Used-car cross-shopping is climbing
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SAN FRANCISCO –
With a record number of off-lease vehicles elevating supply, used-car interest continues to grow, according to newly released car shopper interest data from Jumpstart Automotive Media.
The number of people cross-shopping used is climbing. Used cross-shopping is up 19 percent across Jumpstart, according to the company’s eighth annual Industry Trends and Insights book.
Interestingly, the luxury category saw the most cross-shopping, where year-over-year cross-shopping between new and used vehicles is up 36 percent.
This illustrates growing appeal among both new and luxury shoppers.
Compared to last year, the midsize sedan segment shows a 15-percent increase in used cross-shopping. In comparison, interest in used-midsize luxury sedans is up 35 percent.
Additionally, while used shoppers are researching cars 50 percent more than SUVs, cross-shopping for used SUVs/CUVs is still up 19 percent from last year.
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While the two fastest-growing SUV/CUV segments with significant increases in used cross-shopping are compact luxury and subcompact, non-luxury large and midsize SUVs/CUVs are the top two most cross-shopped used SUV/CUV segments.
When it comes to pickup truck interest, beating out one-ton and full-size pickup trucks — consideration for the midsize pickup segment among used is up 28 percent.
Additionally, this year the survey asked participants to name the top three most important shopping tools.
Used shoppers named vehicle history, used-car values and finance options. Similarly, certified pre-owned shoppers listed vehicle history, search local inventory and used car values.
Meanwhile, new shoppers named search local inventory, expert car reviews and detailed car specs as their top car shopping tools.
Jumpstart said this year it surveyed 1,143 car shoppers across its 13 automotive websites.