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Quality Grows As Top Factor in Car Buying Decisions

Vehicle Quality Grows To Become The Top Decision Factor in Car Buying Decisions


45% of Americans say that quality is the factor that most influences their car-buying decision, representing 22% growth from 37% who cited the factor in 2010, according to a CarMax survey released in December 2011 conducted by Ipsos Public Affairs. Data from the survey indicates that price is the second most influential factor, voted by 22% of respondents, down from 28% in 2011. Fewer Americans also cite safety as being most influential when choosing a car, selected by 15% of respondents this year, compared to 22% in 2010. By contrast, resale value has grown in importance, rising from 4% of respondents last year to 7% this year, while environmental or green factors have remained unchanged at 6%.

 

 

Quality More Important to Men, Affluent

Men are 46% more likely than women to take quality into account when choosing a car (54% vs. 37%), while consumers with a household income of at least $75,000 are also more likely than those with lower incomes to pick quality as the most important factor in their decision (55% vs. 40%). Price is almost twice as likely to be the most influential factor among those with a household income under $75,000 than among those who are more affluent (27% vs. 14%), while safety is more of a concern for parents than it is for adults without a child under 18 (20% vs. 13%), much the same as it was in 2010 (27% vs. 18%).

 

 

Women Want an Easy Transaction

Meanwhile, according to a separate CarMax survey conducted by Ipsos released in November, roughly 1 in 4 women said what was most missing from their last car-buying experience was a quick and effortless transaction.  A fair trade-in value, trustworthy salesperson, or low, fair pricing (all at 15%) were most missing for relatively fewer women. In 2009, when a similar study was conducted, the leading element missing from the experience was also a quick and easy transaction (25%), followed by a fair trade-in value (19%), a trustworthy salesperson (15%), and low, fair pricing (13%).

 

 

Financing Relatively Unimportant

Just 13% of women felt that a reasonable finance rate was most lacking from their car-buying experience, unchanged from 2009. However, women residing in the South (17%) and West (15%) appeared far more likely than those in the Northeast (6%) to cite this as a missing element of their experience.

 

 

About the Data: The Ipsos poll concerning car-buying factors was conducted October 6-11, 2011 among a nationally representative sample of 1,001 randomly-selected adults aged 18 and over, who were interviewed by telephone. The poll concerning women’s experiences was conducted online from October 4-11, 2011 among a national sample of 510 women aged 18 and older from Ipsos’ US online panel.

 

 

Source: http://www.marketingcharts.com/

Views: 253

Tags: Buying, Car, Decisions, Factor, Grows, Quality, Top

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Comment by Naomi Park on December 22, 2011 at 1:42am

Same here, I don't expect these results either. Well, anyway if you're really interested of buying a new car, why not try car dealership in California. I heard it's pretty efficient. I also read from an article that dealerships in California are good for working with. Whenever you need anything, mostly an automobile, they will help you. You can try out the Toyota Camry. It sells like insane because it is well-liked. The whole family will enjoy riding in this automobile. It will last for a long time and is very durable. You need to find an excellent dealership in California to help you find the vehicle. To locate a dealership with the vehicle, go to: http://cardealexpert.com/model/21326/2012-Toyota-Camry

Comment by Jeffrey Milne on December 15, 2011 at 5:56pm

I'm not surprised by any of theses numbers. If the household income is over 75k then you have the choice to choose quality over price. I'll probably get tarred for this but I still feel in many dealerships women are not shown the respect they deserve and many salespeople don't understand that women are making about 55% of the buying decisions. Of course they want it streamlined; they walk in and are too often into the tedious process of haggling, bringing the deal back to the desk, and participating in the archaic process of buying a car. They have already been to Edmunds and KBB, they know roughly what the car they are trading is worth as well as the value of the car they are buying, and would really love to just get to the brass tacks and be done with it. No wonder that True Car is causing headaches; most people want out of the old school process that some dealers still adhere too. I don't like them a bit but when you get a salesperson asking repeatedly "well if I can get you that number would you but it today..." and the number is off the charts, what can we expect?

Comment by Ray McGowan on December 15, 2011 at 5:39pm

With the looks from the surveys, we might want to invest in the people presenting the product.  Day after day there are salespeople that will be "allowed" to take shortcuts and not present, demonstrate and sell the value the product has to offer.  There are many "quality" products on the market, but the steps to present the benefits should not be skipped.  Take for example a customer comparing a Toyota Camry to a Nissan Altima (which are two comparable vehicles). If a salesperson selling the Toyota skips the demo and the presentation and directly sells price, there is no reason for the customer to witness the value of the car.  When the same customer visits the Nissan dealership, another salesperson completes a presentation and demonstration, sells the features and benefits of the Altima and the customer makes the purchase.  And, the customer pays a higher price.  The surveys are a reflection that people have the desire to have quality products and qualified people to present them.  The value people perceive makes price a non issue.

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