The Future of Car Buying: What Over 3k Consumers Told Us About the Auto Market

The automotive industry is undergoing a transformation. Consumer preferences are shifting, sustainability is becoming a deciding factor, and electric vehicles (EVs) are gaining mainstream traction. To understand what’s driving today’s car buyers, we surveyed over 3.3k consumers through our proprietary insights community, The Breakroom, covering a range of demographics, income levels, and purchasing intentions.

The results reveal a highly engaged, high-income audience with strong purchasing intent, clear preferences in brand loyalty, and evolving expectations around EV adoption. The data paints a picture of a car-buying journey that is more informed, more digital, and more influenced by sustainability than ever before.

The Path to Purchase Is Evolving With a More Strategic Customer

Despite economic uncertainties, the appetite for new vehicles remains strong. Almost half (43%) of respondents plan to buy or lease a new vehicle in the next two years, and a notable 48% plan to spend over $50k on their next purchase. However, these buyers are more calculated in their approach, weighing multiple factors before committing.

Consumers are no longer swayed by branding alone. 55% agree vehicle quality is less tied to brand names today than it used to be, indicating that buyers are evaluating cars based on safety (39%), fuel efficiency (33%), and technological advancements (25%), rather than legacy reputation alone.

At the same time, personal networks play a crucial role in decision-making. 42% of respondents say they often advise friends and family on vehicle purchases.

Buyers research across multiple channels before committing. Older consumers lean into word of mouth and online news, while younger buyers are 1.5x more likely to rely on social media.

With half of consumers discovering vehicles through both personal networks and digital news (and over a third, or 36%, via social platforms), a multi-touch marketing strategy is no longer optional—it’s essential. To win attention, automakers need to blend trusted media, social engagement, and digital content tailored to how different audiences actually discover their next car.

Translation: Brand names don’t sell cars like they used to. Group chat mentions and performance proof points are the new horsepower.

Despite skepticism, EVs Are Gaining Traction

Interest in electric and hybrid vehicles has reached a new high, with 67% of in-market buyers considering an EV or a hybrid. Sustainability is now a significant factor for 58% of respondents, showing that environmental impact is no longer an afterthought but a core part of the decision-making process.

However, skepticism remains. While 48% of consumers are willing to pay a premium for an EV, many are still hesitant due to concerns about charging infrastructure (78%), total cost of ownership (70%), and vehicle performance (63%). Trust in EV brands is another key issue. 61% of respondents say they care more about an EV brand’s reputation than the actual vehicle’s features, suggesting that credibility and consistency in messaging will be crucial for automakers looking to drive adoption.

Home-charging solutions are also top of mind, with 57% of potential EV buyers planning to install a home-charging station. This points to a broader demand for infrastructure and convenience, signaling that automakers and policymakers need to work together to remove friction from the EV ownership experience to propel more adoption. 

Brand Loyalty Is Strong, But Openness to New Players Is Growing

Consumers still lean toward familiarity when making purchasing decisions. 70% of respondents say past family vehicles influence their next car purchase, and 64% prefer to stick with brands they’ve previously bought.

That said, the door is open for disruptors. While legacy brands retain a loyalty advantage, the increasing presence of EV newcomers, direct-to-consumer models, and tech-driven automakers is shifting the conversation. Established brands need to modernize their messaging, while emerging brands must work to establish trust and reliability.

For consumers, reliability and brand reputation remain essential but innovation and adaptability are now just as important. 25% of respondents upgrade their car every few years to stay current, reinforcing that consumers expect continuous advancements in technology and design.

What This Means for the Automotive Industry

Consumer priorities are shifting, and automakers must adjust accordingly. Brand loyalty is strong, but it’s no longer guaranteed. EV interest is rising, but buyers still need reassurance on trust and infrastructure. Purchasing decisions are increasingly influenced by sustainability, personal recommendations, and digital content, rather than just dealership visits.

Automotive brands that embrace transparency, innovation, and an omnichannel engagement strategy will win over the next generation of car buyers. The road ahead is clear. Brands that educate, build trust, and remove friction from the buying process will drive the future of the industry.

drive the future of the industry.

Source: Morning Brew Inc. Automotive Survey, July 2024, Morning Brew Inc. Readers (n=3,352) via our Proprietary Insights community panel: The Breakroom.