Car sales in the UK How has consumer preference changed?
of Britons plan to purchase a car this year to avoid using public transportation
of Britons would prefer buying a hatchback; one-third also plan to pay by cash
would be interested in cars that come with health and wellness monitoring features
The easing of lockdown has brought some relief to the auto industry as car sales have steadily risen. The market, however, continues to remain fragile as pay cuts and job losses also keep mounting. This report delves into how the ongoing uncertainties have affected consumer choices and decisions in the coming months. Automotive brands and dealers can leverage this data in their decision making.
Even as Britons return to normalcy, consumer spending continues to take a hit amid the ongoing pandemic and its related impact. The automobile industry, which was one of the severely hit sectors, has seen car purchases drop by more than 40% over the first seven months of 2020 compared with 2019. But as restrictions ease and people head out, sales seem to be slowly picking up, partly due to fear of using public transport. Amid changing consumer preferences, what new trends can the auto industry look forward to this year? Piplsay polled 12,000 Britons to get these insights. Here’s a summary fo what we found:
- 15% of men and 12% of women have cancelled their plans for a car due to the pandemic
- 60% of Millennials are interested in hybrid and plug-in hybrids as compared to 40% of Gen Xers
- 30% Millennials plan to for cash payment while 30% of Gen Zers plan to pay through credit card
Survey Methodology: This Piplsay survey (powered by Market Cube) was conducted nationwide in the UK from September 19-20, 2020. We received 12,000 online responses from individuals aged 18 years and older.