Price remains the most important factor for car buyers, according to motor dealers, with 77% of customers prioritising cost when purchasing. This insight comes from the latest Forecourt Foresight research conducted by Close Brothers Motor Finance.
The study, which surveyed motor dealers on their customers’ purchasing considerations, highlighted notable gender differences. Men are more likely than women to prioritise price when choosing a vehicle, with 46% of men citing it as their top concern, compared to 31% of women.
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Beyond price
Beyond price, men also focus heavily on a vehicle’s MOT and service history, with 74% considering it a crucial factor. In contrast, women place greater emphasis on car attributes (57%) and insurance costs (41%). The latter is becoming increasingly significant as insurance premiums hit record highs in the first quarter of this year.
Women also show more concern than men regarding road tax (35% vs 21%) and fuel costs (19% vs 11%). Additionally, 12% of women consider the environmental impact of a vehicle a top-three concern, a factor not ranked as highly by men.
Lisa Watson, Director of Sales at Close Brothers Motor Finance, said: “Naturally, price is the key consideration for prospective car owners. We know that pockets are pinched at the moment and drivers need to do as much as they can to ease the growing cost of motoring.
“But our latest Forecourt Foresight research reminds us that considerations go beyond price, and dealers see marked differences in how men and women weigh up their options before making a decision on purchases.
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By GlobalData"It’s vital that dealers utilise the tools and insights at their disposal to understand the various points of differentiation for men and women in terms of purchasing priorities. Doing so will ensure their forecourts are best stocked to meet the demands of their customers and at the same time maximise their profitability.”
