PORTLAND, Ore. - Chrome Systems Inc. has announced the results of the 2010 Chrome Consumer Survey, which highlights significant shifts in the way consumers are researching and purchasing vehicles in 2010 compared to the previous year. Among the survey's key findings were:
Necessity has become the primary driver for vehicle purchases. In what may be a sign of the economy's continued softness, fewer respondents said they purchased or leased a vehicle simply because they wanted something new (21 percent in 2010, down from 32 percent in 2009). The number one reason cited for purchasing or leasing a new vehicle was the current vehicle being unreliable or broken down (26 percent, up from 19 percent in 2009).
Vehicle availability influences consumers' choice of dealerships. 20 percent of respondents chose a dealer based on specific online inventory listings, up from 15 percent last year. Dealer loyalty is eroding, as only 24 percent said they selected a dealer because they or someone they knew had previously purchased or leased from that dealer, down from 37 percent in 2009.
Brand loyalty is diminishing. Compared to 2009, consumers are less likely to want to purchase the same brand of car they previously owned (35 percent in 2010 versus 39 percent last year).
More than four out of five car-buyers shop online first. 83% of respondents said they were likely to shop for a vehicle online before making a purchasing or leasing decision. Among those researching vehicles on OEM and dealer websites, price and preferred equipment selection was cited as the leading factor in purchase decisions.
Concerns about fuel economy have waned with the stabilization of gas prices. While fuel economy is critical to about half the consumers, (54 percent, down from 60% in 2009), vehicle price (74 percent), body style (68 percent) and overall appearance and styling (59 percent) rank higher as must-have features.
