Majority of UK car buyers say Covid-19 crisis has not impacted their intention to purchase
- 78% of in-market buyers will continue with used car purchases
- An additional 12% who were not planning to buy a car are now looking
- 82% plan to spend the same on a used car as before the crisis
- Over a quarter of buyers motivated by shift from public transport
21 September 2020 The majority of UK car buyers have not been put off purchasing a vehicle by the Covid-19 crisis, according to new consumer research by Motors.co.uk
Over three-quarters of buyers (77%) say their plans to buy a car have not been affected by the pandemic.
Furthermore, 12% of respondents who were not planning to buy a car before lockdown are now actively looking to make a purchase.
The Consumer Insight Panel polled the views of 529 visitors to Motors.co.uk in August and September.
The majority of buyers say the current situation had not impacted on their original decision on the type of car they would buy, with 78% saying they would still buy used and 9% saying they will continue to buy new. Although a switch from new to used is now on the cards for 13% of respondents.
When it comes to budgeting, the research found most buyers (82%) plan to spend the same on a vehicle regardless of the Covid-19 crisis. While 11% said they will spend less to buy a smaller car because of job and economic uncertainties.
Purchasing a car to avoid using public transport was a significant factor among over a quarter (28%) of buyers, a figure which increased to 36% for women with children at home.
"Our research shows just how strong demand for used cars is and how buyers have not put purchasing decisions on hold because of the pandemic, which is welcome news for dealers across the UK," said Dermot Kelleher, head of marketing and research at eBay Motors Group.
Kelleher also highlighted the necessity for dealers to cater for the needs of new buyers opting out of public transport.
"With over a quarter of buyers planning to purchase a car as an alternative to using public transport, dealers need to prepare for a new type of used car customer, including some first time buyers, looking for cars which they have not necessarily budgeted for. There is an opportunity for dealers to engage with these buyers by matching them to the best possible car for their needs, supported by affordable finance solutions tailored to their individual budgets," he said.