A staggering 80% of new car and almost 100% of used car customers begin their car shopping experience online, enabling buyers to find their dream car at any hour of the day. Carmudi analyzed millions of visits to the company’s car classifieds website, and the data shows that car buyers around the world, including Pakistan are predominantly searching for cars late at night.
Late night car searches is a growing trend with more than 40% of global car buyers now searching for cars between five p.m and midnight. With ecommerce booming, and increasing use of mobile phones to make purchases online, how we buy major goods is shifting. Traditionally, consumers bought a car after visiting several dealers and test driving dozens of vehicles. With the average car dealer closing by 6pm, car buyers are now able to save valuable time by researching car brands, and shopping for the best price from the comfort of their own home. From arranging test drives to applying for financing, the majority of the purchasing cycle takes place online. Dealers continue to play a vital role in the process, particularly when it comes to test driving.
When Kojo Mensah, a car buyer in Ghana found out he was adding a new member to the family, he decided it was time to purchase a larger car. With both him and his wife working full time and two young kids at home, going from dealer to dealer was not an option. Kojo joined the growing number of car buyers researching vehicles through the Carmudi app. Last month, he picked out a Nissan Navara LE 2013 and quickly got in touch with a dealer in Accra to set up a test drive. Within 48 hours Kojo bought his Navara LE for a competitive price.
Another insight gleaned from the Carmudi data shows that car consumers are transitioning from searching for vehicles on a desktop, to using mobile apps, most notably in the evening hours. During working hours, only 15% of consumers visit Carmudi via the mobile app, but from 6pm to midnight more than 55% of visitors search for cars on their mobile app, as opposed to their computer.
The car buying experience has remained stagnant for decades, but in the world of AMAZON and UBER, the car classifieds market is ripe for disruption, starting with the ability to find your dream car at midnight from the comfort of your own couch.
