EV Shopping and Buying Survey

Audience:

This data was collected from a survey that consumers were asked to complete after submitting a lead for a new vehicle. 

The Meta Display Ads these consumers initially responded to were predominantly non-branded and aimed at helping a shopper receive pricing and dealership contact. The consumers were directed to a content asset where they received further information before submitting a request for contact. 

The Advertising Campaigns that generated these leads have a strong history of generating consumers who buy any new vehicle—14.53% within 90-days of lead submission, or buy any used vehicle—10.93% within 90-days. 

This is a strong traffic source - 25.46% bought a car in 90-days. 

Overall Consumer Close Rate (percentage of consumers that purchase a vehicle)

New Car Bought Any: 14.53%

New Car Bought Same Make: 7.97%

Used Car Purchase Any Make: 10.93%

What type of vehicle are you considering purchasing?

New Vehicle: 42%

Undecided: 22%

Used Vehicle: 37%

What are your main reasons for considering a new or used vehicle?

Price: 60%

Latest Features / Technology: 27%

Vehicle History / Certified Pre-Owned Benefits: 27%

Inventory Availability: 20%

Better Finance / Interest Rates: 32%

Would you consider purchasing an Electric Vehicle(EV)?

Yes: 5%

I Need More Information: 11%

No: 84%

Would you consider purchasing a USED Electric Vehicle (EV)?

Yes: 4%

I Need More Information: 9%

No: 87%

If you are considering an EV, what factors influence your decision? (Select all that apply)

Cost Savings on Fuel: 16%

Government Incentives / Tax Benefits: 11%

Performance: 13%

Charging Infrastructure / Convenience: 9%

Range Anxiety Concerns: 12%

Brand / Model Availability: 9%

What is your anticipated timeframe for purchasing a vehicle?

Within the next month: 33%

In 1-3 months: 32%

In 3-6 months: 13%

In 6-12 months: 6%

More than a year: 2%

Unsure at this time: 14%

How important are financing options in your vehicle purchase decision?

Very Important: 65%

Somewhat Important: 11%

Neutral: 9%

Not Very Important: 6%

Not Important at All: 9%

How do you typically research for your vehicle purchase?

Online Reviews and Websites: 69%

Dealership Visits: 50%

Recommendations from Friends / Family: 30%

Social Media and Forums: 18%

Automobile Magazines and Publications: 13%

Audience Age:

18-24: 1.27%

25-34: 5.47%

35-44: 12.00%

45-54: 18.66%

55-64: 27.07%

65+: 35.52%

Audience Gender

Female: 37.88%

Male: 61.37%

Unknown: 0.75%

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About Detroit Trading:

Established in 2004 and headquartered in Metro Detroit, Detroit Trading Company was formed by senior executives from one of the largest automotive lead providers in the nation. 

Detroit Trading Company generates leads and develops technology that powers industry-leading online vehicle shopping sites.  

The consumer leads that flow through Detroit Trading Company represent 35,000 vehicle purchases and $1 billion in automotive sales each month.