YouGov Survey Finds Price The Most Crucial Factor For Future Car Buyers

The Right Price is the most determining factor for future car buyers when deciding where to purchase their new vehicle.

Theinternational research, data, and analytics group YouGov recently conducted a survey and found out that Price is the most important factor driving car buying decisions in 2022. The study was performed in July to discover how car buying behaviour and different channels are developing.  

According to the study, 15 per cent of worldwide respondents are inclined to purchase from an online retailer. That figure jumps to 18 per cent for the Brits.

The international automotive white paper, The Road Ahead For Future Car Buying, deals with 18 worldwide markets and surveyed over 19,000 respondents, with the calculations further strengthened by studies from YouGov Global Profiles and BrandIndex.

YouGov stated that the Price has to be the prime factor in making car buying decisions due to the increasing inflation.

It was self-evident for the British vehicle buyers where about two-thirds (65 per cent) of the total respondents were concerned about the Price.

The YouGov survey also took into account factors for vehicle buying in addition to the interest and buyer’s inclination for electrified vehicles.

The ability to physically test drive a vehicle was the second most crucial aspect, with over half (57 per cent) of future vehicle buyers wanting to examine the vehicle before the purchase.

Besides, over a third (35 per cent) of worldwide car purchasers liked to trade in their current vehicle while buying their next ride.

However, around a tenth – 8 per cent – desired not to make a physical interaction with the car seller while buying.

The most critical aspect to international vehicle purchasers while determining where to purchase a new set of wheels. (Figures are percentages.)

Additionally, the survey found that 68 per cent of worldwide vehicle buyers would like an in-person purchase from a showroom (82 per cent in Great Britain),

Fifteen per cent are happy to buy from an online auto retailer (18 per cent in Great Britain), and 13 per cent want to shop from an automaker that only trades vehicles online; for instance, Tesla and Polestar (13 per cent in Great Britain, as well).

About two-thirds (65 per cent) of international vehicle buyers approved electrification for their future commutes (same percentage for Great Britain), with only 11 per cent disapproving. However, this figure is around a fifth at 19 per cent for Great Britain.

Regarding purchasing an expensive, luxurious EV, 59 per cent showed an interest worldwide (50 per cent in Great Britain).

Apart from Great Britain, YouGov took the opinion of consumers from America, Canada, Mexico, France, Germany, Spain, Denmark, Italy, Poland, Sweden, Australia, China, Hong Kong, Indonesia, India, Singapore, and the United Arab Emirates.

You can download the complete white paper here.

Source and Image: Car Dealer Magazine