Luxury vehicle sales have been consistently posting strong growth, and it turns out much of that growth may be attributed to first-time buyers, according to findings from the 2019 CarGurus Buyer Insights Report. About three in ten luxury car buyers said that before their most recent purchase, they had never bought a car.
Remember the headlines a few years back that Millennials were delaying buying a car? It seems that now that they’re ready to buy, they don’t want just any car, but rather an aspirational one. Our research found that first-time buyers in luxury are, on average, 29 years old. Additionally, among first-time buyers in luxury:
When it comes to researching and buying a car, CPO buyers are all about being informed and getting their questions answered before making a decision, according to the 2019 CarGurus Buyer Insights Report. They spend hours researching and comparing their options, relying on online resources and experts to give them the confidence they need to purchase a vehicle.
How you manage each potential customers’ experience with your dealership is critical to closing the sale
Customers in the market for a car don’t just follow a straight line from wanting to buying. They shift between on and offline resources an estimated four times, but it’s the dealership that almost always closes with an average of 2.4 visits per sale. It’s clear: how you respond to repeat visitors clearly matters.
Your data is your most important sales resource
Closing a sale at your dealership is led by knowing your buyer, from preferences to budget, and more. Having those same data points for online shoppers is key to driving leads to your dealership.
Getting to know a potential car buyer in your dealership is easy. Talking, asking, listening, advising—it’s the car salesperson’s mantra.
Getting to know your online shoppers, though, can be an entirely different proposition.
- You can’t really talk to them one-on-one
- You can only ask limited questions
- Listening and advising isn’t as dynamic as a face-to-face conversation in a dealership
This may appear to paint a bleak picture for online lead generation and conversion, but it overlooks a simple yet powerful tool that also happens to be free of charge: Google Analytics.
Digital marketing provider Netsertive released a study last week that confirmed several trends in car shopper behavior:
Perhaps you’ve heard that crossovers – Honda CR-Vs, Ford Escapes, Chevrolet Equinoxes, et al. – are now the nation’s most popular new-vehicle segment.
Turns out, their popularity extends to the used market, too.
While the internet is moving towards mobile – and this holds true at CarGurus, which gets 62% of its user traffic from smartphones – desktop computers aren’t going away.
After all, people still prefer desktops for making purchases. Sixty-six percent of online consumer spending happens on PCs.
Auto shoppers continue to rely on desktops, as well. So let’s take a closer look at desktop use on CarGurus. How does the CarGurus user base split between Windows and Mac? The answer may surprise you.
The CarGurus platform handles more than 20 million unique visitors every month, and hundreds of thousands of those people submit leads via email or phone. That gives us a unique level of insight into what auto shoppers are interested in – and where in the country they are most active.
For this lead-gen report, let’s take a look at regional lead data to identify which cities have the most engaged digital auto shoppers.
We recently explored auto buying habits for younger Millennials – those just out of college. Contrary to much of what has been reported in the media, these young people are interested in buying cars and trucks.
It may be the case that passing a major “life milestone” (i.e., graduating from college) is what spurs young shoppers to start searching for a car. With that in mind, it’s interesting that older Millennials, those aged 25 to 34, also appear to be jumping into the market.
If you use a smartphone, odds are you’re either a die-hard iPhone fan or a committed Android user. Other operating systems have come and gone in the past decade, but iOS and Android now split about 98% of the US smartphone market.
What you may not expect is that the two OSs are the most popular platforms for accessing CarGurus.com – even more so than Windows or Mac OS.
But they are, and by a wide margin.