn’t put off the majority of UK car buyers from purchasing a new vehicle, new research has found.
Over three-quarters of buyers (77 per cent) say their plans to buy a car have not been affected by the pandemic, Motors.co.uk found.
Furthermore, 12 per cent of respondents who were not planning to buy a car before lockdown are now actively looking to make a purchase.
The Consumer Insight Panel polled the views of 529 visitors to Motors.co.uk in August and September.
The majority of buyers say the current situation had not impacted on their original decision on the type of car they would buy.
Some 78 per cent of the respondents said they would still buy used and nine per cent said they will continue to buy new.
However, a switch from new to used is now on the cards for 13 per cent of respondents.
When it comes to budgeting, the research found most buyers (82 per cent) plan to spend the same on a vehicle regardless of the Covid-19 crisis, while 11 per cent said they will spend less to buy a smaller car because of job and economic uncertainties.
Purchasing a car to avoid using public transport was a significant factor among over a quarter (28 per cent) of buyers, a figure which increased to 36 per cent for women with children at home.
Dermot Kelleher, head of marketing and research at eBay Motors Group, said: ‘Our research shows just how strong demand for used cars is and how buyers have not put purchasing decisions on hold because of the pandemic, which is welcome news for dealers across the UK.’
Kelleher also highlighted the necessity for dealers to cater for the needs of new buyers opting out of public transport.
‘With over a quarter of buyers planning to purchase a car as an alternative to using public transport, dealers need to prepare for a new type of used car customer, including some first time buyers, looking for cars which they have not necessarily budgeted for.
‘There is an opportunity for dealers to engage with these buyers by matching them to the best possible car for their needs, supported by affordable finance solutions tailored to their individual budgets.’
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