Vroom is an automotive retailer that enables people to buy and sell their cars online. Basically, the retailer is an e-commerce business that permits consumers to buy or sell a car from the comfort of their home. That online car shopping model has allowed them to weather the global health crisis this year better than some others and keep a pulse on what people are buying and selling.
The global health crisis and online buying
The global health crisis in 2020 has shined some light on online automotive sales and car shopping as a whole. Before the crisis, people in the industry, including myself, thought it would take years before online business models would take hold. Many dealerships are steeped in legacy, and technology makes them nervous. So, some embrace the advances, while others put it off until they understand them better. In either case, the point is of no account because the global health crisis forced dealerships, at the very least, to consider online sales.
I said all that to say this… Vroom has had an opportunity to get a good handle on the buying and selling trends this year. As many consumers explored online car shopping and selling, the retailer has kept watch of the data coming in through their systems. The results of all those sales are interesting.
The Ford F-150 is the online car shopping champion
Vroom sells more used Ford F-150 pickup trucks than any other model vehicle. 2020 is the sixth consecutive year for the truck to be at the top of the car shopping list. This should be no surprise because the F-150 has also been a new car sales superstar for decades. The F-150 was followed by the Jeep Grand Cherokee and the Nissan Rogue. Interestingly, the Rogue more than doubled it’s Vroom sales in 2020.
Mark Roszkowski, Vroom’s Chief Revenue Officer, offered a little more insight into the sales data as it relates to this year’s COVID concerns. He alluded to sales spiking for a specific segment due to people’s interest in doing outdoor adventure activities. His comments are below.
“…more people moved out of crowded cities in 2020 due to COVID and began doing more road trip travel and outdoor activities due to safety concerns, this could also account for the spike in rugged SUVs and crossovers. Models like the Nissan Rogue are even marketed as ‘always up for an adventure,’ which car buyers certainly were this year.”
Online car shoppers also sold more Honda Accords than other models
Many people may use Vroom for their next vehicle purchase. But, Vroom does its own car shopping from customers too. So, what were people selling to Vroom the most in 2020? Honda takes the top two spots with the Accord and Civic. Coming in at third place is the Ford F-150.
Another interesting call-out by Mr. Rosckowski, is that the amount of Teslas sold to Vroom has increased more than ten times in 2020 over 2019. He says, “The rise of the electrical vehicle could continue to be a major focus for all auto manufactures for years to come.” So, it is fair to expect that as the market for new electric vehicles increases in the coming years, so will people car shopping the used market for them. Their representation on the list, therefore, could be stronger next year.
There you have it. In summary, the Ford F-150 is voted the champion of used sales by those car shopping online. Also, the Honda Accord is the vehicle that consumers have been getting rid of the most. Lastly, the used electric market is heating up and showing the potential for continual growth.