“Technology continues to evolve the automotive shopping journey,” said Josh Wetzel, Senior Director of Sales
Survey responses showed an evolution in the way people buy and communicate the good news about their auto purchases. Key findings include:
- eBay Motors buyers rely more on customer and professional reviews versus informational dealership visits.
- The average length of the purchase journey is two months, which consists of researching, reading reviews, etc.
- Women are more likely than men to plan to keep their vehicle until it dies.
- 71% of respondents said they prefer to share the news of a new vehicle purchase with their friends and family in person, rather than via the phone, text, and social media.
- Sedans and SUV/ Crossovers were the most popular vehicles purchased.
- Men are more likely than women to purchase both convertibles and collectible cars.
Insurance proved to be an important part of the automotive purchase journey. The survey results show that two in three consumers research insurance providers during the automotive purchase process, with the majority conducting their research online1. When respondents were asked what they would be willing to do to reduce their insurance costs, the top three responses were:
- Drive more carefully (72%).
- Drive a more conservative car (59%).
- Upgrade my security system (57%).
When they were given the option to insure anything in the personal lives aside from their homes, cars, etc., the top three responses were:
- My personal identity.
- My relationship with my significant other.
- My career.
However, men and women didn’t have the same priorities when it came to insuring their personal lives. More men said they would rather insure their physical appearance than women did. Additionally, those with incomes of more than $70K were more likely to insure their appearance while those earning less than $70K said they would insure their relationships.
eBay Advertising executed a two-party survey consisting of a general consumer survey and eBay Motors advertising data. eBay Advertising surveyed more than 1,000 U.S. consumers between the ages of 18 and 65 who had purchased a vehicle in the last six months. The company also analyzed eBay Motors data based on approximately 1,000 consumers who had either made purchases from the ‘cars & trucks’ category on eBay Motors, or who had browsed through eBay Motors in 2016.