Study: Auto Shoppers Embrace a New Normal During Pandemic

PLUS: 1 IN 3 ARE SPENDING MORE TIME COMPARING PRICES & PROMOS ONLINE

DENVER, CO (May 13, 2020)—Adtaxi—one of the nation’s fastest-growing digital marketing agencies—today announced the results of its Coronavirus and Automotive consumer survey, which examines trends in response to the crisis among consumers in the market for new or used vehicles. According to the study, 72% of respondents would be more inclined to purchase a vehicle today if they could delay their payments. Additionally, 63% find home test drives useful, and 60% would be more inclined to purchase if the dealership offered home delivery.

“In the midst of social distancing and tightened budgets, this study indicates concrete steps that dealers can take to increase the comfort level of potential buyers,” said Joel Sesco, National Director of Automotive, Adtaxi. “The pandemic has transformed Americans’ shopping experience and priorities. As the country begins reopening for business, it is crucial to meet consumers where they are, with nimble and informed marketing decisions.”

Among the study’s findings:

• Cautiously Moving Forward: During the Coronavirus crisis, 24% of respondents are forging ahead toward a new vehicle to lease or purchase, while 29% are continuing with a used vehicle purchase.

• Shoppers Shift Dramatically to Online: 90% of respondents are comparing makes and models online. 87% are comparing prices and promotions online, and 83% are comparing dealerships online.

• …And Plan to Stay There: After the pandemic, 28% of respondents report they will spend more time comparing makes, models, prices and promotions online. 25% will spend more time comparing dealerships online.

• Consumer Confidence: Roughly half of respondents (45%) believe that local dealerships are consciously taking steps to ensure their safety, while 39% find current automotive advertising helpful to them. Shoppers find financing options, delayed payments and the home test drive availability to be the most useful in the decision making process.

This study comes on the heels of Adtaxi’s Coronavirus and E-commerce study, which showed that 45% of respondents report paying closer attention to advertising during this crisis, and 68% find it helpful when companies address the Coronavirus in their advertising. Another important figure: in the study 62% agreed that companies who address the crisis in advertising have their best interests at heart.

“It is clear from this data that more can be done to refine messaging – reassuring consumers of safety precautions and informing them about the online resources available to them,” said Sesco. “While many purchase decisions may have been delayed, a focus on website optimization and informative and empathetic marketing will help ensure that when customers are ready to buy, they will buy from you.”

Methodology
This survey was conducted for Adtaxi online via Survey Monkey. A national sample of 581 adults were surveyed – each of whom indicated via a screener question that they were in the market for a new or used vehicle. The survey was conducted on April 30th, 2020 with respondents spanning across U.S. geographic regions, income levels, gender and age.