Bite-Sized Insights: Buying Cars
Each week we ask our trusted Insights panel of parents a key question. This week we were interested in finding out whether parents are saving more or less than before lockdown. It turns out 22% of parents are planning to buy a car this year or next. Take a quick read of this week’s bite-sized insights to find out what else parents told us:
Would you like business-transforming insights for your brand? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help your decision making and activate customers. Contact us now to find how we can help.
In times of uncertainty, committing to large household purchases or taking on extra finance (e.g. a car loan) may not be a priority for consumers. But people are planning to buy so how can you tap into and appeal to those segments. For some it may be to avail of a better deal, for some it’s out of necessity and some may be wanting to make the change to hybrid or electric.
Recommended reading: What Parents Told Us About Word of Mouth
We asked our Insights panel of parents to answer this quick question:
Are you planning to buy a new car this summer?
- No plans this year 67%
- Yes planning to buy a new car (petrol or diesel) 8%
- Planning for next year 6%
- Yes planning to buy a used car (petrol or diesel) 6%
- Yes planning to buy new car (electric or hybrid) 2%
- Other 11%
Some additional comments from our panel members included:
“Would love a more environmentally friendly option but don’t know where to start.”
“Following the birth of our 4th child we need to get a 7 seater…difficult to get hybrid in the 7 seat category but trying to avoid diesel.”
“I would love to buy and would definitely try to go hybrid. Probably Toyota if I could. Money issues prevent at the moment.”
“Electric cars are all well and good but out of price reach for most people.”
Reflections for Car Brands
- Parents obviously think environmentally friendly models are the way they should go but are unsure what to go for or lack knowledge about e.g. are you communicating the running cost differential compared to traditional cars?
- What financing options are you giving parents to buy now and pay later?
- Can you entice families with add on offers like service packages, upgrades etc.?
Would you like business-transforming insights from parents for your business? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help influence consumers to deliver long term profitability. Contact us now to find how we can help.