37% Of Car Sales by 2007 in the United States Will Be a Result of the Internet, as It Offers Consumers the Power to Become More Educated in the Process of Buying a CarDUBLIN, Ireland--Nov. 3, 2005--Research and Markets (http://www.researchandmarkets.com/reports/c26595 ) has announced the addition of Automobile Purchase Process in the United States to their offering.
Given that the purchase of a car is a major financial outlay, trends in personal disposable income and consumer expenditure are key variables impacting demand. This is something of a double-edged sword in that car manufacturers and dealerships tend to fare well when the economy is booming, but, conversely, are generally hit hard during a slump. During a recession, if consumers do purchase a car, they may be more circumspect, opting for a lower-specification model, foregoing optional extras. Therefore, it is unrealistic to expect consumers to purchase a car more than once every other year.
In addition, the industry is also evolving as consumers invest time into researching cars before they sit down to bargain. The Internet is creating more educated consumers who are demanding better equipped, higher quality vehicles at lower prices. According to the consumer price index, new cars and light trucks today cost less in real-dollar terms than in 1982, despite having air bags, antilock brakes, CD players, power windows and other features wither unavailable or considered luxury options at that time. This results in abandoning brand loyalty and buying for the best deal. Research analysis in sales and consumer preference is the strongest way to push forward in such a competitive market.
The thorough research offered will create new dimensions to marketing strategies and open new target audiences. Pooling together the most innovative consumer research and latest market analysis, our new report offers you all the insight and inspiration you need for designing clever, creative and profitable marketing strategies. Use the research to:
Find out more about the total market for cars and the current market factors
Discover key growth areas in the motor industry
View detailed demographic breakdowns analysed by experts
Pin point market potential before your competitors
Discover the best target audiences and how to reach them
Measure market forecasts and build realistic business models
Intriguing findings include:
Consumer research finds that the strongest base for both new standard cars and new luxury cars comes from adults aged 54+, and from singles and couples without children.
Some 85% of luxury car owners also own another vehicle, despite the tendency for luxury owners to have smaller households
Consumers are increasingly aware of rising gas prices, and with 55% of respondents saying that those prices changed their decisions about how they drive
By 2007, 37% of all new car sales will be the direct result of the Internet
We define the automotive purchase process as the series of steps consumers take before buying a standard car, SUV or light truck, or a luxury car. The report examines the period between 2003 and 2005.
Group 1 Automotive
Bill Heard Enterprises
For more information visit http://www.researchandmarkets.com/reports/c26595