CarSoup.com is pleased to recognize Clements Chevrolet Cadillac Subaru in Rochester, MN, and White Bear Acura Subaru in White Bear Lake, MN, as CarSoup.com’s Souper Dealers of the Month.
Clements Chevrolet Cadillac Subaru
Clements Chevrolet Cadillac Subaru continues to lead the Rochester market in the digital space. Through the change to the Clear Value Pricing model and a dedication to getting the message out loud and clear to the automotive shoppers, the dealership has not only grown but has also created more happy customers. Congratulations to everyone at the Clements Chevrolet Cadillac Subaru store.
White Bear Acura Subaru
Through forward-thinking management that not only understands the digital world but also takes an invested interest in it, White Bear Acura Subaru fully engages with CarSoup.com and utilizes all of the tools to increase sales. To Sam Shouman, Subaru Sales Manager, Karl Gunderson, Business Manager and the Subaru entire team, CarSoup.com congratulates you.
Consumers have access to an unprecedented amount of information these days and it can be a challenge to keep your sales team up to speed and equipped to respond to the questions they face every day. A good case in point: used car prices. Consumers are learning that average used-car prices are hitting record highs. They're also hearing that used car inventories are increasing. "But, wait", they say, "if the supply of used vehicles is bigger why are prices going up instead of down?" If your sales team has the right approach to this conundrum, your dealership can profit despite the seeming contradiction.
With used car supplies increasing and average prices going up, some consumers might be confused about this apparent violation of the basic law of supply and demand. To help them understand the current dynamic it's good to remind them that we're all still feeling the effects of the 2009 Great Recession.
The short story goes like this: New-car sales in 2009 topped out at 10.4 million units. Analysts said it was the lowest point for U.S. auto sales per capita since World War II, nearly 3 million units below 2008, and 2008 was almost 3 million units lower than 2007. That huge deficit in new car sales resulted in a corresponding drop in used inventory. As new-car sales have increased, there’s been a gradual increase in the supply of used cars. However, the recent and more significant jump in used inventory contains a disproportionately large number of 3-year-old vehicles coming off of new-car leases. So, while the overall supply has increased, much of that jump has been concentrated in the newer and pricier used cars – those 3-year-old, off-lease cars.
Many of these "nearly new" units end up being retailed as Certified Pre-Owned cars. Most consumers understand the extra costs and benefits associated with CPO programs, but other factors that affect used prices, like the one described above, can be a little more complex and it's always helpful to be able to explain some of the other market dynamics at play. Your customers will appreciate it.
In a recent consumer study, CarSoup.com third-party research found that 7% of customers who bought new actually would have preferred to purchase used. Talk to your CarSoup.com representative about more effective ways to locate used vehicle buyers. Try a used car special event, targeted ad banners, retargeting and other great CarSoup.com tools designed to help you build your brand, increase traffic and drive sales.
We recently surveyed hundreds of CarSoup.com consumers who bought new vehicles to find out more about their experiences. We asked them to rate the importance of a number of key influencers regarding the vehicles they chose and why they chose them. What we learned might interest you.
We asked shoppers to identify and rank, in order of importance, the main reasons they purchased a specific new vehicle. Over 40% of buyers surveyed listed "ready for a change" as a top consideration. Shoppers are still vitally interested in practical concerns like features, performance and price but we were a bit surprised that so many people were motivated by more subjective influences. Could it be in this age of practicality there are still people who buy simply because the time seems right and and dang it, it feels great to have a new car?
Plenty of new car buyers we surveyed truly relished the buying experience. And what's not to love? That factory-fresh new car smell and feel, the peace of mind and security that comes with a brand new vehicle, the latest in tech and safety features, the sense of pride and prestige. It's exciting. 42% of women who weighed in said they bought their vehicle because they "fell in love" with it. The love connection was more important than nearly all other considerations, second only to price. Turns out "ready for a change" buyers aren't just ready for a change, they're ready for a new experience.
The data suggests that 'ready for a change' new car buyers are still very much into the experience of buying a new vehicle and they often view "needs" (practical considerations) and "wants" (emotional considerations) as equal ingredients in the decision making process. Sometimes the line between the two gets a little blurred. Do people need sunroofs? Perhaps not but sometimes you need to feel the sun on your face and the wind in your hair and having a sunroof sure helps.
Bottom line: the facts, stats and features are all very important but the experience still matters to most new car buyers and for some the experience is what it's all about.
Talk to your CarSoup.com representative about ways to connect with buyers when they're ready for a change.
We're excited to announce CarSoup.com's partnership with the Minnesota Vikings for the 2015 season. Our alignment with the Vikes will put CarSoup.com in front of millions of loyal fans who also just happen to land squarely in our key demographic. We plan to focus attention on several unique and exclusive CarSoup.com features like "Must Go Specials", "Recent Price Drops" and "Better Than Book Offers". For CarSoup.com dealers this is a great chance put on the purple and get in the game. Why? Read on...
We'll be working closely with KFAN's Paul Allen, aka P.A., the "Voice of the Vikings" for well over a decade. Fans know and love P.A.'s game calling style and his passion for the Vikings and he'll be bringing the same level of excitement to our partnership. We'll be giving away prizes throughout the season, including a grand prize worth 5 grand, which should keep things jumping. You'll hear P.A. talk about CarSoup.com during his top-rated radio show and we're running spots before and during games.
Throughout the promotion we'll be targeting specific CarSoup.com features and tools that are unique and exclusive to our site ("Must Go Specials", "Recent Price Drops", "Better Than Book Offers") and as a result we're expecting to see more activity in those areas. It's a great opportunity to place your inventory accordingly and take advantage of some excellent advertising packages.
Contact your CarSoup.com representative for more details and Skol Vikings!