Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

The car test drive is alive and kicking… despite 1 in 10 saying they won’t bother

The car test drive is alive and kicking… despite 1 in 10 saying they won’t bother
  • Rise in electric vehicles on the market will only fuel test-drive demand

The car test drive is far from dead, despite 1 in 10 consumers saying they will buy without trying, according to research by the What Car? New Car Buying service.

Analysis of 8,500 consumers ‘in the market’ for a new car found that 45% intend to test drive more cars this time compared with the last time they bought.

On average, the data suggests that buyers plan to test at least two cars – although nearly a fifth said they expect to get behind the wheel of upwards of five different models.

What Car? expects the rise in choice and popularity of electric vehicles over the next few years will only serve to fuel this trend. “Driving an EV or hybrid will be a new experience for millions of drivers and they will want to understand what they are buying,” said Steve Huntingford, editor of What Car?.

“As a result, we predict a surge in demand for test drives, but with it dealers and manufacturers need to ensure the experience of the test drive itself fits the customer.”

For some, the purpose of the test drive is nothing more than validating the choice they’ve made which is why nearly a fifth (23%) admit they plan to arrange only one test drive.

Yet for one in 10, the test-drive is deemed completely irrelevant as they will buy without trying their next car at all.

Huntingford said: “For this buyer, they’ve done their research, they’ve validated their decision with friends and family, and they’re comfortable enough with the monthly payments to simply place an order blind.”

Studies by What Car? show that 62% of buyers still find contact with dealers difficult and that the test drive experience is usually the most vocal complaint.

“The unpressured test drives at shopping centres win hands down over the traditional dealer experience,” explained Huntingford. “Consumers tell us they want convenience but, above all, they want to test their fears of choosing one model over another… can I fit my three kids across the back seat, can I park it easily, can I drive an automatic?”

This demand is already being met by some, with manufacturers such as Volvo and BMW offering 24 and 48-hour test drives, and Seat and DS providing a less pressured retail experience at Westfield shopping centre.

The What Car? New Car Buying service has more than 90,000 discounted new car deals and allows car buyers to compare these with the What Car? Target Price, which is the most buyers should pay for their new car.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post