85% of Car Buyers Associate Brand Names with Reliability
March 25, 2008
A recent survey from BuyingAdvice.com revealed what factors are important to car buyers as they search for a new or used vehicle.
13% of participants claimed that when choosing their next vehicle, brand name would not be important at all. However, 85% believed that brand name was a good indication of reliability and 73% claimed to have purchased more than one car of the same brand.
As a result of current issues with the economy, the car buyer’s priorities and shopping methods have changed. 33% of those polled stated that the country of origin of a brand is not at all an important consideration to them. Recent studies have shown that factors such as fuel efficiency, size, and price are now more crucial to the consumer.
The Internet also plays a large role in the decision-making process for car buyers. Reportedly, at least 80% of prospective buyers use the Internet in their search for a new car. Through this method, consumers are continually gaining more power in the car-buying process. As a result, they are less dependent on the dealer for information. This might partially explain why only 17% of individuals felt loyal to one particular dealership.
The information for the BuyingAdvice.com survey was taken from over 2,200 users of the site’s price quote service. Each participant stated they were within 30 days of buying a new vehicle.
