American Automotive Industry Poised for Renewed Growth in 2012
The American automotive industry had traveled a tough road through the economic downturn, but according to a new complementary study and accompanying infographic from local market consumer research firm Scarborough, the American auto industry will be putting the pedal to the metal this coming year.
AUTOMOTIVE PURCHASE INTENT
Scarborough’s automotive study reveals that 7% of American households, representing 8 million households, plan to purchase a new vehicle in the next year. Further, more than half (65%) of American households currently have a domestic vehicle, and 46% of these domestic vehicle households purchased those domestic vehicles new. 42% of American households that own domestic new vehicles either plan to purchase a new vehicle in the next 12 months or already own a domestic vehicle which was purchased new in model year 2000 or earlier – representing purchase opportunity.
“This automotive study further explores the Domestic New Vehicle Owner revealing where they can be reached and identifying activities and issues that are important to them,” says Brian Condon, executive vice president of commercial development for Scarborough. “By understanding the Domestic New Vehicle Owners, manufacturers, dealers, media companies and marketers can capitalize on these prospective consumers and convert them into domestic new vehicle sales this coming year.”
Domestic New Vehicle Owners (DNVOs) can be found online as 35% of DNVOs spend 10 hours or more per week online. Additionally, 16% of DNVOs who are online researched automotive information online in the past 30 days. More than half (62%) of all households with domestic new vehicles purchased their vehicles within 20 miles of their home. Marketers can reach DNVOs in their home towns; the top three local markets for households with domestic new vehicles are: Detroit (49%); Flint (42%) and St. Louis (40%).[Source: “Domestic New Vehicle Owners.” Scarborough Research. 7 Mar. 2012. Web. 15 Mar. 2012.]