How you buy cars
Yahoo stats reveal Gulf car buying habits and (no surprise to us) online emerges as the dominant resource for car-buyers
By Shahzad Sheikh
Online giant Yahoo has been doing some research into car-buying habits in the Gulf region and corroborates what we’ve been telling the industry for the last three years – ‘online dominates as the destination for auto content/info,’ and is one of the very key sources of information car buyers use to help them make informed decisions about their next car purchase.
Online is key to car buying
The research conducted mostly in the UAE and KSA revealed that online media is used by 54% of car purchasers – more than TV, newspaper, magazines and radio (although we do seem to get a lot of car-buying questions on our show with James Piecowye on Monday nights – Dubai Radio 2, 103.8FM CarTalk from 9pm).
Buyers are ‘almost four times likely to go online for information versus TV,’ and they search for pictures, road tests and reviews, as well as news and financing information. As many as 70%, amongst all age groups, regularly share automotive content online.
You love buying new cars
Another fact revealed in the report that specifically looked into how you buy cars, was that we still love cars in the Gulf – praise the Lord! 42% of households own two cars or more and 15% of households own three cars or more. Even in single person households it was found that 14% owned more than one car.
We’re serial buyers too – two-thirds of those who bought a car in the last six months are already planning to buy another within the next six months! We seem to really like new cars too – 40% of car purchases were made in the last six months, and 82% were made in the last two years.
As many as 78% are planning to buy another car within the next 24 months – a crucial audience for car makers and dealers. Car purchases are not always just to replace existing transport either – 21% of new car purchases are just to add an additional car to the collection!
What affects car buying choices?
Women! Yahoo’s figure for the UAE, perhaps somewhat surprisingly, tallies with a US survey, and reveals that women play a major role in the decision making process: ‘81% have an equal or sole say in auto purchase’. This backs up my recent column – click here to read.
Men are revealed to be slightly more likely to buy off-road/SUV style cars (64%) and used cars (61%) than women.
Of course having children also has a big impact on choosing a car – sports cars are less prevalent among parents with 4-14 year olds and 65% of households with kids are likely to own a family car, whilst 63% of families are more likely to own an off-road/SUV style vehicle. On the other hand 61% of singles are more likely to own a sports car.
We like the finer things in life – as the ‘majority of people are looking to trade up, moving from smaller to more luxury cars,’ with a quarter of buyers aspiring to a more luxurious car.
Younger buyers (18-24) love to customise their cars (60%) and opt for cars as part of a leisure-lifestyle statement (52%).
Obviously the older you get, the more sensible. In the 45+ age bracket, 82% say after sales service is important, 90% are looking for reliability and, unsurprisingly given the state of driving and accidents on the region’s roads, 92% put safety as a priority.
