Automotive Archives | Page 4 of 15

AutoTrader Price Index: September 2023

Leave a Comment / Article / Milan Brankovic

After a very strong few quarters, we are observing a slight decline in used car demand since the beginning of Q3 in July. This, coupled with increased inventory volumes, has manifested itself with three consecutive month-over-month declines in used car prices. On the other hand, although the new car supply is at its highest level

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Combating Economic Impacts on the 2023 Car Shopper Journey

Leave a Comment / Article / Milan Brankovic

As the car shopping journey continues to be impacted by various economic factors, being informed of these dynamics is essential to addressing consumer needs and offering timely support across the various stages of the purchase process. By understanding the factors that impact car purchasing decisions, you can adapt your strategy to reach even more prospects

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Overcoming Car Buyer Hesitancy in a Period of High Prices & Increased Interest Rates

Leave a Comment / Article / Milan Brankovic

Canadian car shopper confidence has been increasing steadily, with purchase intentions continuing to rise since last year. But the car shopping journey and purchase process can still present certain challenges for buyers, and dealership operators who have an acute understanding of the drivers behind consumer hesitancy, will be well-equipped to help shoppers navigate purchase and

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AutoTrader Carology Bitesize: June 2023 Price Index

Leave a Comment / Video / Milan Brankovic

Canadian automotive dealerships looking to keep pace with market trends should keep a pulse on industry dynamics. In this AutoTrader Carology Bitesize episode, we are joined by Baris Akyurek, Vice President of Insights & Intelligence at AutoTrader.ca, to provide an update used and new vehicle pricing trends, the current state of the automotive industry, consumer

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AutoTrader Price Index: June 2023

Leave a Comment / Article / Milan Brankovic

Since the start of the year, the automotive industry has demonstrated impressive resilience, driven by strong consumer demand. Coupled with lower than usual inventory levels, this has yet again resulted in increased prices for both new and used vehicles compared to the previous year. In June 2023, the average price of a used vehicle remained

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Intentions to Buy a Vehicle in the Next 6 Months

The 411 of Economic Impacts on Vehicle Purchase Intent

Leave a Comment / Consumer Insights / Milan Brankovic

With economic uncertainty top of mind for both car shoppers and dealers, we sought out to understand where consumers currently stand regarding the economy and their vehicle purchase intentions. Dealership operators well apprised of consumer outlook as well as the concerns of consumers shopping for a car have an opportunity to tailor the consumer experience

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AutoTrader Carology Bitesize: Electric Vehicles (EV)

Leave a Comment / Consumer Insights, Video / Milan Brankovic

The automotive industry is experiencing rapid advancements, particularly in the realm of Electric Vehicles (EVs). As consumer interest in EVs continues to evolve, it’s crucial for dealerships to remain informed about the latest trends. In this AutoTrader Carology Bitesize episode, we are joined by Tiffany Ding, Director of Insights & Intelligence at AutoTrader.ca, to uncover

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AutoTrader Price Index – March 2023

Leave a Comment / Article / Milan Brankovic

Since the start of this year, the automotive market has shown remarkable strength with robust demand leading to higher prices for both new and used vehicles compared to the previous year. The average price of a used vehicle in March 2023 remained stable compared to last month, hovering just around $39k, a 5% year-over-year increase.

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AutoTrader Carology Bitesize – First Time Car Buyers

Leave a Comment / Consumer Insights, Video / Milan Brankovic

Both experienced as well as first-time car buyers look to answer two key questions when embarking on a vehicle purchase: does it meet their needs and is the price compelling? However, the journey first-time buyers take to get to their final purchase decision can vary immensely from those with more experience. Understanding their habits and

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First Time Buyers Information Sources Used

Everything You Need to Know About the First Time Car Buyer

Leave a Comment / Article, Consumer Insights / Milan Brankovic

Car buyers divide neatly into two camps: those who have purchased before and those who have not (yet). Both groups are looking for the right vehicle at an attractive price, but the experienced car buyer and the first-time car buyer can have completely different ways of approaching their path to purchase. By understanding the nuances

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