{"id":393532,"date":"2020-12-04T09:03:21","date_gmt":"2020-12-04T14:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393532"},"modified":"2020-12-04T09:03:21","modified_gmt":"2020-12-04T14:03:21","slug":"cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/","title":{"rendered":"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020"},"content":{"rendered":"<h2>\nInterest in Digital Retail is Up, While Public Transit and Ride Sharing are Down<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">CAMBRIDGE, Mass., Dec.  04, 2020  (GLOBE NEWSWIRE) &#8212; CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today released its \u201c<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1Fst9AkM_CdSvdXYCHEt6RCPBgBDl0mrFVj_XOniD2tknX45HvL5x7JoD9fHDpHkmclj0BDShXmpd9nrs296U8lQhcQmVQR0KicKCa2y7AA1OIyGCJRUk9qMLSVdqG2OPPYH2R7xnkhxwVPn9NdvZhsueeDi4Tz8t-LzD2VumJLpNWlZaUQuBSbujD0Nej-Qr-iBPmjtfmQ4DYq8lragQBawzivo2fsCCSA-df0c-BRd69AO1vl7Z1acolzVTgBw\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">CarGurus COVID-19 Sentiment Study: How the Pandemic Impacted Automotive Sentiment in 2020<\/a>\u201d that examines how auto shoppers have responded to the COVID-19 pandemic. The November research benchmarks and compares the previous CarGurus studies that were run in both <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-BvPga2HL64tMRxa5ZklK3jelZpc6G0_OGMlcZAeRdzuQQHNiCrcPQNnYwySKdU8RTUcvT0YxYWMQEHb0WvlJVmspUZlB-PdzPhqES45nkHRFV5QmUlY0oeGvyTpRRwV\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">April<\/a> and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=traB99oIKew79fNLlzMglFr9s65p1UjMhINL4DIV_1Wkq2At4tsICwFXyR8mKcIP7tSOSeN0-_j_hjLWiwuYYSK-Ckc4tO5LpY7Aq3lJj6n4ulcPQd0VkU0GiOHeIQcf7-HPp2THLh_1Ee-_hHnWDQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">June<\/a> and explores topics such as vehicle inventory, affordability, digital retail and ride-sharing\/public transit.<\/p>\n<p>\u201cWhen compared to our previous research, the latest CarGurus COVID-19 Sentiment Study paints a consistent picture that points to a silver lining for the Canadian auto industry amid the pandemic,\u201d said Madison Gross, Director of Consumer Insights at CarGurus. \u201cOver the course of the year, we have seen car shoppers delay but not cancel their purchases, a shift from public transit and ride-hailing towards vehicle ownership and an increase in openness around buying a car online. When coupled with the automotive industry\u2019s current high demand and low supply, it is likely for these trends to continue into next year.\u201d<\/p>\n<p>\n        <strong>The study\u2019s major findings include: <\/strong><br \/>\n        <br \/>\n        <strong><br \/>\n          <em>Inventory and Pricing Perception<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>The pandemic has disrupted vehicle inventory, and many shoppers have taken notice of its impact on selection and pricing:<\/p>\n<ul type=\"disc\">\n<li>Pandemic buyers were nearly 2x more likely to say prices were lower than expected, when compared with those who are currently shopping (36% vs. 19%).<\/li>\n<li>10% of those who bought during the pandemic said vehicle selection was much worse than expected and 21% said it seemed somewhat worse.<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <em>Digital Retail<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>As the pandemic continues, comfort and familiarity with online shopping tools has grown and shoppers are increasingly considering digital retail options when looking for a vehicle:<\/p>\n<ul type=\"disc\">\n<li>Before the pandemic, 26% of respondents said they were open to buying a vehicle online and that has increased to 50% as of the most recent November research. This openness to buying online has not wavered since June (55%) or April (60%)\u2014despite dealerships reopening across the country.<\/li>\n<li>Even though shoppers are becoming more open to digital retail, only 37% would prefer to buy a vehicle in this manner. In particular, shoppers are more likely to prefer online price negotiation (68%) and online financing (50%).<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <em>Public Transit and <\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>Ride-Sharing<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>The pandemic has disrupted many facets of people\u2019s lives and that includes how they travel from place to place and how they view vehicle ownership.<\/p>\n<ul>\n<li>As of November, 43% of previous rideshare users and 49% of public transportation users expect to decrease or stop their use of these services. This has remained fairly consistent over the course of the pandemic (41% in June, 51% in April for ride sharing; 50% in June and 54% April for public transportation).<\/li>\n<li>Vehicles offered people an entertaining diversion during the pandemic with 46% of purchasers using their car more for road trips or longer drives, and 44% agreeing that they see their cars as a source of escape or fun during this time.<\/li>\n<\/ul>\n<p>The benchmarked CarGurus COVID-19 Sentiment Study\u2019s full findings can be downloaded <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tmewx9GE1rzp6u8j7M5MR8HUoF_D9eIYfWXs3WF7xLWfLVVEoFvXAz1sngB6WQLp4NUgyrLrR7OVo_Jl_rKlLXeGUNJblkg2rnbX3vFiVyUizc26O_vz_zQy9V6qOknU1yL7EPBVzPDsg53rvkVLvw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">here<\/a> and any questions about the analysis can be sent to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YeCmvoAEUhH6NrPsJL_nL0KuEFM8-LmXgwLecu9Vm1aO0TkKrQaGrBqfYKXN-Uwm91OmhRlqmlC-mU4ll89fpw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">pr@cargurus.com<\/a>.<\/p>\n<p>\n        <strong>Methodology <\/strong><br \/>\n        <br \/>Throughout 2020, CarGurus has surveyed over 1,500 shoppers on their sentiments toward car shopping during the COVID-19 pandemic. Most recently in November, CarGurus surveyed 502 shoppers who had intentions of buying a vehicle in 2020 or 2021. CarGurus also surveyed 505 shoppers in June and 500 shoppers in April for earlier iterations of this benchmarking study.