Dealers can expect busy end to the year with 46% of in-market buyers set to buy before the year is over

This is the latest report in a series of weekly updates for industry colleagues from Rachael Prasher, managing director of What Car? and Haymarket Automotive. Quoted poll data is from more than 1500 whatcar.com users.

Dealers can expect a busy end to the year, with 46% of in-market buyers telling What Car? that they are planning to purchase a vehicle before the year is over.

As part of our latest industry research, conducted in the second week of November, we asked 1596 in-market buyers whether they were likely to buy a car before the year is over, or to wait until 2022 to make a purchase. Nearly half of new and used buyers (46%) surveyed said they were looking to purchase before the year is over. More than half of all used buyers (52%) said they were going to buy a vehicle this year, and 42% of new car buyers expect to do the same.

The respondents indicated that they are still actively in-market despite the ongoing chip shortage, underlining that new car buyers continue to plan ahead and are ready to fill pipelines for the most proactive dealerships and manufacturers.

Those looking to purchase a fully electric vehicle were the most likely to postpone their purchase until 2022, with 59% stating that they’ll wait until next year to buy one. Petrol and diesel car buyers were most likely to purchase before the year is out, with 53% set to do so.

We also asked those who have postponed a purchase until 2022 when in the year they expect to buy a vehicle, and found 34% set to purchase in the months between January and March, and 23% expecting to buy between March and June. While 14% are looking to buy after June 2022, another 28% told What Car? that they’ve yet to decide when they will buy.
Family SUVs, small SUVs and family cars are the vehicle segments set to be the most in demand next year; the three types accounted for 57% of the responses when buyers were asked what kind of vehicle they expect to purchase in 2022.

The research suggests a busy end to the year, with buyers still active in the market and a relatively steady period of demand for the first three months of the new year. After a tumultuous year that’s been compounded by the ongoing microchip shortage, this should be welcome news to the industry.

For further insight from whatcar.com’s unique website data, please contact claire.groves@haymarket.com