Since the beginning of 2020, there have been a lot of huge changes in car purchasing trends in the US and UK. If you quickly look at the news, it might appear as if the pandemic made everyone into used car purchasers. You may also get the impression that new car manufacturing came to a halt. However, we need to ask ourselves what has really changed. Let’s have a look into things, then if you want to begin offering a car broker service you can find out how with us.
To start with, online purchasing has increased. According to Autotrader, 2 out of 3 shoppers have a higher chance of purchasing their vehicle 100% on the internet. To confuse things further though, Deloitte did a survey. They found that a mere 29% of buyers would want to buy their car partially or fully online. Their research also revealed the leading two reasons why they favour buying in person; they want to see the motor (75%) and take a test drive (64%).
The trend is considerably different for used vehicles. Modern Retail found that fully online car purchases only made up 2% of sales. This is a growing area however. In 2017, a mere 3% of car buyers were looking at online dealerships. In 2020, the figure went up to 17%.
Next, the interest in electric vehicles had a massive increase. According to a report by McKinsey & Company, from November 2020 to June 2021 the purchase intent for EVs from car buyers went up to 48%, rising from 39%.
However, there has been a big dip in prices lately in the UK. The interest is still there, but more vehicles are coming on to the second hand market, pulling down prices. There is a lot of work for people who offer a car broker service to do here.
Test drives and deliveries
Finally, test drives and home delivery are becoming standard. According to one Google survey, an at-home test drive was the top preferred service of shoppers. CarGurus support this, claiming that 32% of consumers expect it. Around 30% of people also want home delivery of a car rather than having to collect it.
A swift glance for online search results makes something clear. This is that the auto dealers are attempting to accommodate these new trends. More used and new car dealers are both supplying test drives and vehicle delivery options. Some will drive the motor to the individual’s property and wait until the test drive concludes. Others provide 24-hour tests or 7-day money-back assurances.
The wider economy
It is not necessary to look far to see the reality of things here. Look at the number of contactless delivery and kerbside pickup options all around us. Big box shops and restaurants both have them now. There are also grocery delivery services and contactless check-in at hotels. So, it is not surprising that car purchasing has changed too. It is just an evolution of the economy.
Start using our modules if you want to offer a car broker service
At Auto Car Brokers, we supply a comprehensive suite of modules to teach you about the car broking industry. You have the option of buying everything at once or individual modules. That way, you’re able to go at a pace that suits you.
Feel free to come to us if you would like to learn more about operating a car broker service. We know all about broking, both in the UK and US. So, we can give everyone the best start and excellent ongoing support.