As the auto industry looks to turn the corner after a couple years of turbulence, we looked at changes in auto purchasing and where new customers are landing compared to a year ago.
Auto brands can put themselves in the driver’s seat by leveraging some of these key new growth opportunities:
- More drivers are on the road again. The number of people who put more than 50 miles a week on their vehicles has grown 11% nationally with the Northeast, West, and South outpacing this growth. Nationally, median weekly vehicle mileage grew 18%.1 So, don’t miss out on this wave of vehicle demand.
- Auto intenders are booming. People planning to buy new or lease a vehicle expanded 9% and 12% YoY, respectively. In the South and Northeast, leasing buyers grew 25% and 17%, and in the West and Midwest, new buyers grew 22% and 3%.1 Engage them now to find your newest customers.
- Electric cars and vans are the hottest new vehicle markets. New hybrid/EV buyers have rocketed skyward with massive growth across the Northeast (82%), West (66%), Midwest (40%), and South (33%). New van buyers also delivered tremendous growth in the Midwest (79%), West (73%), and South and Northeast (35%)1 Capture the attention of the newest auto buyers on the block.
- Auto high-spenders are surging. Car buyers spending at least $45,000 on their next new vehicle grew 34% nationally, with the West (62%) and South (41%) leading the way.1 With the right approach, you can help them get to that place that they really wanna go – in their new all-the-frills vehicle.
For auto advertisers, this should be music to your ears. Here’s how we can help you capture the hearts, minds, and wallets of your next customers.
- Use total Audio to reach more new car buyers on more touchpoints. Sure, you can just advertise on Radio alone – and reach 85% of new car buyers. But add in podcasts and streaming Radio, and suddenly you’re talking to 92% of those new car buyers. By adding more Audio channels to your plan, you also layer in higher message frequency to engage your next customers more deeply.1
- Digital Audio and OTA together yield higher conversions. When you combine digital Audio with OTA, sales conversions are 55% stronger.2
- Influence auto buyers with Audio ads. Podcasts, online Radio, and Radio ads drive high quality, trust, trial, and customer service for new car buyers.3