The biannual review of the UK’s new and used car market, consumer buying and selling intentions, and data and observations taken from activity on Auto Trader, the UK’s largest digital automotive marketplace
The perception for UK car buyers is far worse than the reality. The statistic is reversed when we ask car buyers who have actually bought a car in the last six months, with only 7% claiming they didn’t trust the dealership they bought from.
Over three quarters of car buyers claim that the transparent pricing of cars is the most important factor in the purchase process. Consumers consider it more important than history checks or sales people when looking to buy a car.
One fifth of recent car buyers found vague, hard to find or misleading information in their recent research to buy a car, with over a third claiming they delayed or actually put off buying all together.
30 days before the vote took place, 75% of consumers said their car buying intentions would not be influenced by the EU Referendum. This rose to 89% following the Brexit result.
There’s been a reasonable increase in the concerns UK drivers have with the cost of running a car. Despite this, the number of consumers planning to change to a more fuel efficient or cost effective car remain steady year-on-year.
Concerns about the future of new and used car prices are mostly shared by younger car buyers. Negative predictions about the future of the economy and subsequent affect on car prices is a trend that steadily decreases with age.