Curated News
By: NewsRamp Editorial Staff
May 13, 2024
Teads' Global Report Unveils New Auto Buying Landscape
Discuss on Reddit
Discuss on SubstackTLDR
- 82% of auto buyers are open to switching brands, creating a critical opportunity for automakers to capture attention and stand out in a competitive environment.
- Auto buyers are devoting two weeks or less to researching brands and models, making early consumer outreach critical for success.
- Sustainability is now a key buying factor, with 42% of consumers solely considering hybrid or electric vehicles, contributing to a more sustainable future.
- Online resources are now more important than ever for car research, inspiring 81% of consumers to take action, especially younger demographics and EV considerers.
Impact - Why it Matters
The report sheds light on the changing landscape of auto buying, impacting both consumers and automakers. Consumers can gain insight into the latest trends and considerations when purchasing a vehicle, while automakers can use the findings to optimize their strategies and cater to evolving consumer preferences. This shift towards openness and sustainability in auto buying has the potential to reshape the industry and guide future innovations.
Summary
Teads, the global media platform, released a report on the new dynamics of auto buying worldwide. The findings reveal that brand loyalty is waning, leading to an opportunity for automakers to capture attention. The report also highlights the surge in popularity of electric vehicles and the dominance of digital resources in the car buying journey. Key players such as Kia America, Ford, and Nissan U.S. shared their insights on these shifting trends.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Teads' Global Report Unveils New Auto Buying Landscape
