According to Auto Trader’s Annual Buying Report, nearly 50% of 17-24 year olds intend to buy either a new or a used car, as 38% of 25 to 35 year olds remain undecided and only 9% of all Millennials even visit a dealership straight up.
Over 2,000 customers were surveyed for this report, which also uncovered that spending time online is key for Millennials when researching a certain car.
Furthermore, over a third of all car buyers don’t even intend on visiting a dealership when trying to figure out which model they should buy.
Another key statistic is the fact that half of them are open to whether their new car will be new or pre-owned, which means manufacturers and retailers can still influence their buying decision.
“We know there is now no real difference between a new and a used car buyer anymore – there are just car buyers,” said Auto Trader exec Nick King. “This is particularly true of the 17-24 year olds, the biggest demographic of car buyers to consider new or used with 42% of them open to either.”
“This is your future audience and not one to be ignored as this generation is used to next-day delivery, and getting everything they want immediately, and it’s why 48% of millennials expect to walk in to a dealership and buy there and then.”
The research also indicates that nearly half of all car buyers walk into a showroom intending to purchase a vehicle on the spot. With this in mind, retailers need to make sure customers can complete their purchase quickly and effortlessly, while also providing a “seamless and enjoyable purchase experience” which basically starts the moment the customer browses for a certain model online.
Also, it seems that the third biggest reason as to why a consumer bought a car from a certain retailer, is how friendly and courteous the staff was.
So how do you guys feel about buying new vs. used and especially about completing your research online before you walk into a dealership?
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