New research from automotive solutions firm, epyx, has revealed a comprehensive vehicle history, as the most influential factor for online trade buyers.
The survey found that 88% of online trade buyers name a comprehensive vehicle history as a key factor influencing their decision to buy. This was followed by the ability to choose from a wide range of vehicles at 80%, minimizing auction fees at 68%, access to a large number of car brands in at 63% and lastly access to expert account management at 47%.
Vicky Gardner, remarketing commercial manager at epyx, explained, “These results give what we believe is a really accurate snapshot of how trade buyers view online buying at the moment. “What they want is an excellent choice of stock, backed with strong provenance and low fees. It is all about getting high quality cars onto their web site and forecourt at minimum cost.”
The survey sampled a relatively low number of buyers, 157, the majority of whom - 52% - use both online and physical auctions, while 43% of the respondents use online only.
Vicky continued: “We have been seeing an ongoing shift towards online buying. The advantages are just too strong for most trade buyers to ignore although most also continue to like to visit physical auctions on a regular basis because of the ‘feel’ that it gives them for the current state of the market.”
The research will inform epyx’s development of its 1link Disposal Network platform, where almost 2,000 trade buyers access ex-fleet, leasing and manufacturer vehicles.