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Infographic: Start Your Engines The Resurgence of Car Shopping in the US

Jan 18, 2024 3:07:06 PM / by Inspira Marketing

After years of pent-up demand, car shopping is back. According to Mintel, 40% of US consumers are looking to purchase a new vehicle in the next year.1 Although S&P Global Mobility reports that brand loyalty is on a rebound since it’s 8-year low in 2022, a recent Cars.com survey found that 75% of its website users said they were undecided on a make or model, signaling an opportunity for brands to gain new consumers.2 In our latest infographic, we explore which brands remain top-of-mind for consumers, the electric vehicle landscape, and key digital shopping habits.


Start Your Engines Infographic

 

Start Your Engines
The Resurgence of Car Shopping in the U.S.

After years of pent-up demand, car shopping is back. According to Mintel, 40% of US consumers are looking to purchase a new vehicle in the next year.1 Although S&P Global Mobility reports that brand loyalty is on a rebound since it’s 8-year low in 2022, a recent Cars.com survey found that 75% of its website users said they were undecided on a make or model, signaling an opportunity for brands to gain new consumers.2 In our latest infographic, we explore which brands remain top-of-mind for consumers, the electric vehicle landscape, and key digital shopping habits.

 

The Reviews Are In…

According to Cars.com data, these are the best-reviewed brands on the site.

  1. Mazda
  2. Subaru
  3. Acura
  4. Lexus
  5. Volvo

 

Loyalty Study Reveals Consumers’ Favorite Luxury and Mass Brands

Luxury Auto                     

Porsche                            

Mercedes-Benz

Luxury SUV

Volvo

BMW

Mass Auto                     

Toyota                            

Honda

Mass SUV                     

Subaru                            

Toyota 

Mass Truck

Ford

Toyota

Toyota is the only brand consumers claim loyalty to across all mass categories.

 

Consumers are Plugged into the EV Market

According to car shopping website Edmunds, the electric vehicle market share is expected to rise slightly, to claim 8% of the new vehicle market.3

 

Tesla Takes First Place in EV Sales

While X (formerly Twitter) may be struggling, Musk’s Tesla leads in the EV marketplace.4

10 Best-Selling Electric Vehicles by Model

  1. Tesla Model Y
  2. Tesla Model 3
  3. Ford Mustang Mach-E
  4. Tesla Model X
  5. Tesla Model S
  6. Chevy Bolt EUV
  7. Hyundai Ioniq 5
  8. Kia EV6
  9. Volkswagen ID.4
  10. Rivian R1T

 

Digital Road to Auto Purchase Accelerating

Although the auto buying experience may originate online, when spending on a new or pre-owned vehicle, most shoppers still want to see, touch, and experience it in real life.

KEY FACT: While 95% of vehicle buyers use digital as a source of information, only 29% of all car shoppers want to buy their car entirely online.

 

SOURCES:

Mintel Vehicle Financing US 2023

S&P Global Mobility, US Top 10 Industry Trends, December 2023

JD Power Brand Loyalty Study 2023

Reuters US Report: New Vehicle Sales Rise 2024

10 Best Selling Electric Cars of 2023

Autotrader How Online Car Buying Will Look in the Future

 

Topics: Infographics

Inspira Marketing

Written by Inspira Marketing