Skip to main content

The Appetite for Buying Used Cars Online is Still Relatively Low  

The Appetite for Buying Used Cars Online is Still Relatively Low  

These were important findings within MotoNovo Finance's latest wave of its long-term, independently undertaken research assessing consumers attitude to car buying, assessing how the car buying journey & research has evolved over the last year.

While the research phase of a car purchase by consumers is dominated by online marketplaces and other online search tools, the position is reversed entirely in the final decision-making processes. Dealers are dominant when it comes to the purchase point with online (led prominently by OEM websites) and private purchases, both a considerable way back in sharing a little under 25% of the market.

Encouraging as the data is for dealers, there is no room for complacency, as MotoNovo's MD Karl Werner points out;

"What we can see in action is the classic marketing AIDA mantra; Awareness, Interest, Desire, Action, with dealers only performing well in the final Action stage. It presents a potential risk if online can bridge that final process hurdle. 

Digitally, dealers can help themselves by providing a more rounded consumer experience/journey that moves beyond the dominant focus on cars/vans and builds value in a broader offering and service/lifetime experience. A vital learning point over the last twenty months has to be that service and experience often outranks price and product alone."    

*Article Source

Hi, I am Alphie. How can I help you?