Buying a Car - Why your Friends

BUYING A CAR WHY YOUR FRIENDS & FAMILY'S OPINIONS MATTER IN THE SOCIAL MEDIA AGE BY THE YEAR 2016 NEW CAR USED CAR SALES ARE SALES ARE EXPECTED TO DROP 10% EXPECTED TO RISE 9% "Consumers are now more cautious when buying a car and want to ensure they are getting the best value for money in these tough economic times" of fuel in cost 125 BRENT CRUDE OIL SPOT $/BARREL 140.2p 120 per litre 115 rinsurance 110 40% 105 JAN 12 FEB MAR APR CAR RESEARCH IS STRESSFUL Buying a car can be a daunting and time-consuming process. 3 OUT OF 4 PEOPLE SPEND 3-4 MONTHS RESEARCHING THAT'S BETWEEN 13-18 WEEKS, 90-120 DAYS OR 2160-2880 HOURS! 39% of people research more only around than 5 cars at a time 26% of people find the car buying process interesting and fun 62% of people have not yet decided the make or model of their new car There is clearly a huge demand for car related information in order for the consumer to make a better, more accurate purchase decision WHERE DO PEOPLE RESEARCH CARS? 90% of consumers in 2010 used the internet to research a vehicle, this was a considerable rise from 61% in 2005 78% of car buyers use the internet throughout the purchasing process PEOPLE UPDATE ANYTIME, ANYWHERE Social media tools have empowered more and more people to voice their opinions, offer advice and provide information. f 800+ MILLION USERS 1 in every 13 people on earth with 35 million users updating daily 465+ MILLION USERS 175 Million Tweets are sent each day 7.9 MILLION MOBILE USERS access social media sites almost every day 70% 90% of internet users trust online consumer of internet consumers opinions trust recommendations 44% from people they know 65% of potential car buyers value personal opinions are interested in owner reviews for a better understanding of a car Opinion of friends, relatives, acquaintances 44 Independent research e.g. online blogs 37 Visits to dealerships/speak to salesperson 35 Car manufacturer websites i.e. toyota.com 30 23 Car magazine websites Third party website i.e. webuyanycar.com 17 13 Newspaper Online Classifieds 12 Dealership branded website Women fail to be impressed by the internet revolution. They are more likely to rely on family and friends than any other resource when it comes to buying a car. For real opinions, from real people, in real-time head over to carhoots.com, a social review and marketplace for car buyers and sellers that puts the fun back into buying a car. CARHOOTS.COM The social way to research, buy and sell a car. Sources • Petrol prices hit another record high http://www.bbc.co.uk/news/business-17490088 • Internet Google/NetRatings - 'Gearshift III (October 2009) • Mintel Automotive Report 2011, Car Retailing-UK-August 2011 • Insurance Premium Index: http://www.theaa.com/services/insuranceandfinance/insuranceindex/ • Mintel Automotive Report, Use of Internet in Car Buying UK, May 2011 • Side 22 - "Auto Trader Consumer Surveys 2010" http://www.docstoc.com/docs/93340655/Introducing-Auto-Trader-New-Car-Tom-White-Head-of-New-Product • Global Web Index – Welcome to social entertainment, Annual Report'. (2011) • http://www.agentmedia.co.uk/social-media/100-more-social-media-statistics-for-2012/ • http://newsroom.fb.com/content/default.aspx?NewsAreald=22 •http://mashable.com/2011/01/12/obsessed-with-facebook-infographic/ • Com Score Data Mine- http://www.comscoredatamine.com/2011/05/mobile-social-media-usage-up-80-percent-in-the-uk/ • SMMT – 'New Car Registrations Report 2010' (January 7 2011) March 2012 ƏBejƏN Average premium rose by In 2011 the averagec