Accenture: Study on car buyers & the internet

A recent study by Accenture has found out that a majority of the surveyed recipients wish to have a greater role of digital media during the car-buying process. Contrary to the older process where the car-buying experience was all about visiting multiple dealerships, test driving different vehicles, negotiating with the dealers for the best deal etc. car-buyers today have changed preferences.

The global survey was conducted among 10,000 car owners across 8 different countries - India, China, Brazil, France, Germany, Italy, Japan and the United States. Some key findings of this survey are as below:

India-specific findings

• 84% of the drivers would choose to go through an entirely online procedure to buy a car, which includes financing, price negotiation, paperwork and home delivery of the vehicle.
• 53% of the respondents claimed to have been influenced by car websites and online automotive publications, when making a car-buying decision.
• 82% are interested in online financing and negotiations in the car-buying process.
• 69% Indians claimed that free oil changes or maintenance options would influence the choice of buying/leasing a new car.

Global findings

• 80% of respondents looking to buy a new vehicle use some form of digital technology to research.
• 62% initiate the car buying process online (which includes seeking help from social media channels) before visiting a car dealership.
• 75% would consider their entire car-purchase process online. Interestingly, 92% of the Chinese respondents were 'for' this idea while 80% of the Japanese were 'against' it.
• 63% would be interested in buying a new car via an online auction. 90% of the Chinese respondents were interested in this while 80%, 65% and 55% of Japanese, French and Germans were against the idea.
• >50% respondents hopes that the automobile industry improves the online channels to make researching a new vehicle easier. Users are more interested in getting tailored information available online, more demonstrations and more sites which provide an opportunity for comparison shopping.