CarGurus Study Finds Over Half of Canadian Car Owners Plan to Invest in Electric Vehicles in the Next Ten Years
CarGurus Study Finds Over Half of Canadian Car Owners Plan to Invest in Electric Vehicles in the Next Ten Years Tesla once again atop most trusted EV brand; but most shoppers open to others CAMBRIDGE, Mass., April 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced its latest consumer sentiment research focused on electric vehicles (EVs). The CarGurus Electric Vehicle Sentiment Survey analyzed consumer feedback on an array of EV-related topics, including the future ownership, opinions of EV brands and vehicle styles, and overall purchase preferences. When asked how likely they were to own an electric vehicle, 32% of respondents noted that they were probably or definitely going to do so within the next five years, with this number increasing to 54% within the next ten years. There are still many consumers that would not yet consider owning one, though. In the study,
Ninety-three percent of people looking to buy a car think getting prequalified for a loan would be useful, but only 50 percent of buyers actually did it, a new survey found.
The top frustration for car shoppers was an inability to see monthly payment options when shopping for a car online, well before a dealer gets actively involved.
The study by website CarGurus asked 754 people who either have recently or will soon buy a new car for their thoughts on car financing, and found older (over 45), wealthier ($100,000-plus annual income) men felt the most prepared when it comes to car loans.
If automotive dealerships want to keep up with the changing ways Americans are buying cars, they might do well to make customer financing options clear and simple to understand. Because as it stands,
Tesla was the only car brand to increase its value.
Just three automakers made it to the top 100 brands in market researcher Kantar’s latest 2020 BrandZ Top 100 Most Valuable Brands study. Toyota, ranked 48th overall, still remains the world’s most valuable car brand despite losing approximately 3 percent of its value compared to 2019.
Mercedes-Benz is the second most valuable brand in the automotive industry according to the study, placing 56th overall, followed by BMW at 61st position, losing 9 and 12 percent respectively. Ford and Honda dropped off the top 100 list after losing 10 and 15 percent of their values compared to 2019.
The Results From 2018 And 2019:
“Since 2008, the car sector has declined in value and has never recovered,” Global BrandZ Strategy Director, Graham Staplehurst, told Automotive News. “It’s very different from other sectors. For example, the luxury sector