Following the implementation of Lockdown 2.0, Auto Trader, surveyed over 1,000 car buyers last week, and of those who are looking to buy in the next three months, over half of them (58%) said they will buy a car within the next few weeks.
When asked if the government’s announcement had affected their decision to buy a car, 55% said it had made no impact, and 7% said it made them want to purchase a car even quicker. Just 14% said it had made them delay their purchase.
Whilst forecourts are still required to close, both consumers and manufacturers have now had some time to acclimatise to buying and selling online. Manufacturers are therefore striving to improve the online buying experience such as allowing a virtual walk arounds and ensuring online enquiries are followed up instantly. Whilst there is significant competition online from various buying platforms, there is still often a preference to deal with the local dealership when buying a new car, therefore it’s important the remote buying experience is seamless.
Further research done by Autotrader indicated that 50% of buyers were willing to utilise click and collect services in terms of delivery of their new car. This is perhaps aided by the fact that a large proportion of buyers now buy on personal contract purchase contracts therefore are used to the flexibility this brings and the ability to exchange or upgrade their car in future.
In light of the above, it is hoped the impact of the current restrictions on dealerships will be far more limited in comparison to the first lockdown.
The next step
For any further information or support, please contact James Astley or your usual UHY adviser.
