Top 10 vehicle features in-market shoppers want
TrueCar’s Automotive Shopper Trends Report (ASTR) — what the company said is a comprehensive look into auto shopper actions and expectations — highlighted the Top 10 most important features in-market shoppers now want.
Combining nationwide survey results with data from TrueCar’s platform, the ASTR uncovers insights from the past six months on automotive trends for both consumers and dealers.
What do shoppers looking over your inventory want? TrueCar said the Top 10 vehicle features sought by potential buyers include:
1. Reliability: How well a vehicle holds up and the odds that an owner could be inconvenienced by problems and repairs.
2. Fuel efficiency: Miles per gallon while running on gas engine and MPGe for hybrid and electric vehicles.
3. Engine: Includes all aspects of the engine such as size, configuration and aspiration.
4. Safety rating: The five-star rating program that evaluates how vehicles perform in crash test.
5. Drivetrain: Determines how engine power is delivered to the wheels and impacts the vehicle’s transaction, fuel economy and handling.
6. Automatic emergency braking: A safety system that identifies when a possible collision is about to occur and responds by autonomously activating the brakes to slow a vehicle prior to impact.
7. Basic warranty: If there is a warranty included and the length of time covered.
8. Amount of horsepower: The power an engine produces.
9. Blind-spot monitoring system: A set of sensors to detect vehicles in adjacent lanes.
10. 360-degree camera / surround-view camera: A camera system that combines perspectives of several video cameras around the vehicle into one image, providing a real-time view of the area surrounding the vehicle.
Amid macroeconomic challenges such as supply-chain disruptions, consumers faced limitations on which vehicles they can purchase, when they can purchase them, and how they can purchase them.
Here are a few highlights from the report:
—Nearly a quarter of in-market shoppers have switched and have purchased something they never even considered at the beginning of their shopping journey.
—Record-high gas prices during the summer increased demand for electric vehicles (EVs), as TrueCar saw a 120% increase in EV prospects year-over-year during the first half of 2022.
—62% of car buyers want to be able to complete as much of the purchasing process online as possible, demonstrating continued interest in online shopping.
—Shoppers are increasingly opting for practicality over flashiness by having a stronger preference for features related to performance rather than appearance.
“The automotive industry has been in a state of perpetual change for the past few years, presenting new challenges for dealers and consumers alike,” TrueCar president and CEO Mike Darrow said in a news release. “This report highlights how the industry adapted to those changes, and we’ve been able to leverage those insights to help our dealer partners navigate this evolving landscape.”
TrueCar’s full report includes deeper car-buying actions and expectations such as brand preferences, growth in EV demand, purchasing habits, top-selling features in today’s vehicles, and the used-car market.
To download the Automotive Shoppers Trends Report, go to this website.