by Tanya Gazdik
Source: www.mediapost.com, September 2024
Americans are turning to social media and online stores to shop for their next vehicle, according to a recent study.
Adtaxi released its 2024 Automotive Survey which indicates 45% of Americans express a willingness to purchase their next vehicle through social media platforms. This trust in social media is even more pronounced among recent buyers, with 67% indicating they would consider making their purchase on such platforms while 35% said they would purchase from from car-buying services, and 15% from online marketplaces like CarMax.
In the past year, there has been an increase in purchasers willing to buy a car online, from 49% in 2023 to 57% in 2024.
The survey found that Facebook is the most influential social media platform when it comes to searching for new or leased vehicles, cited by 38% of total respondents and 53% of recent purchasers.
In ranked order, Instagram, YouTube, and TikTok follow. However, these rankings shift when examining specific demographics. Notably, TikTok’s influence nearly triples among adults ages 18-29, illustrating the platform’s growing impact on younger consumers.
When shopping for a new vehicle, 61% of respondents said that reviews and recommendations on social media are most influential.
Following closely behind are advertisements (55%), content from brands or dealerships (45%), and discussions or forums (34%). Only 10% of respondents believe social content would not influence their decision when looking to purchase a car. For recent buyers, the influence of advertisements becomes even more pronounced (67%), ranking ads higher than reviews and recommendations (63%).
Traditionally, car buyers relied heavily on dealership visits, word-of-mouth recommendations, and print advertisements. However, the digital age has revolutionized this process, according to the study.
Currently, 44% of Americans believe that social is the most influential media when it comes to new vehicles, and this jumps to 64% for those who actually made a purchase over the past 12 months.
Almost a third — 31% of consumers — stated they are planning to purchase an SUV in 2024, followed by 24% wanting a hybrid or electric model, and 19% wishing for a pick-up truck. In last place are vans and minivans with 5% of the country intending to buy one.
