June 16 2021 – CarNext, a pan-European marketplace for high-quality used cars has launched its first CarNext Mobility Insights Report, revealing a renewed enthusiasm for car ownership, as well as growing trust in online used car purchases, as consumers try to navigate their way in the new normal.
The key conclusions of the first edition of the CarNext Mobility Insights Report are:
- Car ownership has gained considerable popularity in the last year, with 73% of those surveyed claiming they also expect to continue driving more after the pandemic. The number of consumers considering the car to be their main mode of transport has risen to 84% (up from 64% prior to the pandemic). 50% of respondents state they are more in favour of owning a car today compared to before the pandemic, against just 12% who are less in favour.
- There is a rise in popularity for used cars, with 64 % of respondents surveyed either purchasing or considering purchasing a used car in the last 12 months, rising to 75% among millennials (24-35). Nearly half of those surveyed (48%) shared that they are more likely to buy a used car today than five years ago. 74% of these confirming this is because of the ability to find higher quality used cars in the market.
- Environmental awareness also driving demand for used cars: 84% of participants consider environmental impact to be important when buying a used car, 64% stating that they have become more sustainability conscious since the start of the pandemic. 79% take this a step further and say that this will grow even more in relevance in the coming years.
- Rise in consumer trust in e-commerce as a sales channel for used cars: More than half claim that they would consider buying a car online, primarily due to the convenience (57%) and because they have got used to making most of their purchases online over the last year (52%). With regards to the age of the cars they are prepared to buy, 75% would rather purchase a vehicle that is less than five years old.
Maarten van Neerven, CFO CarNext, commenting on the report, said, “There is a renewed enthusiasm for car ownership and driving in the new normal, with 1 in 2 respondents stating they now prefer to own a car because of the pandemic. The CarNext Mobility Insights Report reveals a wide range of factors that influence the progress of the used car market along with increased customer enthusiasm for online car buying. This is in part a reflection of the general growth of e-commerce but also of greater trust in the reliability of platforms such as CarNext. Looking ahead, the growing importance of reusability among consumers provides CarNext with a huge opportunity as a growing number turn to affordable high-quality used cars to fit their mobility needs for the future.”
If you want to see the full CarNext Mobility Insights Report click here.