Canadians look for ‘bang for the buck’ when shopping for a car

Posted Feb 28, 2012 by John Duarte
Most Canadians feel that getting the features they want and good value is more important than opting for traditional “luxury”, so says a recent survey commissioned by Hyundai Canada.
The 2012 Hyundai Elantra sedan
The 2012 Hyundai Elantra sedan
Hyundai Canada
A recent Consumer Gauge report released by the automobile manufacturer shows that 75 percent of Canadians place more focus on finding a vehicle with the features they need at a good price than buying a particular brand of automobile. The survey also shows that one in four consumers say the definition of luxury has changed in the current state of global finances.
Hyundai Canada commissioned Millward Brown to find out what Canadians look for when shopping for a new car. The resulting report says that buying a vehicle with all the “bells and whistles” is not a relevant part of the decision-making process for most Canadians. In fact, the Consumer Gauge survey results show that “luxury” may have become a “dirty word” for consumers. Hyundai Canada president Steve Kelleher says the automaker is listening.
"We're determined to redefine luxury by offering customers key features they want without the steep price tag,” he says. “The Consumer Gauge allows us to gain further insight into consumer preferences so we can better tailor our offerings to suit their needs."
The study shows that bang for the buck is key when opting for quality and value in an automobile rather than buying a car on the grounds of status or indulgence. Over 38 percent of respondents stated pricing was the most important factor to consider in the next vehicle purchase followed by personal enjoyment (18.2 per cent), impact on lifestyle (11.1 percent) and exclusivity (9.7 percent).
"Canadians are increasingly looking for value and personal gain from the products or services they buy," Kelleher says. “Getting premium quality features at an accessible price is now the name of the game."