Yesterday, Think Insurance, the specialist motor trader insurance provider, brought to you the news that Tesco had launched their latest venture, Tescocars.com. Unsurprisingly it has caused a stir in the used car industry, but concerned motor traders might be reassured by the latest survey results, released today by Manheim Auctions.
The survey has revealed that a massive two thirds of motorist would not be happy to purchase a car online. Most motorists admit to spending a whopping 18 hours online researching their next car purchase, but the majority wouldn’t go as far as to hand over the money without some sort of face to face interaction and seeing the car in person. The survey, which polled 3,000 people also revealed that 25% of motorists would go as far as agreeing the price on line, but still wouldn’t close the deal without seeing the car themselves.
Marketing Director at Manheim Auctions, Craig Mailey explains “There is no question that the internet has become the primary research tool for motorists looking for a car. But when it comes to actually buying online, without seeing the vehicle first, consumers are just not ready to take the plunge”. He goes on to comment that despite the rising number of used car websites it would seem that motorists just do not have the confidence to make such a large and important purchase online.
Think Insurance are sure motor traders will take some comfort from the findings of Manheim’s survey. While the internet is without doubt an important tool for all car dealers, it would seem even the world wide web can’t replace the car forecourt and the good old test drive!