The impact of COVID-19 (Coronavirus) is widespread and it has presented challenges to how consumers and businesses interact. Despite this, new survey data from Carzone demonstrates how Irish car buyers are continuing to research their next purchase and embracing digital tools to make an informed decision. As a result of social distancing measures, the process of car buying in Ireland is moving increasingly towards an online transaction model.
In a new survey, Carzone surveyed a large set of car buyers to better understand how COVID-19 is shaping demand in the Irish motoring industry. Hundreds of car buyers completed the survey whilst searching for a car on the Carzone desktop website. Firstly, we asked car buyers, “Has COVID-19 changed your car buying journey”. 25 percent of respondents said they are still looking to change their car as soon as possible. 64 percent of respondents said they will delay purchasing a car until this is over, while 11 percent of respondents said they have cancelled their search for a newer car.
One quarter of Irish car buyers said they are still looking to change their car as soon as possible despite COVID-19
Carzone asked car buyers where they currently are in the car buying journey and 46 percent of respondents said they are in the early research phase, 38 percent of respondents said they are looking for the best deal, and 16 percent of respondents said they are ready to purchase a car. These findings reinforce the importance of advertising cars for sale online, as buyers are able to digitally browse and research their next purchase despite current restrictions.
46 percent of car buyers surveyed said they are currently in the early research phase
In order to understand the tools that car buyers need at this time, the surveyed asked “What would be most helpful for buying your next car”. This question demonstrated an overwhelming demand for digital tools such as video and live chat. Just under half of respondents said a virtual video tour of the car would be most useful, while 21 percent of respondents said the ability to engage with the selling dealership by live chat or text would be helpful. 17 percent of respondents said an online car finance application would be helpful, with 13 percent citing a call-back from the dealership as helpful.
49 percent of car buyers surveyed said they would find a virtual video tour of the car most helpful while researching their next car
While it is evident that COVID-19 is a catalyst for car buyers shifting towards online transactions more than ever before, Carzone has also observed a change in the way that sellers are using the platform to advertise their cars. Since mid-March when the first COVID-19 measures were implemented in Ireland, 2,500 additional video tours of cars for sale on Carzone were added by car dealerships advertising on the platform. Similarly, there has been a marked increase in the number of live chat interactions between car buyers and sellers on Carzone in recent weeks as car buyers research their next purchase from the comfort and safety of their home.
As Ireland’s longest-running online car sales platform and with the largest audience of engaged car buyers nationwide, Carzone looks forward to bringing you more insights in the coming weeks.