What goes into the car buying journey for the average auto shopper? Does the path to purchase look different depending on the segment? What happens when a global pandemic disrupts the auto industry?
At a time when dealers must adapt and evolve their marketing and selling processes in order to succeed, these questions are crucial—and the CarGurus 2020 Buyer Insight Report aims to provide the answers. The report brings together the results of our annual path-to-purchase study and our ongoing COVID-19 Sentiment Study to give dealers a pulse on today’s complicated car buying process. Key findings include:
- Most car buyers (66%) start undecided on where to buy, but narrow their consideration set significantly before taking action. In fact, the average shopper contacts just three sellers and visits only two before making a purchase.
- The internet informs nearly every purchase today—and cars are no exception. In particular, 93% of shoppers use auto-shopping sites like CarGurus and the average user visits 12 times before buying. This category of sites is the most widely and frequently used auto resource for the third year in a row.
- Shoppers have become even more digitally savvy, and interest in digital retail has surged as a result of the pandemic. Today, 60% of shoppers are open to buying online. However, the dealership visit likely isn’t going away anytime soon—63% would still prefer to make the purchase in person.
The report also breaks down what makes key auto shopping segments unique, from Millennials to Gen Z. These valuable insights can be used to better target and reach ready-to-buy shoppers and, ultimately, help dealers sell more cars.
To learn more about today’s digital car shoppers, download the CarGurus 2020 Buyer Insight Report.