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Used Auto Market

Used Auto Market

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  • 1. Used Cars…Very Profitable MEDIACENTER
  • 2. Consumers ChooseGently Used Over New• According to Manheims Used Car Market Report.• A CNW Marketing Research firm study showed that the value of used-vehicles also increased by 5.8% over the same period last year, driven by reduced supply.• Other findings from the study revealed a flood of newly independent dealerships that are now operating exclusively as pre-owned dealers following the closure of many franchised vehicle stores.• CNW predicts the industry could hit used car sales of close to 40 million units for the year. MEDIACENTER
  • 3. Tight Credit Market Moves ConsumersToward Used-vehicles• With the average price for a pre-owned vehicle at a franchise lot increasing annually.• Independent dealers are seeing an increase on their share of loans. With the ability to supply credit to the consumer.• CNW found that the amount consumers are willing to devote to a monthly vehicle payment is an average of $327 per month.• J.D. Power found that more people (55%) are also trading in their used- vehicle for another used model and almost 30% trade a vehicle they bought new for a secondhand replacement.• As more consumers fact-find on the internet before purchasing a used- vehicle, shoppers are selecting vehicles before they visit a dealership. MEDIACENTER
  • 4. Sales of Pre-Owned Luxury VehiclesPoised for GrowthThe demand for used luxury cars is booming, suggesting affluent car buyers want a balance between saving money while maintaining their lifestyles.• To reach potential CPO buyers, TV advertising messages should focus on the added value of a gently used-vehicle along with a dealerships reputation as a stabile part of the local community. MEDIACENTER
  • 5. Bright Future for Used-vehicle Dealers• Fewer new cars going to buyers means there may be fewer used- vehicle at some later date. However, according to J.D. Power, used- vehicle dealers are facing a bright future.• Shoppers that can no longer get credit for a new vehicle, or who dont want to commit themselves to investing a large sum of money into a car, will continue to turn to the used-car market as an alternative.• Value will continue to drive buyers into a dealership. To communicate value through TV ads, include messages that differentiate the dealers products, customer relationships, ease of financing, and superior service from its competitors. MEDIACENTER
  • 6. Advertising Strategies As buyers face difficulty in financing new cars, used- vehicle dealerships can bring in traffic and sales by partnering with a local broadcast TV station during community events or for live remotes, providing added value for a media buy while reaching a wide demographic of potential customers. By spending a certain amount per car for television advertising, retailers can increase share and sales of used vehicles and elevate their dealership to a more prestigious level among consumers. MEDIACENTER
  • 7. Advertising Strategies To reach more affluent, certified-pre-owned customers, TV advertising messages should focus on the added value of a gently used luxury vehicle along with a dealerships reputation as a stabile part of the local community. To communicate the value of a dealership over its competitors, TV ads should include messages that differentiates a retailers products, customer relationships, ease of financing, and superior service. MEDIACENTER
  • 8. Why TV? The Answer is Three Simple Reasons! MEDIACENTER
  • 9. Why TV? 1. Your customers and potential customers use it − viewing daily for long periods of time. 2. TV’s attributes of sight, sound, motion and emotion let you best communicate your message to these people. 3. Television works in dollars returned! MEDIACENTER
  • 10. Why TV? Remember… Only Television can give you: The right message… To the right people… At the right time… In the right place! MEDIACENTER