Whilst the majority of dealers have moved to an 'appointment-only' model during this current set of lockdown restrictions - many have taken to increasing their online presence. This means, platforms like Classic Trade have seen an increase in demand from traders both buying and selling online during this time. But we're not the only ones seeing a rise in traffic! The general public looking to buy a car have also become more receptive to the digital-jump taken by the majority of dealers. Find out more below and how utilising online platforms could help your business profit during these otherwise, difficult times!
A study conducted by 'What Car?' discovered that a third of 5,524 participants who were conducting research for their next car purchase - said they're open to using live video tours and live chats to find their next car. The survey showed that 29.74% of those involved in the study were happier at the idea of buying a car now rather than back during March lockdown. With 876 people actively looking to still buy a car within the next few weeks of restrictions. Normal levels at this time of year (as reported by What Car?) are around the 20% mark, whereas 876, represents around 16% - which still shows, as stated by What Car? "Strong levels of buyer intent" in the market place.
Rachael Prasher, managing director, at What Car? was quoted as saying: “Although the month of October saw new car registrations down by just 1.6%, according to the Society of Motor Manufacturers, there has been genuine concern over how the market will react to England-wide lockdown. Our research suggests most in-market buyers are still in the market for a vehicle and haven’t been put off by the new restrictions. This has been helped by the growing uptake and reception towards live video tours and online buying, which will help dealers through the month-long closure.”
So whilst figures might be slightly down on the national average that you'd find in any given November, through the use of online tools such as: video tours, live chat and even virtual reality in some cases! Dealers are finding ways to keep tapping into the market, which the study shows is still (despite being slightly reduced) ever present, in spite of current restrictions.
Through the use of digital platforms such as ours, you expand your shop window to a wider audience online. Whilst also being able to dual-list your stock, so you never miss a potential retail opportunity with a private buyer. Now is the time to increase your online presence and it starts by introducing some of the features mentioned above and (if you haven't already), signing up to our FREE to register trade-only platform for buying and selling classic and performance cars online.
Figures in this article have been collated from a study conducted by: What Car?