According to the new Ad-ology Auto Shoppers Forecast, 36% of U.S. consumers plan to purchase a new vehicle in the next 12 months. That’s a 64% increase from May 2011.
“Stability in the U.S. economy is allowing many owners of older vehicles to shop for a replacement,” says C. Lee Smith, president and CEO of Ad-ology Research. “More than one-third of those who intend to purchase a new car or truck in the next 12 months will be replacing a vehicle that is 10 years old or older.”
Japanese automakers are starting to bounce back from supply shortages caused by the March 2011 tsunami. Toyota, Honda and Nissan all show increases in purchase consideration from one year ago. Toyota is now tops in brand consideration, with 48.3% of consumers citing it as a brand they will consider. That’s a stunning increase of 19.6% from 12 months ago.
According to the Ad-ology study, Acura and Kia join the list of top 10 most considered brands for purchase this summer, while Chrysler and BMW fell out of the top ten.
The Ad-ology study reveals many of the factors that influence buyers during the purchase process.
- Automaker and dealer websites are as influential as the dealer’s own salespeople before the test drive.
- A dealership’s service department ranks as the fourth most-important factor when consumers choose a dealership (behind willingness to negotiate, reputation, and selection of vehicles available).
- One in four new vehicle shoppers in the U.S. have attended an auto show in the past 12 months.
- Automotive advertising has surprisingly more influence than potential buyers’ friends or parents.
- 53% of potential new vehicle buyers say that television advertising has caused them to call, click, search, or visit the advertiser; 46.9% say television commercials have caused them to take action within the past 30 days.
Digital media continues to influence consumers and is becoming an increasingly crucial component for automotive marketers. In addition to banner ads, social media and daily deal sites, Smith says that manufacturers and dealers alike must find their way onto auto shoppers’ smartphones.
“Seven in ten potential new vehicle buyers now have a smartphone for personal use – up from 57.3% last year,” Smith says. “Mobile devices will only continue to grow as part of the buying process over the next three years.”
The 76-page 2012–2013 Auto Shoppers Forecast for new vehicles is currently available for $95 through the Research Store at Ad-ology.com.
ABOUT AD-OLOGY RESEARCH
Ad-ology Research focuses on the specific demographic, psychographic, geographic, or vertical market segments most likely to be your best customers and how to Advertise Smarter to them. Over 2,000 advertising agencies, media companies, and corporate marketing departments use Ad-ology Research across North America.
Ad-ology also provides a free compilation of marketing-related forecasts at MarketingForecast.com, the Marketing Forecast monthly video podcast on iTunes and YouTube, and the Marketing Forecast smartphone app for Apple iPhone, iPad, and Google Android devices.
Ad-ology Research was created as a division of Sales Development Services (SDS), Inc. in December 2005. Ad-ology's parent company is based in Westerville, Ohio and was founded in October 1989. Ad-ology is a registered trademark of SDS.
Ad-ology Research surveyed an online panel of 4,004 U.S. adults in May 2012. The margin of error is +/- 2.04%.