The online community has shown a steady decline in interest and prioritising sustainability particularly when it comes the automotive choices they make. This has been directly attributed to inflation and the rising cost of living. Consumers are more focused on themselves and perceived needs than that of the greater good.
In 2020, the used car market exploded due to a shortage of new cars. This is where the term “covid Tax” became a household saying. Since then, online conversations around used cars have steadily declined, and the same is true for sustainability. Online mentions of cars and sustainability are down 16% from April 1, 2023 to March 31, 2024 compared to the previous 12 months.
Source material: Brand watch Consumer research.
In recent years, inflation and the higher cost of living have made it harder for consumers to prioritize sustainability in their purchasing decisions. According to a survey, 45% of respondents said that buying greener cars is a lower priority for them when they have a tighter budget. So, it’s no surprise that sustainability is one of the most negatively discussed topics in online car conversations.
This is likely a contributing factor in the declining sales of hybrid and EV vehicles in particular the in the second hand market.
