May 17th, 2024, Lesley Simeon
New YouGov data reveals that a significant proportion of consumers would consider going the second-hand route when purchasing cars.
The survey asked consumers across 17 international markets which categories of products they would consider opting for second-hand or pre-owned offerings. Cars top the list with almost three in five (59%) consumers across markets saying they would consider buying second-hand cars.
Data from YouGovs survey’ places Britons at the top of our list of 17 markets where consumers are most likely to consider used cars this year (71%). The used car market in Great Britain has its fair share of headline-worthy developments - record price declines, increasing corporate reliance on second-hand cars for their fleets and consumers opting for finance options to complete their used-car purchases, faced by the cost-of living crises.
Brits are followed by consumers in Australia (69%), Poland (68%) and Canada (68%) in terms of openness to buy pre-owned vehicles.
Equal proportions of the public in America (where used-car prices are expected to stabilize this year and Italy (65% each) agree as well.
As for the Asian markets surveyed, consumers in Indonesia (54%) are the most likely to consider buying second-hand cars. In India, more than two in five consumers (44%) are of the same opinion.
Hong Kongers, on the other hand, are the least likely (28%) not just in the region but across markets to say they would consider pre-owned cars.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 17 markets with sample sizes varying between 512/500 and 2034/2002 for each market. All surveys were conducted online in February 2023/ February 2024. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.
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