We’re coming up on a three day weekend thanks to Labor Day, America’s 3rd favorite holiday! Behind Christmas and Memorial Day, Labor day excites most Americans with its end of summer celebrations and an extra day off of work.
According to wallethub, 25 percent of Americans will travel for the last holiday of summer. Seven percent will fly, and the rest will travel by car to their preferred destination. On average each person will spend about $58! But, that doesn’t count the thousands of people that will buy cars this weekend.
Starting on the Friday before Labor Day, August 31st, Drive Motors predicts between two and three cars sold every working hour, “Based on current growth trends, we predict dealers will sell more than 3 cars per hour on the Friday before Labor Day and more than 2 cars per hour throughout Labor Day weekend (Friday through Monday).”
Answering our questions over email, Aaron Krane, CEO of Drive Motors isn’t really surprised by the large numbers of cars that are expected to be sold.
“It’s one of the biggest sales holiday because it also happens during peak summer sales,” Krane wrote. “Labor Day is a big sales event, because the extended holiday allows buyers to progress through the whole “click-and-mortar” cycle: visit dealer website to browse inventory, visit the showroom to get the fit and feel, and either complete the deal there or complete it back at home. This is turbocharged by the fact that it’s at the end of a month, which means even steeper discounts layered on top of OEM promotions.”
August 31st really seems like the day dealerships should focus on. If you take a look at the stats of the last few years on Labor Day, the Friday before presents big numbers.
“Last year, sales spiked
Krane also says every dealership will NOT see these numbers. Only dealerships who have a working online sales tool will reap the benefits of this great American holiday, “Online sales are critical; 85% of modern car buyers prefer to visit the dealership that has transparent online checkout,” He said. “Dealers can skip the flashy kiosks and microsites. They should invest in “native” technology that leverages their own sales team and website.”