Before the turn of the millennium, selling cars was simple. Consumers can be easily reached via TV, radio and print advertisements. This went on for another decade before the process took a more complex turn, thanks to mobile devices.
About 75 percent of Malaysians (roughly 24 million individuals) have 3.1 mobile devices (!) per person, changing the way we communicate, shop and entertain ourselves. A study by Google-TNS revealed that 86 percent of car buyers research online before making a purchase, and approximately 75 percent of them already have a preferred brand in mind.
The average car buyer used to visit 3.5 dealerships back in 2013, but now it takes just two visits to make up their minds. Online searches for car loans have also grown by 21 percent from 2015 to 2016. Here are more telling statistics:
- 80% of Malaysian consumers research online before making a purchase decision
- Malaysians love engaging various platforms and mediums to aid their purchase decision
- Malaysians spend 6.3 hours a day online, 59% of which is on their mobile devices!
- A whopping 88% of them watch car videos online!
Gone are the days where a salesperson at the showroom can bluff you into buying a car, because on the whole, dealers and car manufacturers have never faced a more informed customer.
At the end of the day, the car buying Malaysian just wants a good deal. Mass market consumers focus on after-sales service, fuel economy and resale value, whereas luxury brand consumers give more weight to performance, technology and design.
Now tell us, which car would you like us to review for you?