Since our last COVID-19 Pulse update in the first half of this year, we’ve witnessed the easement of many local and provincial government restrictions across the country, coupled with widespread vaccine rollout and more effective therapeutics, resulting in a highly anticipated return to a pre-pandemic way of life. As a result of these improvements, it should come as no surprise that the pandemic is currently lessening its initial impact on any delay in consumerism as it relates to vehicle purchase intentions.
In October 2021 we turned to in market Canadian car shoppers to refresh our understanding of how their purchase behaviour has shaped up or shifted over the year. Staying relatively in line with our previous observations, 18% of consumers intend to purchase a vehicle at some point within the next 6 months. At the start of the pandemic, 72% of shoppers said that they would take more time than usual to make their vehicle purchase, whereas today this has dramatically decreased to 36%. In this latest round of consumer research, 61% of respondents said that COVID-19 will not affect their time to purchase their next car.