Purchasing a car is an extremely important decision for most Americans, as it is typically the second most expensive purchase consumers make after their homes. The automotive marketplace is filled with options for consumers to consider: which brand, body style, specific model, new or used, all at an affordable price point for the buyer.
Albany, NY -- (SBWIRE) -- 05/26/2017 -- In recent times, car purchasing has become the second most expensive step taken by Americans after their homes owing to it's' importance. Focusing on this factor, a fresh study is added to the huge repository of Market Research Hub (MRH), with the title ''Car Purchasing Process – U.S. - May 2017''. This study aims to present a conclusive synopsis of the major factors such as purchasing process and market conditions; as well as the study of the exclusive consumers, in the U.S. during the period till 2021.
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Presently, the market is affected by interest rate hikes, fuel prices and high purchasing intent among English-speaking millennial Hispanics. The report begins by offering an overview of the sector, alongside the applications and issues such as the stressful buying process, worrying about overpaying as well as attitudes toward car purchasing in terms of price and age. In the study, there is key data on the market, market size and forecast and market breakdown. The section highlights about consumer preference shifts and the growth in the used car market. These factors are pivotal in designing businesses according to the present market.
Another vital feature of this report is the introspection of the key players using current situations. Some of the events mentioned in this section are, Carvana planning to go public and Tesla challenging long-established franchise dealer sales model. This section also talks about the positive news such as CarMax's sales among used car shoppers, the neutral platform of third-party sites and Carvanas' initial public offering. Correspondingly, the data on the hindrances faced by these players help investors to deal with new challenges.
Moreover, the study also offers useful information about the purchasing process to investors through the cluster analysis considering the shopper types such as adversarial, empowered and unconventional. These segments are analyzed in terms of characteristics and opportunities. Similarly, the data on the vehicles such as used car market and off-lease vehicles enables to redesign the business intelligently.
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In the conclusion section, the study thoroughly introspects consumers in terms of purchase reasons, shopping resources as well as the issues they face while shopping. Other vital information on shoppers brand knowledge, customers' attitudes and pre-purchase reasons are also available in this study. The purchasing intentions among consumers considering trends, age and Hispanics are also analyzed. Retailers and brands can now reach consumers easily by using the relevant content from this report.
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