Research Released by CARPROOF Provides New Insight into Used Vehicle Path to Purchase
LONDON, ON, June 23, 2016 – CARPROOF has released the findings of its first research study, Into the Minds of Consumers, providing ground-breaking insights about the used vehicle path to purchase.
Technology is changing the way used vehicle buyers shop, and with this in mind, CARPROOF embarked on a study to examine how used vehicle buyers go from recognizing they need a vehicle and deciding where to get it, to closing the deal and driving off the lot. Into the Minds of Consumers takes a fresh look at the used car purchase process, in an effort to help the Canadian automotive industry better understand why consumers are looking for a used car, where they are looking, and the best strategies to reach them.
CARPROOF research has discovered two key paths to purchase for today’s used vehicle buyers. First, there are Car-hunters, buyers who go straight to the internet and focus on finding the perfect vehicle without considering which dealership they will buy it from. Second, there are Dealer-deciders, used vehicle buyers who seek advice from their friends and family to find a dealership with a great reputation, so they can shop there for their next vehicle.
The study gives Canadian automotive dealers an enhanced understanding of where Car-hunters and Dealer-deciders are shopping, the most effective ways to attract them, and a view into their behaviour, pain-points and preferences.
“CARPROOF is a data company at its core – we have an extensive amount of unique data that empowers the Canadian used car industry,” says Mark Rousseau, president at CARPROOF. “This particular data-set provides surprising new information about the way used car buyers are shopping, which will be very insightful to dealerships looking to find new customers and build relationships that bring them back for their next purchase.”
The study was released in June to encourage dealer success throughout the summer car-selling season. Into the Minds of Consumers is available at www.carproof.com/insights as a free download.
CARPROOF, a unit of IHS Markit (Nasdaq: INFO), is a world-class data company that creates insight through information for the automotive industry. Offering solutions in vehicle history, appraisal, valuation and more, the CARPROOF name is synonymous with trusted, impartial and comprehensive used vehicle data. CARPROOF’s products are used by dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies across Canada, to help users buy, sell and appraise vehicles with full transparency. Based in London, Ontario and founded in 2000, CARPROOF has been named one of Canada’s 50 Best Managed Companies, and was also honoured with Deloitte’s 2013 Technology Fast 50™ and Fast 500™ awards. For more information about CARPROOF, visit www.carproof.com.
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