carwow reveals consumer appetite for in-stock new cars

Monday, March 30, 2020 - 10:16
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Analysis of carwow visitor trends between 17th and 25th March reveals that car buyers are increasingly considering in-stock vehicles, as concerns over new car availability and delivery times sway consumer purchase decisions.

carwow

carwow founders; James Alex and David

A survey of 440 motorists* conducted a week ago revealed that 80% of buyers would prefer to buy a new car available immediately from dealer stock, than place a factory order if it meant facing delays in delivery.  This sentiment is already evident in carwow visitor activity, with in-stock views increasing by 10% in the last 7 days, to 59%.  This confirms consumer appetite to buy a new car remains, but people are less inclined to wait for a new car configured to their personal preferences.

A flash poll of 800 carwow visitors** highlights consumers lack confidence in the new car supply chain in the current climate, with over 25% believing if they placed an order with a manufacturer for their dream car today, it wouldn’t be delivered for at least 6 months. 9% of these buyers said they expected to be waiting for more than a year. Conversely, despite many manufacturers temporarily halting production across the globe, 21% of buyers optimistically think a new car can be delivered in 3-6 weeks.

Hasan Nergiz, Director of OEM at carwow commented: “During these unprecedented times that our automotive industry is facing, we obviously welcome the optimism of some motorists on when factories will be back up and running.  But the reality is that the car manufacturing distribution model is truly global, multi-faceted and very complex. On average, building one model can involve more than 300 different suppliers worldwide and, as each part is essential, that means all factories globally need to be back working to full capacity for car production to restart.

“For customers in-market now, the good news is manufacturers and dealers have several months’ worth of stocks available so there are many viable options. By browsing on the stock available pages and keeping an open mind on specs and optional extras, those looking to buy can get a car delivered to their door now and might even get a better deal.”


*A survey of 440 carwow visitors conducted on 17th March
**A survey of 800 carwow visitors conducted Tuesday 24th March.

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