IRVINE, Calif. -
As new-vehicle shoppers these days tend to be very financially conscious, searching patiently and thoroughly for the best deals, understanding this current behavior can give automakers a “golden opportunity” to to reach these thrifty consumers with end-of-year marketing, said James Bell, executive market analyst for Kelley Blue Book’s Kbb.com.
Specifically, 72 percent of new-car shoppers claim they won’t decide on their purchase until they find the “right deal,” according to a study from Kelley Blue Book Market Intelligence.
Not to mention, more than two-fifths (43 percent) of new-vehicle shoppers said they haven’t made up their minds about their purchase or lease because they haven’t made their final choice as to the exact vehicle they’re going after, the study indicated
“The latest data from Kelley Blue Book Market Intelligence shows that new-car shoppers are very financially driven right now, waiting to buy a new car until they find the right deal and even remaining undecided on which make and model they want to purchase until the deal is right,” Bell noted. 
“This insight presents a golden opportunity for automakers to tailor their end-of-year marketing plans toward reaching these undecided, deal-driven new-car shoppers, and to increase their market share as we enter into 2011,” he added.
Moreover, during the last year, 52 percent of consumers browsing for a new ride have put off buying. The proportion of this crowd that has already held off at least seven months is at 41 percent. And more than a third (36 percent) said their delay time has reached between four and six months.
More than a quarter (27 percent) said they’ve adjusted their criteria during the shopping process. In that particular crowd, 28 percent have shifted from one vehicle segment to another.
Continuing on, KBB also shared some of the reasons shoppers indicated for their purchasing desire.
A third of shoppers claimed “I just want a different vehicle,” and this was the top reason. Twenty-nine percent indicated that “My current vehicle is old,” and almost a fourth (22 percent) said their reasoning was “My current vehicle has high mileage.”
Meanwhile, a fifth claimed “My current vehicle doesn’t meet my needs,” and 14 percent said “I want better fuel economy.”
When they do buy a new vehicle, consumers said they plan to hold onto it for an average length of eight years.
Moving along, KBB delved into consumer behavior trends when it comes to maintenance and repair. More than a quarter (26 percent) claimed their economic circumstance has led them to put off getting maintenance or repair work done on their ride.
KBB said half of those respondents claimed they have put off cosmetic work, preventive maintenance, changing their oil and rotating their tires.
What’s more, the study found that more than a third (38 percent) claimed their economic circumstances have led them to put off taking their ride in for mechanical repairs.
“In the automotive segment, the Internet is less of an e-commerce engine and more of an influencing medium,” Bell shared.
“More and more consumers are looking to sites like Kbb.com to help them make a decision on which deals are best and which car to buy. Clearly, undecided shoppers waiting for great deals are ripe to be swayed by just the right manufacturer or dealer message to close a deal today,” he concluded.