Buyers seek omnichannel solution to vehicle purchase
New analysis has revealed how car buyers now use multiple channels to research their next vehicle purchase.
Automotive tech company Codeweavers studied the behaviour of more than 5,000 consumers during their purchasing journey for its report, Car Finance Market Trends and Buyer Behaviour.
The report found that in the UK 59% still visit a dealership for their next car, while 47% and 43% also review retailer and vehicle manufacturer websites. However, more than a quarter (26%) now also incorporate social media in their vehicle research process.
The data also identified what car buyers value most, with affordability topping the list (51%), followed by consistent pricing across all channels (45%), and integration between digital and in-person data (44%).
The findings also point to growing demand for vehicle finance. While 41.3% of UK respondents used finance for their most recent vehicle purchase, more than two-thirds (67.6%) said they would be open to using it in the future.
UK buyers are also among the most confident in Europe when it comes to understanding vehicle finance, with 44.2% saying they are very confident in their understanding.
