Check out this blog written by Yasmine Syed of Potratz, as she talks about what consumers really want.
In a nutshell: fuel economy. According to a new study conducted by Consumer Reports National Research Center, thirty-seven percent of study participants cited “fuel economy” as their leading consideration in car shopping. Quality was the second most important factor, trailed by safety and value. A sizable two-thirds of respondents said that they wanted their new car to have a significantly higher miles-per-gallon rating than their current vehicle. “Why”, you ask? It’s because of the economy, duh. In fact, ninety percent of the survey respondents blamed their new car buying behavior on the rising cost of gas.
The survey also found that considerably more car owners are open to downsizing their current vehicles, switching to a hybrid or even buying a car that runs on diesel. A majority of those individuals said they would strongly consider switching to a car that featured flex-fuel technology. Consumers under the age of fifty-five were significantly more willing to purchase a purely electric vehicle as opposed to a hybrid.
What should come as no surprise is that owners of large SUVs were the most open to downsizing their vehicle or, at the very least, switching to a smaller SUV or crossover. When asked to consider which vehicle they were least likely to purchase in the future, the top answers were: larger sedans and minivans. What was particularly surprising was the fact that a majority of survey respondents said that they would pay more for a vehicle as long as they could recover the additional cost by saving at the pump.
Though this news may not come as a shock, ask yourself: Have your marketing messages caught up to this obvious shift in consumer behavior? “No”, you say? Then contact us NOW!