<\/p>\n<p>\n        <strong>About CarGurus<\/strong><br \/>\n        <br \/>Founded in 2006,\u00a0CarGurus\u00a0(Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers.\u00a0CarGurus\u00a0is the most visited automotive shopping site in the\u00a0U.S.\u00a0(source: Comscore Media Metrix\u00ae\u00a0Multi-Platform, Automotive \u2013 Information\/Resources, Total Audience, Q3 2020,\u00a0U.S.\u00a0(Competitive set includes:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1Fst9AkM_CdSvdXYCHEt6T5jgFQlG__BhIfXfjqESxPCCjc1jK4xDwj1PXxfM2CbDOxXphkwXABWChfIROlpNw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">CarGurus.com<\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pQFQTz-KEHfpEDziyQ8WvMfQtd4MswvIhFpWorDvUktPafmu5cqVviaNNUQ_Kk0LopZAuYrfQsL4HmT_AtICIw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Autotrader.com<\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=U_19nYtGHC4CPkXAJtlZ6Sl-9ciFbf4H7eHbTLAGLQOrVem4adrxF7tZ5v4mgPdx\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Cars.com<\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wTHVzfeSFG81XsSN_lFjiiBfyFW4yESNsDrXz5M3m31fWz8lOqXo0m7L5R0gDM7_N4y-4RrTvzlmHe_YAHJvzQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">TrueCar.com<\/a>)).\u00a0In addition to\u00a0the United States,\u00a0CarGurus\u00a0operates online marketplaces in\u00a0Canada\u00a0and the\u00a0United Kingdom.<\/p>\n<p>To learn more about CarGurus, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1E4rrDtlHl4QbyCV0xr-KTGFLsRRh6QxrTM_GaQYSQb7pHZogWlAEdJzf5RBH6xrOce-V7F_HIRLWpnq6HphPg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong>cargurus.ca<\/strong><\/a>.<br \/>CarGurus\u00ae is a registered trademark of CarGurus, Inc.<br \/>\u00a9 2020 CarGurus, Inc., All Rights Reserved<\/p>\n<p>\n        <strong>Contact:<\/strong><br \/>\n        <br \/>Brian Kramer<br \/>pr@cargurus.com<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NjYyMyMzODU1OTM4IzIwODEwODM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/e18f60b9-b45a-4fce-8bd0-47d7bf868c42\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Interest in Digital Retail is Up, While Public Transit and Ride Sharing are Down CAMBRIDGE, Mass., Dec. 04, 2020 (GLOBE NEWSWIRE) &#8212; CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today released its \u201cCarGurus COVID-19 Sentiment Study: How the Pandemic Impacted Automotive Sentiment in 2020\u201d that examines how auto shoppers have responded to the COVID-19 pandemic. The November research benchmarks and compares the previous CarGurus studies that were run in both April and June and explores topics such as vehicle inventory, affordability, digital retail and ride-sharing\/public transit. \u201cWhen compared to our previous research, the latest CarGurus COVID-19 Sentiment Study paints a consistent picture that points to a silver lining for the Canadian auto industry amid the pandemic,\u201d said Madison &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393532","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Interest in Digital Retail is Up, While Public Transit and Ride Sharing are Down CAMBRIDGE, Mass., Dec. 04, 2020 (GLOBE NEWSWIRE) &#8212; CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today released its \u201cCarGurus COVID-19 Sentiment Study: How the Pandemic Impacted Automotive Sentiment in 2020\u201d that examines how auto shoppers have responded to the COVID-19 pandemic. The November research benchmarks and compares the previous CarGurus studies that were run in both April and June and explores topics such as vehicle inventory, affordability, digital retail and ride-sharing\/public transit. \u201cWhen compared to our previous research, the latest CarGurus COVID-19 Sentiment Study paints a consistent picture that points to a silver lining for the Canadian auto industry amid the pandemic,\u201d said Madison &hellip; Continue reading &quot;CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-04T14:03:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NjYyMyMzODU1OTM4IzIwODEwODM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020\",\"datePublished\":\"2020-12-04T14:03:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/\"},\"wordCount\":696,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5NjYyMyMzODU1OTM4IzIwODEwODM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\\\/\",\"name\":\"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/","og_locale":"en_US","og_type":"article","og_title":"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020 - Market Newsdesk","og_description":"Interest in Digital Retail is Up, While Public Transit and Ride Sharing are Down CAMBRIDGE, Mass., Dec. 04, 2020 (GLOBE NEWSWIRE) &#8212; CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today released its \u201cCarGurus COVID-19 Sentiment Study: How the Pandemic Impacted Automotive Sentiment in 2020\u201d that examines how auto shoppers have responded to the COVID-19 pandemic. The November research benchmarks and compares the previous CarGurus studies that were run in both April and June and explores topics such as vehicle inventory, affordability, digital retail and ride-sharing\/public transit. \u201cWhen compared to our previous research, the latest CarGurus COVID-19 Sentiment Study paints a consistent picture that points to a silver lining for the Canadian auto industry amid the pandemic,\u201d said Madison &hellip; Continue reading \"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-04T14:03:21+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NjYyMyMzODU1OTM4IzIwODEwODM=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020","datePublished":"2020-12-04T14:03:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/"},"wordCount":696,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NjYyMyMzODU1OTM4IzIwODEwODM=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cargurus-study-uncovers-how-pandemic-impacted-canadian-automotive-industry-in-2020\/","name":"CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020 - 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