Crunch drives buyers online

Time 13 years ago

recession driving people onlineRESEARCH shows car buyers are purchasing more online, in order to beat the recession and save money.

44 per cent of respondents say they now do more shopping online because of the recession.

Most car buyers are happy to use the internet as a research tool. However, actually buying cars online is less common.


However, the potential to save money means over 75 per cent of people are more likely to now buy a car online than they were a year ago.

81 per cent of people say they would expect to pay less for a car on the internet. And car buying sites such as Autoquake are monitoring the increases.

Fredrik Skantze, chief marketing office, said: ‘We have seen more than a 260% increase in website traffic since the credit crunch started to take hold in June.

‘It looks like 2009 will be the year when buying a used car online becomes a mainstream phenomenon.

Skantze also revealed some interesting car buyer trends:

•    Consumers are willing to widen their geographic search – 93 per cent, because of the economic downturn, are willing to travel further
•    Buyers using Autoquake live 135 miles away from the car. This compares to 5 miles for a traditional dealer.
•    53 per cent of buyers say trust in the seller is the most important factor in buying online
•    21 per cent quote low price
•    14 per cent list a good return policy as key

As for benefits, over a third of respondents say saving money as the key reason why they buy online. But, notably, negotiating with a salesperson was important for 16 per cent of people.

Consumers say they feel at a power disadvantage when dealing with a professional car salesman. The Internet helps them restore the balance of power, by giving them information, but no pressure.

Used car price fall slows

Used car sales crash

Colt worthier than Ferrari

Car Dealer Magazine's avatar

Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

More stories...

Server 190