Home Insights Insight of the Week: What’s driving car buyers?

Insight of the Week: What’s driving car buyers?

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shutterstock_147130580After buying a home, buying a car is the biggest individual cost many of us undertake. Little wonder then that the car market is so competitive and a full understanding of consumers who are looking to buy a new car soon incredibly valuable.

The latest data from Kantar Media’s TGI study of consumers in the Republic of Ireland reveals that 29% of adults aged 18+ (just over a million adults) intend to buy a car in the next two years. This is significantly higher than the figure in Northern Ireland (17%) and higher than in Britain (27%).

Demographically, there isn’t a huge amount that separates new car buyers in Ireland from consumers generally, except that they are almost 40% more likely to have a household income of €75,000 or more.

Understanding what makes these people tick and thus reaching them in an impactful way is potentially very lucrative and TGI reveals prominent differentiating attitudes for this group show that they like to stand out, impress others, be in control and have fun. For example, they are 23% more likely to like to stand out in a crowd, 26% more likely to enjoy drinking for long sessions and 22% more likely to say they like to have control over people and resources.

When reaching these car buyers, one potentially efficient option is newspapers, of which they are 21% more likely than other adults to be amongst the most frequent 20% of readers.

To view archived TGI Insights of the Week please click HERE

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