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WhatCar says is the cost of living crisis that causes car buyers to delay their purchases?

WhatCar? According to the company, car buyers are delaying their purchases due to the cost of living crisis.

In addition, customers are cutting their budgets and are considering manufacturers and models that are not what they originally intended.

WhatCar for 1,232 buyers who said they were in the car market? In market research, 36.61% decided to postpone their purchases due to a living cost crisis, and 48.45% backed it up. For more than three months, 24.11% are delaying car purchases until next year.

According to the survey, 39.68% of buyers are changing the manufacturer or model they are considering due to the cost of living crisis, 71.74% of buyers are considering a completely different manufacturer and model, and 12.80%. I answered that I am currently looking for it. With another model of the same manufacturer.

The crisis is also affecting budgets, with 35.05% of buyers saying What Car? They are spending less on their next car. When asked how much they would reduce their spending, 25.37% of buyers estimated it to be 10-15%, 23.58% considered reducing their spending by 5-10% and 22.99% by more than 20%. did.

Of the 1,232 buyers surveyed, 38.46% said they were considering buying a new car, 34.01% were on the used car market, and the rest are undecided. Of those who bought a used car, 20.62% answered “What Car?”. They were initially on the market for new models, but due to the cost of living crisis, they began to consider second-hand models instead.

What Car? The editor of Steve Huntingford said: As our research shows, a significant percentage of buyers are looking at different manufacturers and models to modify their budgets, postpone car purchases, and offset rising living costs. “



WhatCar says is the cost of living crisis that causes car buyers to delay their purchases?

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